Colorado Sample Letter for Divorce - List of Liabilities and Assets
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How to fill out Sample Letter For Divorce - List Of Liabilities And Assets?
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FAQ
Financial statements (Form 13 or 13.1): A financial statement is a detailed court form that you fill out to list your incomes and expenses. Where possible, you should provide documentation to support the amounts you list. Swearing or affirming the financial statement means that you promise that the information is true.
If you owned your house before entering into the marriage, then the value of the house at the time of the marriage is not considered marital property. However, if the house has appreciated over the course of the marriage, the value of the appreciation is considered marital property.
In Colorado, marital property is divisible between spouses at the time of divorce. Typically, the spouse holding the business interest will be awarded the business, but he or she will have to ?buy out? the other spouse by transferring one-half of the value of the business interest in cash or other assets.
The starting point for the mandatory financial disclosures in Colorado is the Sworn Financial Statement, a multi-page form where each party is required to list his/her income, expenses, assets and debts. This statement is both filed with the court, as well as provided to the other party.
Colorado courts are required to divide marital property equitably, which simply means ?fairly.? The term ?equitable? does not mean ?equal,? it means ?fair.? Because of this, a Colorado court does not need to divide your assets in half?they can actually divide them 60%/40% or in some other manner, depending on the ...
A financial statement is a court form where you set out your financial information. It includes information about your income, expenses, assets , and debts .
The starting point for the mandatory financial disclosures in Colorado is the Sworn Financial Statement, a multi-page form where each party is required to list his/her income, expenses, assets and debts. This statement is both filed with the court, as well as provided to the other party.
Include statements from loans, investments and checking and savings accounts. Look at credit card statements and income tax returns within the past five years. Review brokerage statements from all accounts of securities and/or commodities dealers or mutual funds. Do you have any business financial statements?
