Colorado, like most states, allows divorcing spouses to privately settle and agree on the terms of their divorce, including division of assets, spousal support, child custody and visitation arrangements, among others.
However, a private divorce settlement is not automatically “good to go” just because both parties agree.
Requiring the court’s approval
Even if both parties agree to the terms of their divorce through a private settlement, they must still submit the agreement to the court for approval. This ensures that the terms are reasonable, fair and in accordance with the law.
For one, the court will review whether the division of marital property is fair and equitable to both parties. Whether the division is fair and equitable is based on certain factors surrounding the case.
Another aspect the court will scrutinize more closely is the terms on child custody and visitation, particularly whether they serve the best interests of the child involved.
What happens after the review?
If the court finds that a submitted divorce agreement complies with the law and is reasonable and fair to both parties, then it will likely sign the agreement off, making it enforceable.
However, if the court finds that the settlement does not adhere to legal standards, such as providing adequate support for children or fairly dividing marital property, it may require the parties to renegotiate the terms or may impose its own terms to ensure compliance with the law.
Upholding your rights with guidance
If you are considering a private settlement for your divorce, it is usually advisable to speak with a knowledgeable divorce attorney to ensure that the final settlement terms uphold your rights and interests while complying with the law. This helps you increase the likelihood of the court accepting the agreement in one go.