Divorce & Finances - Marrison Family Law

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Divorce & Finances

colorado springs law firm 3If you have reason to believe your ex-spouse could file for bankruptcy, you need to do what you can to protect your interests. This is particularly true when it comes to any pending property settlements or joint accounts. Things change after a Colorado divorce settlement, but that doesn't mean that you should face a penalty because of your ex-spouses mishaps. Whether you've learned about a potential bankruptcy from the court or through a mutual friend; don't bury your head in the sand, take the time to find out what's going on.

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colorado springs divorce lawyer.2As a Colorado Springs family lawyer, I am often asked how to make divorce less expensive, or if it's even possible to maintain the same standard of living after a divorce. A lot depends on how amicable you and your spouse can be, and how you go about the process. An over-reliance on litigation can make a divorce very expensive, and that's not only because of the legal costs. In many cases, mediation is a much safer and more affordable route for couples, especially those with minor children.

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bankruptcy divorce 2First marriages usually start out before a couple has had a chance to accumulate debt, but that is not always the case. Some individuals look at marriage as a way to "solve" their debt issues because now they will have two incomes instead of one. If this sounds like you and you are getting married soon, it may be beneficial to delay the wedding until you have paid off all your debt. Marriage is challenging enough on its own without the added stress of entering it with mountains of debt.

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divorce and taxesLike any other state, getting a divorce in Colorado can be complicated, with many financial and child-related changes. The financial aspects might include the division of property, spousal maintenance and child support, and within these are many nuances, but an experienced Colorado Springs family lawyer will be well-versed on all of them. One of the most intricate details, which many couples fail to explore, is how the divorce relates to taxes.

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late life divorceToo often, we hear more about divorces among young families than we do about empty-nesters, but more and more couples are divorcing late in life. Data from the U.S. Census Bureau indicates that older Americans are divorcing more frequently than ever.

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prenuptial agreementIf you've ever been through a divorce, chances are you don't want to do it again. This is particularly true for people who have lost a considerable amount of assets in a divorce settlement. However, if you ask a Colorado Springs family lawyer for advice, you may be told to stop worrying and just get a "prenup."

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late life divorceIt seems like just as soon as many couples reach the point where they get to enjoy life; they decide to do it separately. Perhaps it takes the "empty nester" syndrome to set in before they realize that they really have nothing in common, but for some reason late-life divorce is on the rise. While these couples might avoid all the complications of custody and child support, they deal with a more challenging financial settlement.

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college_costsWhen couples divorce, it's not unusual for them to part with vastly different expectations about what happens next. Couples often agree to share college expenses even when they have little intention of actually doing so. If you are a custodial parent and you expect the noncustodial parent to help with college it is best to get this in writing as a part of a divorce settlement. Even then it may be difficult to enforce in court.

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social_security_divorceIf you think the complications of divorce came to a close on the day you received your divorce decree; think again. Ask any Colorado Springs family lawyer, and they will tell you that your divorce will continue to be a factor to be dealt with, even well into your retirement years. Fortunately, the Social Security Administration (SSA) has thought of everything. They even devoted several pages on their website (www.SSA.gov) to help divorced people understand their benefit options.

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family_lawsIf you’re getting a divorce, learning about the sneaky things your spouse might try can be very enlightening, but it will not be your favorite topic.  As a family law attorney in Colorado, I meet a lot of clients who refuse to believe their spouse would attempt to hide marital assets, but they secretly want to know how to detect it.

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MPatMarrisonFor over a quarter century, we have helped people during what is often the darkest time in their lives. Divorce is not easy even under the best of circumstances. For most people, family is central. Having something go wrong in the family can have a ripple effect that extends beyond the home and into other areas.

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