Divorce, division of stuff, and other stuff

[JohnnyDrama]

So I'm in the process of getting my "Single, Third Award" and have a question.... Probably not a good idea here but going to do it anyway. First, I did tell this to a lawyer and he said what I'm about to mention will be mine. Thing is after reading the Sworn Financial Statement (JDF 1111) I'm not sure I believe the guy. Although he seems to have a pretty good record his work with me was less than enlightening. So here goes...

My future ex-wife and I submitted our initial petition yesterday (10/29/18). I have come to find out that there may be a settlement from an inheritance coming my way, possibly before the end of the year and probably before the final decree. As things were explained to me, 1) Colorado is a 50/50 state, 2) Once we filed our petition, we can't transfer property out of the marriage, however, what happened before the marriage is still mine, 3) The SFS is a "living document" and subject to change until the final decree. So, what happens if I do get this settlement before things are finished? Since, as we've filed our petition is it excluded, or is the inheritance considered marital property and is she entitled to part of it?

Like I said, I did talk to a lawyer, I'm just not sure how seriously he took the question. I doubt interwebs advice is any better but I thought I'd give it a try.

[glock74]

Unless you get an inheritance before you turn in SFS I would not put it on there. Your ex might want an updated SFS a few weeks to a month before your divorce is final. Then you will have to put your inheritance on your SFS. Don't buy anything that's worth a lot because your ex wife is entitled to half of what you have until your divorce is final. I'm not an attorney this is just from my experience.

[mb504]

https://cordellcordell.com/resources/colorado/marital-property-in-colorado/


There is certain property that although acquired after the marriage is not considered marital property. First, property acquired by ?gift? or ?bequest, devise, or descent? is not marital property. See C.R.S. 14-10-113(2)(a). Gifts from one spouse to another during the marriage can be deemed either marital or separate property.


https://www.harrisfamilylaw.com/family-law-resources/colorado-divorce-info/colorado-divorce-marital-property-vs-separate-pr/


What is Considered to be Separate Property?
There is certain property that although acquired during the course of the marriage is not considered to be marital property:
1. Property acquired by inheritance or by gift is not considered marital property. (Gifts from one spouse to another during the marriage, however, can be deemed either marital or separate property.)

https://statelaws.findlaw.com/colorado-law/colorado-marital-property-laws.html


Marital property doesn’t include things that are owned individually by each spouse, such as property owned before marriage, gifts, or inheritance to that individual spouse, property excluded by a legal agreement, or property acquired after legal separation.

[JohnnyDrama]

Unless you get an inheritance before you turn in SFS I would not put it on there.

That was my plan. There are other family members who will be highly disturbed if she were to get any of that money.




Something to keep in mind is regardless of rules or laws, you're always at a judges "discretion" and they can arbitrarily decide to do just about anything... or not.



No need to repeat that here. Thanks for the word though.

Thanks for the research MB504. That gives me something to consider.

[Madeinhb]

I always thought inheritance isn't included in divorce because it isn't considered marital property.


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[Sawin]

Can you hold the inheritance in a trust until the divorce is final? Let it be held by a trusted heir other than yourself until the divorce is final? I'm sure the attorney will have an SOP for such cases...

[davsel]

Just went through this 2 years ago. (fourth award)
Wife received large inheritance about a year before we filed.
Inheritance is not split between spouses - Not Marital Property - as stated above.
She kept it all, and I didn't ask for any of it, because I don't believe I should profit from her family member dying.

If your attorney told you differently, seek another attorney.
Don't try to hide anything - you can be brought back in even after it is over.

My takeaway from the last divorce: Refusal of alimony can not be included in a Pre-Nup or a Post-Nup. It is entirely up to the judge at Final Orders. Be forewarned. She raped me on that one.

Good luck to you. It get's better

[Great-Kazoo]

What ever one thinks or is told, even by an attorney. There's always one more, weasaly who will do everything to make sure their client gets at least enough to cover their 20-30%

[spqrzilla]

This is why do-it-yourself divorces can be a bad idea.

[sniper7]

This is why do-it-yourself divorces can be a bad idea.

This is why multiple marriages are a bad idea. I told my wife she is my one shot at marriage.

[spqrzilla]

I have made a lot of money cleaning up after DIY divorces.

[Big E3]

Having been through two divorces, I can verify that Colorado is a 50/50 state. Both of mine ended with 50% to my ex-wife and 50% to the lawyers. Good luck, keep your chin up it’s a long hard discouraging process.

[JohnnyDrama]

I didn't blow you off. I was out of town/off the grid on a project that required camping. It's frickin' cold out there in the mornings... Thanks for the discussion.


I have made a lot of money cleaning up after DIY divorces.

I'm just curious spqrzilla, what goes sideways that is so lucrative. I'd really like to avoid it.