November 30, 2023

Understanding the Financial Maze: How State Laws Can Influence Divorce Outcomes and Colorado's Unique Stance with Brian Walters | Episode 179

35 minutes

Divorce is like navigating a labyrinth of emotions, legalities, and, most pertinently, financial consequences. The path you tread and the outcome you face can vary dramatically depending on the state laws that govern your divorce proceedings.

State-specific divorce laws are not just legal formalities etched in statute books. They have real, palpable impacts on the lives of divorcing couples, influencing bargaining power and shaping economic behaviors. The financial implications of divorce is significant, with the average cost per person being $15,000, potentially rocketing to $100,000 for more complex situations.

Two critical aspects where state laws make a difference are property division and alimony/maintenance. In some states, courts divide a couple's property according to community distribution laws, while equitable distribution laws apply in others. The distinction may seem inconsequential initially, but it can result in vastly different outcomes, affecting everything from alimony awards to asset divisions.

That's why we're excited to bring back Brian Walters, family law expert and managing partner of Walters Gilbreath in Texas. Brian and Ryan Kalamaya dissect how a hypothetical divorce client, Eric Wolf, might be financially impacted in Texas versus Colorado. They shed light on the concept of community property in Texas, distinguish it from Colorado's treatment of separate property, and tackle the intricacies of determining separate property when assets are intertwined.

Taking the discussion further, they delve deep into spousal support laws in Texas, sharing insights about how these laws impact divorce proceedings. We also compare and contrast the views of marital misconduct in both states, and how Texas still factors this into financial division. Drawing on a real-life high-asset divorce case that reached the US Supreme Court due to conflicting jurisdiction, we provide practical insights to illuminate the intricacies of divorce laws in these states.

Navigating the intricacies of divorce laws can feel like climbing a mountain without a map. But understanding these laws, notably how they differ from state to state, can equip you with the knowledge to make informed decisions during this challenging journey. Remember, every state has its unique terrain in the landscape of divorce law - and Colorado is no exception.

What is Divorce at Altitude?

Ryan Kalamaya and Amy Goscha provide tips and recommendations on issues related to divorce, separation, and co-parenting in Colorado. Ryan and Amy are the founding partners of an innovative and ambitious law firm, Kalamaya | Goscha, that pushes the boundaries to discover new frontiers in family law, personal injuries, and criminal defense in Colorado.

To subscribe to Divorce at Altitude, click here and select your favorite podcast player. To subscribe to Kalamaya | Goscha's YouTube channel where many of the episodes will be posted as videos, click here. If you have additional questions or would like to speak to one of our attorneys, give us a call at 970-429-5784 or email us at [email protected].

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DISCLAIMER: THE COMMENTARY AND OPINIONS ON THIS PODCAST IS FOR ENTERTAINMENT AND INFORMATIONAL PURPOSES AND NOT FOR THE PURPOSE OF PROVIDING LEGAL ADVICE. CONTACT AN ATTORNEY IN YOUR STATE OR AREA TO OBTAIN LEGAL ADVICE ON ANY OF THESE ISSUES.

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