Pension assest acquired during the marriage in Colorado are subject to equitable division in a divorce. Although there are many ways of measuring the value of the assets, one basic method is for a defined benefit plan (montly payment such as military pension) is to apply the “Hunt” formula. Drawn from In re Marriage of…
Category Archives: debts
Before you hire a mediator for your divorce in Colorado, you should consider the following: 1) Gather investments and bank statements for at least the last year. 2) Copy tax returns for income and investment history. 3) Pull your credit report to review your debt history and status. 4) Open an individual bank account. 5)…
TAKING FINANCIAL INVENTORY BEFORE YOUR DIVORCE Diving into stacks of belongings, stocks, debts and savings that need to be dealt with in the face of a divorce can be an especially emotional and taxing task. It’s tempting to rush through it to spare some pain and time or to get bogged down in conflict over…
Often parties after a divorce ask if some other type of payment can be considered spousal support. To be considered spousal support, the payment MUST meet the following requirements: 1) All payments must be made in cash, check, or money order. If the payor is paying the payee’s rent or mortgage payment directly, it may…
7 Reasons to Consider Mediation: Save Money – When working with Scott Baroway, you get a professional family law mediator who has over 25 years of legal experience, who is available to talk with you both, respond to your emails, and prepare all your documents usually for less than most individual lawyers charge for their…
As a divorced spouse, you my be entitled to receive Social Security benefits based upon your ex’s earning hsitory if you meet a number of criteria. This is true, even if your spouse remarries (However, you may not remarry): Your marriage lasted 10 years or longer; You are unmarried; Your are 62 or older; The…
Why Divorce Mediation Fails. Despite all the advantages of mediation, my experience has shown there are three main reasons why the mediation process fails in a divorce case. If you aware of them and can avoid these pitfalls ahead of time, your mediation stands an extremely high chance of being successful. Secret keeping – Something…
In part 2 of this segment on financial planning after divorce, here are a few more tips for surviving after the financial pinch of divorce. Start right now. Get the new financial planning momentum going immediately. It will quickly turn into a habit that can only make your life better. If you fall into the,…
Post Divorce Financial Planning – Part 1 After your divorce is finalized, you must put effort into restarting your long term financial plans. No doubt this life change has reduced your disposable income and made living twice as expensive as before. This is not the time to plow money into retail therapy. The financial demands…
In all likelihood, divorce is a new world for you to navigate through. During all the confusion that comes with process, the last thing you are probably concerned about is your credit score. However, credit scores after divorce may play a major role in the rebuilding of your life. New credit cards, car loans, mortgages,…