There are many reasons why individuals turn to bankruptcy to address the debts plaguing them. You may be unable to work because of a sudden illness and cannot recover financially because of the lack of income and influx of bills. Or, maybe your credit card bills got out of hand and you can no longer afford to pay them. In cases that involve high debt, bankruptcy can help you to regain control.
Important reminders about child support
Children should not have to pay the price for their parents' decisions to end their marriages. That is why in Colorado and other jurisdictions throughout the nation courts order parents to pay child support. Child support is money that custodial parents may use to provide their children with basic needs as well as to cover costs for their entertainment, activities, and other expenses.
What is the significance of legal custody?
Children are unique beings that have different needs from their parents. When two parents go through a divorce the careful balance that they have created to provide stability for their children may be upset by the turmoil in their relationship. When Colorado families are pulled apart due to divorce, children can be left with uncertainty in their lives.
Property that may be subject to division during a divorce
Martial property is subject to division during a Colorado divorce. While the separate property that individuals maintain will remain their individual assets once their marriages are over, martial property must be split amongst the spouses with each spouse taking their share of it into their new independent life. Many marital assets are easy to identify, such as homes that were purchased during the course of a marriage. Other assets may be more easily forgotten over time and left out of marital property assessments.
