Many couples opt to start a business together during a relationship. For some, this is a chance to get involved with something together. Both parties might take a hands-on approach to running the company. This may work as long as they’re in a relationship, but it can lead to problems if they opt to divorce. Once they make the decision to divorce, they have to determine what will happen with the business. This is a decision that has to be…

The process of going through a marital dissolution in Colorado can understandably feel unsettling from the start. In fact, divorce can be emotionally draining even in what appears to be a relatively amicable divorce. Unfortunately, making momentous financial decisions can be difficult when one is trying to juggle the emotional challenges of divorce as well. For this reason, hiring a Certified Divorce Financial Analyst, or CDFA, is a wise move prior to getting a divorce.  A CDFA can help a…

Business owners have unique issues to consider when ending a marriage. For many Colorado small business owners, a business is the most valuable asset that exists in the marriage. That also can make it the most vulnerable when it comes time to divide property in a divorce. The outlook for an individual business depends on a variety of factors. If a prenuptial agreement exists that explains what should be done with a business in case of a divorce, this will…

The end of a marriage can bring serious changes for both Colorado spouses, especially regarding their finances and plans for the future. Money is one of the most complex and contentious issues to address in a divorce, and it’s prudent to consider long-term implications when making any important decisions. Protecting financial interests is an important concern during and after a divorce.  During the divorce process, it is helpful to keep careful notes of all conversations related to the finances. It…

A stay-at-home spouse often has complete dependence upon their partner for financial support. When the source of income is a family business, both spouses may play roles in the company, but only one might have a working knowledge of what’s going on with the finances. This can work well as long as the marriage is on a good foundation, but it can pose a problem if things shift and the marriage becomes rocky. In some cases, the downfall of the…