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Understanding asset division laws can help in negotiations

Tolison & Williams | 12 January, 2014 | Divorce, Family Law

In a perfect world, divorce proceedings would be quick, tension free, easily negotiable and fair to both spouses. Fortunately, it is possible to come to a settlement that both parties feel is fair. However, getting there may take time and may be fueled by emotions that could make it harder to have an amicable parting of ways. For many Colorado couples, one of the greatest areas of contention while working through divorce proceedings is the asset division phase.

The division of money and property can create a lot of hard feelings. Sadly, threats are sometimes made, particularly with regard to finances, in an effort to stop a spouse from filing the initial divorce papers. Understanding the laws of Colorado regarding the division of assets can help those who may be in that type of situation to make an informed decision while they are weighing their options. Colorado is considered an equitable distribution state, so those who do decide to pursue a divorce can negotiate a fair settlement based upon a fair apportionment of assets and liabilities.

Aside from educating oneself as to the laws of the state in which they live, trying to remain positive and not reacting to any threats being made -- unless they are threats of physical violence -- can help ease emotions that are already fragile. Keeping emotions in check is particularly important if children are involved. Remembering that children are also emotionally struggling during the divorce process can help parents keep the experience a little more cordial.

The subject of asset division may be a challenging topic, but creating a plan that provides equal protection and doesn't leave either spouse financially harmed can be a reality. Knowledge of applicable laws and what can be expected during divorce proceedings will help make the situation easier. While the experience of divorce may not be pleasant, it is possible to come to an agreement both spouses can feel satisfied with.

Source: Forbes, How To Cope With Your Husband's Financial Threats During Divorce, Jeff Landers, Jan. 8, 2014