There is no tax on divorce settlement at the time of divorce, but each spouse is responsible for paying future taxes on their share of the assets.
In a Colorado divorce, a cause of action which arose during marriage is marital if a claim was filed prior to divorce. And any settlement received is income for the purposes of support and maintenance.
Social Security is not a divisible asset at divorce, but the former spouse is entitled to benefits based upon the employee spouse’s contributions.
Brief overview of some of the common bankruptcy issues that may arise in a dissolution of marriage or family law case.
Who keeps the engagement ring when the engagement ends depends upon who ended it, and why. Colorado no longer recognizes other torts for a jilted fiance.
Paid time off (aka vacation time) may be a valuable asset subject to division at divorce, but only whether its value can be ascertained.
Student loans incurred during marriage are marital debts to be divided equitably, but not necessarily equally.
We love our cats & dogs, however under Colorado law they are not children, but property subject to division like any other asset.
There are two primary types of retirement accounts, defined benefit and defined contribution pensions. Both are marital assets subject to division at divorce.
Courts favor finality of judgments, so the burden to modify a property settlement is high.
Governmental pensions are subject to division at divorce like any other retirement account, but the division will be governed by specific state & federal laws.
If the fertility clinic agreement does not address disposition of embryos at divorce, Colorado has no bright line rule, but balances the spouses’ interests.
Company stock options are assets subject to division, depending upon whether the enforceable right to the options was during marriage.
At dissolution, the marital estate, consisting of the parties’ assets & debts, will be divided equitably.