THE REPRESENTATION YOU NEED IN ORDER TO PROTECT YOUR FAMILY
Most Common Divorce Myths
Posted in Divorce on January 31, 2018
Divorce has become a more common occurrence in recent times. As the trend grows, information about the technicalities of divorce has circulated amongst citizens in Colorado. Some of this information is factual and some isn’t. It’s important to separate fact from fiction and understand the actual stipulations involved with divorce law.
Property and assets are major aspects that arise in a divorce from a spouse. Many people believe that along with shared items, inheritances are owned jointly once you are married. In Colorado, unless you explicitly added your spouse to the paperwork, the only parts of an inheritance that could be considered marital property are the gains that you have received from the inheritance. The inheritance in principal is not in play when you are splitting up the assets.
Another mistake that many divorcing people discover surrounds the money they get from the proceedings. Some believe the money they receive from the divorce is simply a reward. They take expensive trips, buy fancy cars, or make other extravagant purchases. This can often lead to financial issues, as spending that money immediately is unwise unless you have a stable job with a solid financial future.
Alimony payments for instance, shift tax responsibility from the payer to the recipient, so this must be accounted for. Another unwise choice often made is to keep the house the couple lived in previously if the property is awarded to one party after settlement. Whether it is for emotional and sentimental worth or a planned retirement asset, a large house that you cannot afford will usually turn into more of a financial burden than anything that will help you.
Children are arguably the most prominent, and most important factors in divorce cases. Deciding where a child should go or how much time your children should spend with each parent can quickly become a complicated process. Some people believe that the mother automatically gets primary custody of the child. Statistically, mothers often receive primary custody, but this decision is related to the time spent with the child and other factors and is not an automatic decision.
Most judges decide custody depending on which parent does most of the parenting, keeping in mind the best interests of the child. Both parents are offered an equal opportunity for primary custody. Even if the parent without primary custody falls behind on paying child support, it is not legal to prevent him or her from seeing a child. The Colorado court system sees child support and visitation as two separate factors.
Another false belief is that the nature of the end of the relationship is a factor. In Colorado, the judges follow a “no-fault” rule. Even if one of the spouses cheated on the other, it is not considered a factor in how the divorce proceedings play out. However, if it seems as if one spouse is seeking revenge or has malicious motives, the courts will often take this into account.
Some believe that it is allowed – even smart – to secretly set aside money for yourself while you are going through a divorce or before it happens. This may be considered fraud, depending on the source of the income. Another false opinion is that things are automatically divided 50/50. The Colorado court takes many factors into consideration that may not lead to a 50/50 split.
Divorce law can be complicated, and anyone with questions on technicalities on divorce in Colorado should seek legal counsel to protect their interests. For more information, visit our divorce resources page.