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While a divorce case is pending, one of the things the parties are tasked to do is come to an agreement on how marital debts will be divided. If possible, the party not responsible for paying the debt under the divorce decree will usually try to have the debt refinanced in the name of the other...
With the downturn in the economy over the last several years, the need to consider severance packages and how they are allocated during a divorce has become more common. A severance package typically consists of pay and benefits an employee receives upon the termination of employment. In...
Jeffrey Landers at Bedrock Divorce Advisors, LLC is a Divorce Financial Strategist who works exclusively with women going through financially complicated divorces. He has recently written about the tax implications of "alimony payments" (called maintenance in Colorado). In particular, Mr. Landers...
Employer Contributions to Employee Benefits Are Usually Not Considered As Gross Income When Calculating Child Support in Colorado
I wrote last week on the confusion that can arise when considering whether Social Security benefits are included as "gross income" under Colorado's statutory child support guidelines. There are also numerous "fringe" benefits a spouse can receive from his or her employer that may seem like income...
Considering Social Security Benefits as Part of Gross Income for Colorado Child Support Calculations
Colorado has specific state-wide guidelines that are used in calculating a parent's obligation to pay child support. The purpose of the guidelines is to provide "an adequate standard of support for children, subject to the ability of parents to pay." C.R.S. § 14-10-115(1). The child support...