Moller Law Group
Moller Law Group Moller Law Group
Schedule Your Consultation Today
Call Us At 719-900-3792

Woodland Park Family Law And Estate Planning Law Blog

Dividing up property during a Colorado divorce

It is not uncommon for married people to embrace the saying, "What's mine is yours, and what's yours is mine." It generally means that individuals who have committed their lives to each other are willing and able to share that which they acquire with the people with whom they have decided to spend their lives. However, in the world of property, identifying what is "mine" or "yours" is important if those individuals decide to go through a divorce.

The property that the parties to a couple own must be divided up in the event that their marriage ends. Property that is identified as separate will go with its individual owner. Separate property may be considered the property a person owned before they got married that was never converted to marital property; it may also be property that was gifted exclusively to one party to a marriage.

Does your estate plan need to be updated?

Your estate plan is not something you should create and just forget about. Life is full of changes, and for your estate plan to be as effective as possible, it should reflect those changes.

It is good practice to review your estate plan with a professional about every three years. However, there are several circumstances that warrant a plan being checked over right away.

Estate planning takes the worry out of an uncertain future

Readers of this Woodland Park-based legal blog may have been shocked to learn of the sudden passing of actor, Luke Perry. Perry was only 52 when he succumbed to the effects of a massive stroke and died days after being taken to the hospital. While his situation is a tragedy, it is also a good reminder for Colorado residents that the future is uncertain and it can be wise to make important decisions before it is too late.

This is especially true when it comes to estate planning. An estate plan is a set of legal tools that explain how a person wants their estate distributed when they die and who has control over certain important management aspects of ensuring those wants are honored. An estate plan does not have to be fancy to accomplish the goals of the person who creates it.

Circumstances when sole custody may be appropriate

Even when Colorado parents cannot agree on most things in life, they will agree that they want what is best for their children. During separations and divorces, parents may dispute the other's assertions regarding property and support needs but may find it easier to come to common terms about how to serve their children's developmental, physical, and emotional needs. With the help of their family law attorneys, they may find balanced plans that afford both parents time and opportunities to be with their kids.

In some circumstances, though, courts may elect to give exclusive custody to one parent rather than allowing the parents to share in such responsibilities. Sole custody may be appropriate in some cases when the safety of the children is in question. Parents who have committed physical or sexual abuse against the kids may be denied custodial rights; severe emotional abuse can also bar a parent from having custody of their kids.

What is the Older Americans Act?

In many cultures, older individuals are viewed as wise elders who are sought out as important resources regarding the communities' history and practices. They are a significant part of their cultural groups and provide wisdom to those who plan to take the reins of power. These views are not always applicable in the United States, and readers of this blog may recognize that, in some cases, older individuals are seen as burdens on their younger family members and colleagues.

The Older Americans Act was passed to recognize the value of individuals age 60 or older and the contributions they make to their communities. It is also in place to ensure that older Americans and their care givers have access to the resources and support they need to allow them to live healthy and fulfilled lives.

Residency requirements for a Colorado divorce

Divorce may be far from a person's mind when they walk down the aisle with their intended. However, as readers of this blog know, divorce affects a number of first-time and subsequent marriages each and every year. Divorce is not just an issue for Colorado residents: across the nation, many marriages fail and end in divorce courts.

In order to pursue a divorce in Colorado, an individual must meet several requirements. One of those requirements relates to their residency. Though this post will address the topic of residency for the purposes of divorce in detail, readers should speak to their own divorce attorneys about what they must do to begin the divorce process, as this post does not offer any legal advice.

Estate planning strategies to avoid probate

Probate is not an inherently bad process. In fact, for individuals who pass away with incomplete or vague estate plans, probate can help sort out testamentary issues related to the distribution of their assets. However, many Colorado residents wish to avoid having their estates be probated. This is because probate can be costly and can tie up estates for months as problems are slowly worked through.

There are some ways that individuals can avoid having their estates probated. One way is to use financial devices that allow for death beneficiary designations. These accounts allow the account owner to name who they want to receive the assets upon their death. For example, a parent may name their child the death beneficiary on their retirement account and, therefore, the account would become the property of the child when the parent died.

3 Reasons why you should avoid a DIY divorce

Do-It-Yourself (DIY) projects are great when you want fresh ideas on how to decorate for a party and you want to save some money. But the concept is not so great when your future, finances and children are on the line. It may appear appealing to save money and push yourself through a divorce process bypassing proper legal representation, but you might want to think twice before venturing down that path.

Couples who separate are often imbalanced financially afterwards. The lack of immediate funds to secure a divorce lawyer, may lead to taking the “easy” way out, but suffer long-term as a result. Unfortunately, the one who bears the cost of a botched divorce is yourself and any children who are at the mercy of your execution and decision making.

Now is a great time to assess your estate planning needs

Thoughts about the future are common as the end of the year approaches. Across Colorado individuals may be making plans to meet 2019 with renewed vigor and a commitment to reaching their goals. However, those plans may be relatively short viewed in the great scheme of things. Many people could benefit from taking a close look at their estate plans and end of life arrangements.

An estate plan sets forth what will happen to a person's assets when they die. It can be a simple arrangement of documents that provide clear directions to their estate administrators about where their wealth should go, or it can be a complex arrangement of legal tools that ensure their beneficiaries are identified and provided for. What readers should realize is that estate plans can be written to serve the specific needs of their creators and to accomplish their goals with regard to their end of life wealth.

The role of a child's preferences in their custodial plan

On any given day a child may prefer to have one parent in charge of them. If a Colorado youth got into a fight with their mother, for instance, then they may prefer to spend the rest of the day with their father. If their father told them it was bedtime, the child might run to their mother for a reprieve.

When parents work together under the same roof, then they can balance out their children's desires and changes in attitude toward them. However, when it comes to establishing parental responsibilities subject to a child custody plan, parents may not fully understand their children's deeply held preferences regarding where they will live.

Email Us For A Response