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March 2018 Archives

Later in life divorce can upend retirement planning

Pew Research polls indicate that the numbers of younger couple who are ending their marriages has declined in recent years. However, for those aged 50 and over, the divorce has more than doubled. There are many reasons why Colorado residents chose to seek a dissolution, but such decisions do not come without a price tag.

There are misconceptions concerning a military divorce

A marriage comes with many pressures, and when one or both spouses are active-duty service members, the stress may prove to be too much for the relationship. At that point, a dissolution may be the best option. There are some misconceptions concerning the differences between a military divorce and a civilian one. Colorado residents who may be considering filing a petition for a divorce may be tempted to believe some of the more common misconceptions.

After a divorce, settlement agreement is the solution for dispute

The process of ending a marriage is frequently an emotionally draining experience. Once the final divorce decree has been granted, it does not always mark the end of interactions with a former spouse. Colorado residents who have endured the process may find that their settlement agreement can be the best source for resolving disputes.

The approach to a prenuptial agreement can make a difference

The decision to propose may seem like the most difficult one in the beginning. However, that may seem easy when it comes time to planning the wedding and handling conversations concerning finances and whether a prenuptial agreement would be appropriate. Colorado residents who are wondering whether this type of contract would be useful may benefit from seeking further information.

Work-related stress may lead to increased risk of divorce

There are many reasons why a marriage may not survive. Some of the most common reasons that couples divorce are believed to be caused by extramarital affairs or by other changes in the relationship. Regardless of the reasons, Colorado residents who are considering taking this step often have many issues that may be difficult to resolve on their own.

Who gets to claim the Tax credit for the Child Dependency Exemption after a divorce?

An exemption is an amount of money you can subtract from your Adjusted Gross Income ("AGI") when calculating your tax burden, which can result in smaller tax bill. Parents may be able to claim an exemption for each qualifying child, called a Child Dependency Exemption ("CDE"). A child can only be claimed by one parent per year. As such, one of the collateral issues to a divorce with children is which parent gets to claim the children as a CDE on their personal tax return.

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