Equitable But Not Always 50-50
If you are going through divorce, you may have concerns about property division. Colorado courts divide property equitably, but this does not always mean a 50-50 division of assets and debts.
At Danielsen Westhoff, PC, our skilled family law attorneys have represented individuals with similar concerns in Broomfield, Jefferson County and across northern Colorado. From a free initial consultation through the divorce process, we will keep your best interests in the forefront.
We are often able to obtain the best possible outcome through negotiation or mediation. When there is evidence of dishonest conduct such as dissipation of assets, hiding property or running up significant debts, we will take the case to court to protect your financial future.
Steps In The Property Division Process
The initial step in allocating property is pretty simple, you need to list all property and debts. Next, we will work with you to determine whether property and debts are marital or separate (this property is not divided). Some examples of separate property include:
- A car or property that you purchased prior to the marriage
- An inheritance or gift to one spouse during the marriage
Property acquired during the marriage is presumed to be marital, so you have to have support to show something was in fact separate.
Any spousal maintenance request is often considered in relation to property division. A larger property award may result in lower maintenance for example.
Questions of valuation may also need to be addressed. As property values continue to increase, an appraisal of a home may be needed to accurately account for division of equity.
When you cannot reach an agreement on property division, a judge will do so for you. The court takes into account a variety of factors when determining what is equitable. You lose control though, so reaching a settlement is often preferable.
Speak With One Of Our Attorneys
If you have questions about the division of property in a divorce or legal separation, contact us. We can explain Colorado law and help you achieve a fair division of such property.