Property Division

Colorado Marital Property Division

Even if a divorcing couple has no children, they will very likely have marital property. Marital property is property that a couple has acquired during their marriage, except for most gifts, inheritances. Assets acquired before the marriage and kept as one spouse's separate property is usually considered non-marital property in Colorado.

Identifying, divvying up, and transferring a couple's assets and debts can be confusing, especially if the marital estate is large. Without the help of an experienced divorce attorney, it's easy to leave things out. At the Marrison Law Firm in Colorado Springs, we can help you account for and determine an equitable way to divide your property. Contact us today for an initial consultation.

What Property Is Subject to Division in a Divorce?

Unless there is a valid prenuptial agreement which governs the division of a couple's property in a divorce, all marital property will be distributed to one spouse or the other. Usually a couple's largest asset is their home. Not surprisingly, some of the biggest battles are over which spouse gets to keep the house. Marital property can also include cars, boats, military pensions, 401(k) and retirement plans, stocks, bonds, stock options, bank accounts, and business interests, plus any equity and interest built up over the duration of the marriage.

Factors to Consider When Distributing Marital Property Under Colorado Law

Colorado is not a community property state. The property division does not have to be split 50/50. It just has to be "equitable" or fair. In many cases, a 50/50 property split is the fairest settlement, but your case may be different. Factors that the court considers include:

• Contribution of each spouse to the property, specifically as homemaker
• Value of property set aside for each spouse
• Circumstances of spouse with regard to property, especially with regard to the home. The court will not make a spouse move immediately if he or she lacks the means.
• Increase and decrease of value of each separate part of the estate
• Business ownership, our firm will help you with business valuation and how it will affect your overall plan

In addition to our own knowledge and skill, there are a number of professionals we can employ to help you. We use accountants, personal property appraisers, and financial strategists to determine the value of property. We also have an eye for detail that enables us to thoroughly account for everything that you and your spouse own together. When it comes to property division, the decree can stand on its own, and the chances are that you won't have to return to court for a post-decree modification.

Contact the Marrison Law Firm to talk to a lawyer about property division in divorce.