Moving through the end of a marriage is a busy time, but it is important for spouses to remain focused on their financial goals. The decisions made during a Colorado divorce will shape the financial futures of both spouses for many years to come. Setting solid goals during the divorce process is important.
Colorado residents have likely heard discussions on the currently proposed Republican tax plan. The bill is being sold as a means of cutting taxes and improving the lives of middle-class Americans. In reality, however, there are numerous provisions laid out in the proposal that could create financial turmoil. An example is found in the proposed elimination of the alimony tax deduction, an issue that affects hundreds of thousands of Americans who have gone through a divorce.
For Colorado parents who are planning to end their marriage, maintaining or establishing good communications with their partner is important. When a couple shares one or more children, they remain closely connected, whether they like it or not. Those who are able to work together to place the interests of their children above their own emotional needs should consider working on their communication skills. That's where a divorce coach comes into play.
When a Colorado resident enters into a divorce or child custody case, one of the top concerns is how much the process will cost. In some cases, people are surprised at the final tally of expenses, and feel caught off guard with what they are expected to pay for family law legal services. This should never be the case, and spouses are encouraged to take a proactive approach in addressing matters of cost with their attorney.
Many Colorado residents are aware that there are no laws in place that require a family court judge to consider issues related to pet "custody" when a couple is divorcing. However, one state has recently undergone a change in that regard, and a new law will require judges to consider the wellbeing of each animal when making decisions concerning pet "custody" during a divorce. That change comes as a welcome relief to pet owners who are concerned about how their beloved pets would be treated in the event of a divorce.
As a Colorado couple moves through the end of a marriage, many different financial matters will come into play. For parents of shared children, child support is one of those topics. Most states have a system for determining the proper level of child support that the non-custodial parent will pay the other. However, many parents fail to address additional expenses that a child will incur as he or she grows up. Talking about those expenses during the larger divorce negotiations can make things easier for both parents and children.
When a Colorado family is moving through the end of a marriage, many parents want to do everything in their power to make things easier on their shared children. That can mean different things to different people; some children have a unique set of needs when it comes to their parent's divorce. However, there is someone who can assist, one whom many families overlook when moving through a challenging time: the family pediatrician.
Many Colorado spouses spend a great deal of time negotiating the details of child support and alimony payments. Few, however, take the time to consider what would happen if the spouse tasked with making those payments passed away before the payments were scheduled to come to an end. For many families who have gone through a divorce, that outcome would lead to financial devastation. A measure of protection is called for, and can be found in the form of life insurance.
Many Colorado residents gain a different perspective on their spouse as their marriage comes to an end. Often, divorce brings out the worst in people, especially where financial matters are concerned. Some spouses go so far as to take steps to intentionally deplete marital wealth, a process known as dissipation of assets. That can have a drastic impact on the eventual property division settlement.
For homeowners, the division of marital property can be far more complex than for those couples who have not purchased a home. Deciding how to divide the equity in the family home can be one of the more complex aspects of a Colorado divorce. A number of different options exist, each with a unique set of pros and cons. Navigating those choices successfully is important, as the outcome will have an impact on the financial stability of both parties.