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On divorce papers, How do list financial assets individually?

Fort Collins, CO |
Filed under: Divorce

We have been separated for 8 years. We live as if we are single. But the paper work ask's for it combined?

Attorney Answers 3

Posted

There are a lot of places on the Sworn Financial Affidavit that ask for you to check off a box of whether the assets are Petitioner's, Joint, or Respondent's. You need to do that with respect to real property, bank accounts, etc. Did you acquire it prior to the marriage? Did you agree to separate it when you separated? I understand that you have been separated for a long time. However, in the eyes of the court, any assets or debts that were still acquired while you were separated were joint. I would get together with you ex and go over the Financial Affidavits together and state that you have each already divided the property and who has agreed to assume what debts and assets NOW.

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Posted

In Colorado, assets acquired during marriage are marital except property received as a gift or by inheritance. Property acquired prior to marriage remains separate property unless commingled. However, any increase in value of separate property during the marriage is marital property. Follow the directions on the financial affidavit carefully and you will be instructed as to how to answer each question. Colorado is an equity and does what is fair with respect to the division of marital property. To protect your rights, you really should speak to an attorney right away.

All written responses are for general informational purposes and do not constitute legal advice. Please consult an attorney for legal advice

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Howard M Lewis

Howard M Lewis

Posted

Great counsel

Posted

If you are referring to the process by which you complete a sworn financial statement for submission to the court, the key is to be as accurate and thorough as you can. That amounts to honesty. An attorney can help you understand how to fill those papers out and make sure that things are slotted in teh appropriate category.

Generally, you are going to list everything about both your individual and joint financial lives possible. You can indicate that things are not marital property on the document iteslf -- which usually amounts to nothing more than checking the appropriate box on the document.

The court relies upon the sworn financial statement you submit -- as well as the other party's statement, indetermining how to divide the marital estate and to determine ongoing financial obligations, if applicable. Accuracy is pivotal in making sure you are treated equitably by the court.

Good luck with the process.

In no way am I offering you legal advice, and in no way has my comment created an attorney-client relationship. You are not to rely upon my note above in any way, but insted need to sit down with counsel and share all relevant facts before receiving fully-informed legal advice. If you want to be completely sure of your rights, you must sit down with an experienced criminal defense attorney to be fully aware of your rights.

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