Colorado residents who make alimony payments get to take a tax deduction for the amount paid. For divorces that are finalized starting in 2019, however, alimony will be treated like child support. The person who makes the payment won't receive a tax deduction while the receiver won't count it as income. There will also be changes for parents who get divorced in the near future.
Divorce is never an easy road to go down. Even if your assets only consist of a couple of cars and a house in Greenwood Village, you could still be facing weeks if not months of negotiations before you reach a divorce settlement. However, if you also own a business, planning for your divorce becomes even more important to your future financial stability.
In divorces here in Colorado, among the things that can have big impacts on parents and families are the state’s child support guidelines. These guidelines are what courts in the state use to calculate payment amounts when child support decisions come before them.
When people in Colorado make the decision to divorce, sorting out financial matters can be one of the most complex parts of the process. Retirement funds are often the largest assets held by a couple. These types of investment funds can be a major vehicle for future savings and pose some tricky questions when it comes time for property division in a divorce.
Ending a marriage is not easy, even (or especially) if the decision was not yours. You might be feeling angry at your spouse and scared about what your future will look like. You can also feel overwhelmed by the prospect of supporting yourself, particularly if your spouse was the primary earner in your family.
A recent report points to it being the norm in custody matters here in Colorado for fathers and mothers to get equal time with the kids.
What is a toxic co-parenting relationship? If you're in such a relationship, you know exactly what's meant by "toxic" in this context. When two people have a child together and later split apart, they will usually stay tied to one another through their kids. As co-parents, they will need to navigate various decisions about raising their children, how to share their time with their kids and coordinate pick-up and drop-off times and locations.
You and your spouse split up six months ago. It was fairly amicable, all things considered. Neither of you planned for the marriage to end this way, but you were able to grit your teeth and keep from arguing. You both knew it would not help, so you acted civil no matter how you felt.