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Denver Family Law Blog

In Colorado, trusts make asset protection easier

When you're getting a divorce, you can protect your assets with something called a domestic asset protection trust. This trust is also known as DAPT and is a strategy some people have been using in place of a prenuptial agreement. It's believed that wealthy people have been able to essentially hide assets from creditors with this kind of trust, and that can work to protect assets during a divorce, too.

How it works is simple. The DAPT is an irrevocable trust. It means that you relinquish your rights to the assets and can't control them. The trick is that you're allowed to be a beneficiary of the trust as well as the creator, so you can get your money and assets at a later time while protecting them now.

Marital property in Colorado: Protecting and splitting assets

In Colorado, your divorce could lead to a number of questions. Who gets what property? How will your assets get split up? Marital property should be divided up in a way that is fair and equitable. What kind of property does that include? By definition, marital property is any asset or debt that was acquired while you were married.

Credit card debts, mortgages and loans may be included in those debts, while things like furniture, 401Ks and retirement accounts could be considered marital property and assets you've collected if you've gotten them during your marriage. Of course, divorces can be incredibly complex, which is why it's important to know the legal ins and outs of the process.

Are divorce records private in Colorado?

Court proceedings are typically public in Colorado. In many cases, that includes divorce cases. Unless the court you go to determines that the case can be placed under seal, your divorce will be open to public record. There are some exceptions to open court records, of course. That may include protecting divorce records due to sexual abuse, for example.

When you or your ex want to seal the record, it's normal for at least one of you to ask, if not both. If you don't, the record is likely to be left open. Making the decision is up to you, but the judge may determine if the request will be granted or not. The court must decide if the party will be damaged more by an open record instead of a closed record. Normally, there is a presumption that court records are open to public scrutiny.

What is divorce mediation in Colorado?

What is divorce mediation? It's simply a time where divorcing or separating couples can take the time to plan their lives and to make decisions about their futures. Divorce mediation is sometimes suggested for parents, since they will need to continue to communicate to make joint decisions for the safety and health of their children. Others who may benefit are those looking to avoid financial complications from an expensive divorce or those who don't want to go to court to avoid emotional stress.

In mediation, the mediator is a neutral party. He or she will work with the two in mediation to work out issues to do with the divorce. During mediation sessions, each person is given time to speak without interruption, and questions are asked to make communication clearer. Mediators essentially make sure the parties can communicate without a complete breakdown or halt in the process.

Oil tycoon's billion-dollar divorce heads to trial

The most expensive divorce in history took place in May 2014, but this story discusses the divorce that may just blow that divorce's settlement out of the water. The news has reported that an Oklahoma oil tycoon, a 68-year-old man worth around $20.2 billion, is going through a divorce that could cost him close to half his fortune.

The man's wife, who has been married to him for 26 years, is a 58-year-old woman who has the potential to receive up to $8 billion during their divorce settlement. The trial for the couple's divorce is expected to last eight weeks, and it will address the couple's assets.

Asset protection key in equitable distribution divorces

When you go through a divorce, it's important to know that what is equitable doesn't necessarily mean that it's equal. Asset protection is a vital part of making sure you get what's yours; you do need to remember that your marriage is a financial partnership, and this can work in your favor.

Colorado is an equitable distribution state. That means that your assets and debts will be divided equitably when you go through a divorce. What that doesn't mean is that your property has to be split equally. In fact, not every account you own will be equally split.

Same-sex couples in Colorado face complex child custody situation

For same-sex couples living in Colorado, things can get to be rather complicated when it comes to child custody. This is because the laws about child custody are still quite unclear in their situation. This is something that can even make it hard for them to start a case since the lack of black-and-white laws makes things difficult to approach.

For example, one mother is trying to retain custody of her child in Fremont County. When she and her partner ended their relationship, they already had a young son. Neither one wants to be left out of the boy's life, and they've agreed on that point. However, getting through the court system has not been easy even though they agreed.

New Mexico children found in Colorado after Amber Alert

If you're going through a divorce, the last thing on your mind is likely to be your ex taking your children and running. That's sadly what appears to have happened in this case involving a mother and two children in New Mexico.

A pair of children from New Mexico who had been missing have been found in Colorado, according to the news from July 16. The children were part of a child custody arrangement, but they were allegedly taken by their mother without consent. The New Mexico State Police had issued an Amber Alert for the children, but that has now been dropped.

Jewel and Murray announce divorce and commitment to son

If you are interested in celebrity divorce news from around the United States, then you may have heard about Jewel, 40, and her pending divorce from Ty Murray, 44. They have been married since 2008 when they had a wedding in the Bahamas. People magazine writes that the two have been together for 16 years, six of which were while married. The couple has been separating through "thoughtful and tender undoing," according to Jewel.

If your divorce in Colorado is similar to this one and has needed only mediation or slight legal assistance, then you may appreciate the way the couple is handling their situation. Of course, if it's not, don't worry. You can get the help you need to get through this difficult time and move on with your life. Mediation could help if you don't want to head to court, or you can seek legal representation to make sure you get what you deserve out of your divorce.

Gay weddings in Colorado could cause legal problems later

As a couple, you deserve to have all the same rights as anyone else. That includes the right to marry, divorce and vie for custody of your children. Coloradoans might have heard about gay weddings that took place despite the fact that Colorado, as a state, does not recognize those marriages yet. Some are arguing that this could later cause legal chaos, making child custody, asset protection and other divorce issues difficult to determined.

Here's an example of how child custody could be affected. Two people, at the moment, can get married in Colorado despite it being a gay marriage. That's okay for now, but later, if the marriage ban is enforced in the state, those marriages can become invalid. That could threaten people's legal right to child custody or even to a divorce.


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Denver, CO 80246

Phone: 303-945-3499
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Fax: 303-757-2695
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