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Denver Family Law Blog

Three myths surrounding money and parenting

Most parents understand the high costs of raising children. However, many parents don't anticipate the additional financial burden divorce creates, along with raising their kids.

Luckily, single parents could save money and still teach their children about the value of a dollar if they look past these three common myths surrounding parenthood and money.

How will the current health crisis affect existing family law concerns?

Whether you call it the Coronavirus or Covid-19, there is no doubt it has descended on us with very little warning and changed our daily lives in significant ways. Both health concerns and the economic impact have had a ripple effect that has carried into divorce and family law litigation. The long-term effects are still unknown, but several immediate effects to divorce and family law litigants can be identified:

Should parents keep their kids out of custody proceedings?

Changing a family dynamic is incredibly challenging - for both children and their parents. However, there are circumstances when families must evolve, including times when parents divorce or separate. The need to sort out separate living arrangements will arise regardless of whether the parents were ever married to each other or not.

Shifting the family living arrangements easily leads to significant tension between parents. Parents may even be tempted to involve their children in the proceedings. But should that happen?

Should I bring friends to a meeting with my attorney?

Divorce proceedings are incredibly complicated, especially when children are involved. It makes sense that you need to find an attorney who balances legal skills with the right demeanor.

Many people rely on friends and family for emotional support and to help find the right lawyer for their specific situation. However, should you bring a friend or relative to an initial consultation with a lawyer?

How to get a reasonable settlement in a divorce

Divorce is a challenging experience, and it's easy for a divorce to become much worse if it turns into a legal battle. It makes sense that most couples would try to find a reasonable settlement for both parties without taking the battle to court.

However, you need to know how to identify realistic expectations before negotiations even begin. But what is a reasonable settlement? And how do couples settle on a reasonable solution?

The significance of "assets" in divorce

Divorce is always more complicated than couples expect, especially when you start hearing legal terms such as property division, equitable distribution or parental rights. However, there is one legal term that most couples do not deeply analyze - the word "asset."

In most situations, asset means property owned by a person or company and is associated with having value or use. However, in a divorce context, asset takes on a more significant meaning because everything a couple "owns" may not be considered an asset in the eyes of the court, and even if it is, it may not be considered a marital asset and subject to division.

Could your prenup be invalid?

You had the idea for the prenuptial agreement long before you and your spouse got married. You knew what you wanted: financial protection. You had a lot more wealth than your significant other. While you were dating, you didn't worry about it that much. Getting married was a serious step forward, though, and you knew you needed to protect those assets.

So, you got the prenup. You have assumed ever since that it would protect you during a divorce. It gave you peace of mind.

Putting a price on business during a divorce

Entrepreneurs are under a massive amount of stress. Between managing employees, balancing accounts and providing services, business owners have to maintain everything to keep their company from sinking under the competition.

It's even more stressful under the weight of a pending divorce.

What is marital or separate property in a Colorado divorce?

One of the first steps you need to take when trying to figure out how the courts will split up your assets in a Colorado divorce is to determine which assets are marital property and which ones are separate property. Your marital assets,  which may include your family home, are usually subject to division under Colorado's family law statutes, while in most cases your separate property will remain yours even after the divorce is over.

Figuring out what is your separate property and which assets are marital property can sometimes be confusing.

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