Divorce is a complex and emotionally challenging process that can have a significant impact on your life. If you are considering a divorce in Colorado, it is important to understand the specific laws and regulations that apply. Here are four things that most people don’t know about divorce in Colorado:
Residency Requirement:
In order to file for divorce in Colorado, you or your spouse must have been a resident of the state for at least 91 days prior to filing. This requirement ensures that Colorado has jurisdiction over the divorce proceedings and allows you to proceed with your case.
No-Fault Divorce:
Colorado is a no-fault divorce state, which means that you do not need to prove that either spouse is at fault for the dissolution of the marriage. All you need to do is state that the marriage is irretrievably broken, and this is sufficient grounds for divorce. This eliminates the need to assign blame and can help facilitate a more amicable and efficient divorce process.
Division of Property:
Colorado follows the principle of equitable distribution when it comes to dividing marital property. This means that the court will aim to divide marital assets and debts in a fair and just manner, taking into account various factors such as the financial circumstances of each party, the length of the marriage, and any prenuptial or postnuptial agreements. It is important to note that equitable does not necessarily mean equal, and the division may not be a 50/50 split.
Mandatory Financial Disclosures:
In a divorce case in Colorado, both parties are required to complete and exchange mandatory financial disclosures. These disclosures include detailed information about your income, assets, debts, and expenses. Full and accurate disclosure is crucial to ensure a fair division of property and support arrangements. Failure to provide complete financial information can lead to legal consequences and may undermine the integrity of the divorce process.
Navigating the complexities of divorce can be overwhelming, but having a good understanding of the specific laws and regulations in Colorado can help you make informed decisions. Call the Drake Law Firm today to speak with an experienced member of our team.