Property division, also referred to as equitable distribution, refers to the judicial distribution or division of property rights and obligations between two parties during a divorce. Property division can be one of the most disputed and contentious issues faced by two parties during a divorce, and the division of property may be particularly challenging and stressful when numerous marital assets are involved, or if one party is particularly resentful about the divorce or actions that have led to it.
According to Colorado law, division of property in divorce cases should be equitable. The issue often at hand however, is whether or not specific assets should be classified as separate property or marital property.
We at Goldman Law, LLC are highly skilled at overseeing property division in Colorado divorce cases. Our thorough knowledge of the law, years of legal experience and sharp litigating and negotiation skills have helped us build a track record of success when it comes to successfully resolving property division cases for our clients. We can help you work out the most favorable property division agreements possible.
Marital Property vs. Separate Property
When it comes to property division, one of the first matters to be resolved is determining which assets are considered marital property and which assets are separate property.
Marital assets are specific assets that are to be divided fairly between spouses. Property that are generally considered marital assets include:
- Assets acquired throughout the course of the marriage
- Assets that are substantially comingled with marital assets—such as when individual bank accounts are merged with marital funds
Property generally considered separate property or non-marital assets, on the other hand, include:
- Assets owned by one party prior to the marriage
- Assets acquired by one party after both parties officially separated
- Assets inherited specifically by one party—regardless of whether the asset was inherited before, during, or after the marriage
It can be much more complex to differentiate marital property from separate property when marital and separate property are comingled or when separate property increases in value during the course of the marriage. It would be most beneficial, therefore, to have an attorney on your side to protect your best interests.
Equitable Division of Property
Although it is possible for some divorcing couples to agree on how to divide or distribute marital assets, property division all too often brings about heated disputes that need to be settled by a family court judge.
In such instances, the judge usually takes into consideration the following factors when determining if the division of property is equitable:
- The value of the marital property
- The economic standing of each party
- Whether there was an increase in value of the separate property during the marriage
- What is considered reasonable in terms of access to a particular property—especially in considerations of a family home when there are children involved
Contact the Denver Divorce Attorneys at Goldman Law, LLC
If you are undergoing a disputed divorce in Colorado, consult with a trusted Denver divorce attorney at Goldman Law, LLC as soon as possible. We are ready to uphold your rights and protect your best interests, and will help you resolve your case in the most efficient and favorable manner possible.