When going through a divorce after many years of marriage, one of the most difficult things can be the process of dividing property. This is because it is likely that your assets have become somewhat intertwined over the years, and you may not see eye to eye on who has rightful ownership of certain property.
Colorado is an equitable distribution state when it comes to how property is divided up among spouses when they divorce. Unlike community property states where marital assets get split right down the middle, in an equitable distribution one like Colorado, they're instead divided up using a set criteria.
A divorce is an issue that millions of people face during their lifetime. When a marriage is no longer sustainable or healthy, the best way to end it is through a divorce. Separation is also an option, but simply separating doesn't solve a lot of the problems that many couples face. If you are moving toward a divorce in Colorado Springs, you should start protecting your financial footprint immediately.
When you are dividing assets during a divorce, it can be very difficult to come to a complete agreement on how assets should be valued. There is likely to be a great deal of assets of sentimental value in the mix; therefore, it can be difficult as a divorcing couple to be objective on these issues.
One of the most difficult aspects about divorce is often the fact that two people who used to be close no longer see eye-to-eye. Statistics show that in 75 to 90 percent of all divorces, one person initiated the divorce while the other spouse wanted to remain married. This, of course, creates a very hostile and unhappy environment from which to start the process of dividing assets.
The fact that you are going through a divorce with your spouse is a good reason to suggest that you are not currently on the best of terms. Therefore, working together to achieve something, such as the successful division of assets, is not going to be easy. There will likely be conflicts and things might get heated. However, the important thing is to keep your cool and keep in mind what you want to achieve in the process. The following are some tips for successfully going through asset division, without being taken for a fool.
Many aspects of a brand or a company are intangible. When selling your business due to property division as a consequence of divorce, it is vital that you understand the true value of your assets. It is often these intangible aspects that are the most valuable and important assets within a company. It could be the good reputation that took years to build, or customer databases that form the foundations of your marketing strategy. But how are they valued?
Break-ups are always difficult, whether you parted amicably or not. If you have been living together but not married, the practical aspects can be especially hard. When married couples split, they can go through the divorce process and have a legal reference for the division of assets. But for unmarried couples, things are a little less clear-cut. It's important to make sure that your ex doesn't take advantage of you or the situation when dividing assets.