Dividing Marital Property in Colorado Divorce
The division of marital assets is usually one of the central issues of divorce cases. When divorcing couples can agree on how to divide up their marital property, the court will typically uphold their agreement.
When, however, the division of marital property causes contention and disputes, mediation or court intervention can be necessary to resolve the issues and move the divorce forward.
At Bonnie S. Shields, P.C., Centennial Divorce Lawyer Bonnie Shields has more than 12 years’ experience protecting people’s interests and assets in divorce. Known for providing aggressive, exceptional representation, Bonnie has the insight, knowledge and dedication you can count on for the best possible outcome to your divorce.
Marital versus Separate Property
In addressing the division of assets in divorce, the first issue that may need to be resolved is defining what comprises the martial assets versus the separate property. In general:
- Separate property will usually include property either individual owned prior to the marriage, assets inherited during the marriage, or assets specifically given to one party during the marriage.
- Marital property will generally include the assets that a couple acquired while they were married.
Distinguishing between martial versus separate property can be particularly tricky when:
- Separate property, such as cash, has been comingled with marital property, such as a joint checking account.
- Separate property, like a home or real estate, has accrued value during the course of the marriage via the investment of the other party.
- Prenuptial or postnuptial agreements have ambiguous or questionably legal terms.
The Division of Marital Property: More Important Information
- Colorado law requires that the division of marital assets is “equitable” – This means that, when the court needs to resolve disputes over the division of marital property, it will do so with regards to what is fair, rather than what would be “equal.” In these cases, the court will consider the economic contributions each party has made to the marriage, along with other factors.
- Marital debt also gets divided in divorce – When couples have accumulated debt during their course of their marriage, the debt, as well as their marital assets, will be divided between them as part of the divorce process. Regardless of how debt is divided in divorce, however, both parties should be aware that they are still legally liable for the debt (i.e., creditors can still pursue them for repayment in the future if an ex defaults on payments).
- Hiding marital assets in divorce is illegal – This is because concealing assets in divorce can be considered to be a form of perjury. When hidden assets may be an issue in divorce, it will be even more important to have an experience lawyer on your side to look into the matter and ensure your interests are not compromised by an ex’s underhanded tactics.
Contact Centennial Divorce Lawyer Bonnie Shields
When you need effective, experienced representation in Colorado divorce, contact Centennial Divorce Lawyer Bonnie Shields. Since 2002, Attorney Bonnie Shields has been providing her clients with compassionate, personalized service and aggressive representation to help them protect their interests during and after divorce.
Find out more about how Attorney Bonnie Shields can help you by calling (303) 798-1927 or by emailing us via the contact form on this page.
From offices based in Centennial, we provide the highest quality legal services to people throughout Arapahoe County, Douglas County, Denver County, Jefferson County and the state of Colorado.