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Property Division Attorney In Denver
In Colorado, marital property is presumed to be all property acquired by either party during the marriage. This includes the appreciation of separate property that was acquired prior to the parties’ marriage, and it also includes debts incurred during the marriage. Bonuses, real property, business interests, trusts and retirement assets may all be subject to division as part of the marital estate.
Divorce proceedings Involve Complex Issues That Should Be Reviewed By An Attorney
There are exceptions to the presumption that all property acquired by either spouse subsequent to the marriage is marital property. Those exceptions include property acquired by gift, bequest, devise or descent; property acquired in exchange for property acquired prior to the marriage or in exchange for property acquired by gift, bequest, devise or descent; property acquired by a spouse after a decree of legal separation; and property excluded by a valid agreement of the parties. The burden of establishing separate property is on the person claiming a separate property interest.
Our Denver Divorce Lawyer Will Help Divide The Property Equitably
Once the court has classified property as either separate or marital, the court is tasked with dividing the marital property and debts between the parties. Under Colorado law, the property shall be divided equitably “without regard to marital misconduct.” Colorado is a no-fault state, and a person’s bad acts during the marriage will not normally be a consideration of the court in determining how the estate should be divided.
However, equitable does not necessarily mean equal, and the court will consider many factors, including the existence of separate property, the contribution of each spouse to the acquisition of marital property, any increases or decreases in separate property during the marriage and the depletion of separate property for marital purposes.
A Denver Divorce Attorney Can Be Invaluable To You When Dividing Up Assets
It is important to note that Colorado is not a community property state, and there is no clear-cut rule for dividing marital property. Although many Colorado cases result in an equal property division, they are always analyzed on a case-by-case basis. Call 303-951-4506 or contact us online for help with your specific situation.