Posts by Jeanne Wilson

“Gross Income”— Getting it Right on the Sworn Financial Statement – Part 2

Gross Income Help on Sworn Financial Statement

(continued from Part 1)…… Calculating “income from salaries” or “wages” from an hourly wage is not difficult.  Salaries are a fixed amount per year, so divide it by 12 for the monthly amount. “Wages” can be determined by taking the pay per hour multiplied by 40 (hours), multiplied by 52(weeks per year), then divided by 12 (months) gives a monthly gross income. It is the rest of the list that can seem overwhelming and it is easy to feel a sense of doom as you list the many ways you receive money each month.  In your mind is the thought that the more you list, the more will be taken away from you to pay spousal maintenance or used against…

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“Gross Income”—Getting it Right on the Sworn Financial Statement – Part 1

Gross Income - Sworn Financial Statement Help

The Sworn Financial Statement is one of the most important documents you will need to complete if going through a divorce or custody case. Also called a “financial affidavit”, it requires each person in the case to use the form approved by the Court and list all income, assets and debts. The Court will use the Sworn Financial Statement to determine how to divide assets and, most importantly, to determine a Party’s need for spousal maintenance or a Party’s ability to pay spousal maintenance. The first page of the Sworn Financial Statement requires a listing of “gross income”—meaning all the money received each month before any taxes or other deductions are taken out. Gross income includes regular wages from employment…

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Spousal Maintenance Considerations

Spousal Maintenance Considerations Colorado Springs

For any couple experiencing a divorce, spousal maintenance is an issue that must be determined.  Formerly called “alimony”, spousal maintenance is a monthly amount paid by one spouse to the other for a certain amount of time. When requested, a Court will either grant spousal maintenance, deny spousal maintenance or reserve jurisdiction over the issue if a likely future event might cause the Court to reconsider spousal maintenance. Colorado law provides specific laws and “guidelines” for a Court to award spousal maintenance. As an initial matter, at the final hearing when the divorce will be declared, a Court must determine the following: The amount of each party’s gross income; (B) The marital property apportioned to each party; (C) The financial…

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What is an Initial Status Conference?

Domestic Relations cases (divorces, custody, etc.) in Colorado all require an Initial Status Conference (“ISC”) be held shortly after the filing of the case. Each judicial district creates their own rules and procedures for the ISC. In the 4th Judicial District, which is El Paso County (Colorado Springs) and Teller County, the ISC must be held within 42 days of filing the Petition. Your attorney (or the opposing Party’s attorney if there is one) will obtain the date and time for the Initial Status Conference and communicate these to you.  It is mandatory that you attend the Initial Status Conference, so plan accordingly. Something rather surprising to discover about the Initial Status Conference is that other than having to be…

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Military Divorce—Some Issues to Consider

The Law Office of Jeanne M. Wilson & Associates, PC. Military Divorce

When a member of the armed services (we’ll call this the “military member”) gets divorced, there are some special considerations for both the military member and their spouse. When children are involved, paying particular attention to how the military lifestyle has affected them and will affect the family relationships is important. Military members can be absent for long periods of time and the demands upon them even when they are home, can be challenging for the family. The emotional and social consequences for the divorcing military member and spouse can complicate recovery from the whole unpleasant process. Knowing what to expect can help both the military member and spouse better manage the process and themselves. Financial Considerations: Spousal Maintenance: If…

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