Boulder Property Division Attorney
Property division is one of the most common areas of contention between divorcing spouses. Colorado is a marital property state, which means assets and debts acquired during the marriage will be divided using the theory of “equitable distribution.” Equitable distribution does not mean a 50-50 split but distributes property based on what is fair under your case’s circumstances.
A Boulder property division lawyer understands the complexity of equitable distribution and can advise you of your rights. Contact Dolan + Zimmerman, LLP for a consultation today.
Why Choose Our Boulder Property Division Attorney?
- Our team of attorneys understands that the care of our client’s assets is of the utmost importance, and we prioritize achieving the best outcome in your case.
- Our clients are guaranteed personal access to our attorneys, and we are always a phone call or email away.
- You will receive carefully customized legal representation, with an effective approach to each problem you present to our Boulder divorce lawyers.
What Counts as Marital Property in Colorado?
Marital property is any asset or debt acquired during the course of the marriage. Separate property is owned before the marriage or is acquired by gift or inheritance. Any increase in the value of separate property during the marriage is marital property. Marital property items for consideration include:
- Investments
- Retirement accounts
- Pensions
- Savings accounts
- Real estate
- Tangible assets – vehicles, personal items
- Small businesses
- Shares in businesses and partnerships
- Worker’s compensation and social security benefits
- Debts – credit card, medical, and loans
Marital and separate property can become commingled or mixed together. If couples combine their separate assets, whether intentionally or not, it can become very complicated when deciding what belongs to whom. At that point, you may require the assistance of an attorney, or a judge will have to determine how commingled property will be divided.
How Marital Property Is Divided in Boulder
The court will divide property fairly, which may not mean equality. Under C.R.S. 14-10-113(1), the court will consider the following factors when determining fair division.
- Each spouse’s contribution to the acquisition of the property, including contributions as a homemaker
- Value of property set aside to each spouse
- Economic circumstances of each spouse at the time of the division, including the desirability of awarding the family home to the spouse caring for the parties’ children
- Increases or decreases in the value of the separate property during the marriage or depletion of separate property for marital purposes.
Court proceedings and mediation can become expensive. For many couples, coming to an agreement through their attorneys is the best option. An agreement on the property is typically more achievable for families with straightforward assets and debts. Mediation is another option for couples to utilize a neutral third party to help settle division issues.
If your case involves children, speak to our Boulder child custody and child support attorneys today.
Speak to a Boulder Property Division Lawyer Today
Attempting property division without consulting a Boulder family law attorney can mean missing out on assets to which you are entitled. We strongly encourage you to contact Dolan + Zimmerman, LLP to discuss your case and options with an experienced family law attorney. You can contact us online or call 303-593-1874.