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Denver Family Law Blog

How business valuation can be performed

Determining your business's value can make it much easier when you go through a divorce. Your business' value can play into the kind of assets you split and how they're split, so knowing the value is actually great leverage to have.

When you run a business, you likely appreciate having your business for the income stream it creates. Now that you're going through a divorce, your valuation can help you decide how to either split the business or what to split in order to keep your business separate. You need to define what your business is actually worth to do this accurately.

How much child support can you receive?

Child support requirements aren't something that you should have to worry about; you should pay or be paid a fair amount based on your income. In a fair situation, your children will receive the amount of care and financial support that they would have done in a non-divorced family. In Colorado, the child support guidelines are based on a model that suggests that the children should receive enough financial support to live as they would if their parents were married.

Essentially, the child becomes entitled to a share of each parent's income, which is why the model is called the "income shares" model. The income that becomes child support is only allowed to come from you and your ex partner. For example, if you're the father and the primary custodian of your children, you'll use a portion of your income as support and you'll receive a portion of your ex-wife's income to support your children as well.

Protect your business and assets during your divorce

As a professional, you have many assets to protect as you go through a divorce. You earn good money, have investments, and have a reputation to protect. The last thing you want is for your divorce to damage the life you've worked so hard to achieve.

It's true that your divorce may have many more issues come up than a divorce involving those with fewer assets or business holdings. There's more at stake in your case, and protecting your assets is going to be one of the things you need to do to protect your investments, business, and financial stability.

Alimony in Colorado: How it works

A new state law went into effect on Jan. 1, 2015, in Colorado which developed and determined a formula for alimony payments. Why does a spousal maintenance formula need to exist? The answer lies in the fact that without one, there is no way to know how much money should be awarded or what to expect when alimony is granted.

When there isn't a formula to determine how much alimony someone should receive, then it's up to a judge to determine how much should be paid in alimony. If one partner has high assets and the other can earn good money as well, the alimony payments could be low. In another case with the same situation, a judge could decide that the higher earner should make up the difference between the pair's paychecks, making the higher earner pay a substantial amount of alimony.

Can you use a trust to protect your assets?

Your money, property and other assets are important to you, not just because you've earned them, but because they represent the things you've been through in your life. If you can't imagine giving these things up in a divorce, then you need to look for ways to protect your assets. Without a prenuptial or post-nuptial agreement, you may think you're out of luck, but you could still have options available to you.

Trusts are one of these options. If you have assets that have always been in a trust, even before your marriage, they will generally be treated as separate property. That means that you shouldn't have to worry about your premarital assets being split in your divorce.

New 50/50 child custody bill to be voted on in Colorado

If you had the option to spend an equal amount of time with your child as your spouse following a divorce, would you want that to happen? A new bill being proposed in Colorado could make a 50/50 visitation split the new normal. According to an article from April 14, the bill is seen by some as being fair, since each parent gets equal time with the child during divorce, but others have concerns.

People who are opposing the bill have done so for a few reasons. For one thing, if the child was in harm's way during the divorce, like in the case of a parent being abusive, this would make it move likely that the child would still have to spend time with that abuser. Until abuse is proven, there could be little anyone could do to prevent the parent from seeing his or her child.

Substance abuse issues? You can still seek visitation in Colorado

When you're going through a difficult divorce, the last thing you want to find out is that your past or current alcohol or drug problems are going to result in you losing visitation or custody rights to your child. Unfortunately, although you may know that Colorado is a no-fault divorce state, substance abuse issues can still be used to determine parental responsibilities. Severe abuse that threatens a child could be enough to cost you visitation rights completely, but that doesn't mean that you won't ever be able to see your child again.

When you've faced addiction problems and now have to face a divorce, the thought of also losing access to your children is devastating. It's important to know that while the past can be used to determine your parental responsibility in some ways, you still have a right to see your children.

Property division and your divorce in Colorado

The last thing you were probably expecting when you got married is that you'd eventually get divorced. Even if you planned for it, both you and your now-ex probably claimed you'd be kind and fair to one another. Those claims might have been true while you were on good terms, but that may not be the case now.

One of the main things that can set off arguments during a divorce is the division of property. If you've been married a long time, both of you may feel that you're owed certain things out of your marriage. What's fair and equitable to you may not be to your ex-spouse, though, and that's where the problem lies.

Think about the future before you settle your divorce in Colorado

When you're going through a divorce in Colorado, making mistakes can cost you a lot of money. Not asserting yourself during your divorce could result in the other person taking advantage of you, and not understanding what you're giving up could be a problem, too. Here's a few things you need to consider before settling your divorce.

If you choose to keep the house, remember that you'll have to pay for it each month without the other person (if it isn't already paid off). This means you'll be paying the mortgage out of your own paycheck, and if you're not used to that, it can be a large financial strain. Additionally, if you decide to sell the house, you could face large taxes on the sale, making it less beneficial than you expected.

Does domestic abuse affect my right to custody in Colorado?

Custody is a difficult topic during a divorce, especially if you're concerned you won't get the time with your child that you want and need. In a case that involves domestic abuse, you may have several questions to ask about the laws in Colorado. Here are the answers to just a few.

As a victim of domestic violence, you may have left your home before filing for divorce. That's perfectly reasonable, and the law should not work against you. According to the law in Colorado, if you have to leave your home due to an act or threat of violence, your absence from your child's life isn't supposed to be used in court to help make any decisions. If you haven't yet left the home, there are ways to make a plan to legally take your children with you. This can also work in your benefit, so it's something you may want to consider.

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Zuber Law P.C.
950 South Cherry Street, Suite 300
Denver, CO 80246

Phone: 303-945-3499
Toll Free: 866-492-3572
Fax: 303-757-2695
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