Although it’s certainly not the most romantic course of action to take at the beginning of a marriage, it can pay for new spouses and spouses-to-be in Colorado to put some thought into how to treat their assets and property before and during their marriage. Most people are aware that about half of all marriages end in divorce these days, so it could be a very good idea indeed to be prepared. This blog post will provide some tips that may work for many spouses and couples. For guidance in handling a specific situation, legal advice should be sought from an attorney.
First, many couples may find it advantageous to enter into a prenuptial agreement before tying the knot. This step could prove helpful for both spouses because it can clarify the issue of which property is and is not subject to division upon divorce or death of a spouse. Also, it is very important to keep accurate records of the assets and property to be kept separate from the marital estate. This property could include property owned before marriage and property inherited after marriage.
Speaking of property owned before marriage and property inherited after marriage, it can be a great idea to keep this property separate from marital property and to avoid commingling it with marital property. This will make it much easier for this property to maintain its separate status and avoid being classified as marital property subject to equitable division.
The determination and valuation of marital property can – and often is – a contentious and complex issue in divorce proceedings. People grappling with these issues in a divorce should consider getting professional advice and assistance from an experienced family law attorney.
