Golden, CO Property Division Lawyer

Golden, CO Property Division Attorney

One of the most time-consuming parts of a divorce in Golden, CO, is the division of property. Although the state’s standard is for an equitable division of property, debts, and assets, protecting your rights often requires the services of a Golden property division lawyer who understands the state’s family code and how to represent the interests of clients.

A Golden family law attorney can be a valuable resource and ally when you are going through a divorce. They can help you with the valuation and equitable division of all types of assets. This can be a complicated and confusing process if you are not familiar with the steps involved. Failing to disclose all your assets and debts could complicate your divorce or lead to penalties.

With an experienced Golden divorce lawyer by your side, you may be able to keep the assets that matter the most to you while giving your spouse what they are allowed under the law. When you run into an impasse with your spouse during your divorce, our lawyers can find solutions that allow you to resolve your case on favorable terms. The Law Center P.C. offers exceptional legal representation, putting our clients first.

How Property Division Works in Colorado

As part of a divorce case, both spouses must come to an agreement on how property and debt are divided. Colorado is not a community property state. Rather, it is an equitable division state that seeks to divide marital assets and debt equitably and fairly.

One early step involves dividing all assets, property, and debt into two groups: marital and separate property. Marital property includes all assets and debts acquired during the marriage. These and other forms of marital property must be divided in an equitable manner. Examples of marital property include:

• Real estate: Homes, rental properties, and vacation properties purchased during the marriage are common forms of marital assets and properties.
• Bank accounts: Joint savings and checking accounts opened during the marriage are often subject to division during a divorce.
• Retirement accounts: Any pension plans, 401(k)s, IRAs, and other retirement savings accumulated during the marriage may be equitably divided during a divorce.
• Vehicles: Cars, trucks, motorcycles, and boats bought during the marriage are often sizable types of marital assets.
• Business interests: Ownership stakes or shares in businesses or partnerships started or operated during the marriage are often subject to division during a divorce.
• Household goods: Furniture, electronics, appliances, and personal belongings bought for the home during the marriage
• Debts: Credit card balances, loans, and other financial obligations incurred during the marriage. Debts acquired after separation are often solely the obligation of the borrower.

Separate property includes assets and debts that were owned before the marriage or acquired by one spouse through inheritance, as well as gifts specifically designated for that spouse. Separate property is not subject to division in the divorce. It is transferable, meaning that anything you purchase using proceeds from the sale of separate property is also separate property.

Your attorney can help you determine which assets and properties are marital or separate property. The burden of proving what is separate property falls on the person who claims the asset as their own. Your attorney may rely on receipts, old photos, and other forms of evidence to show that you own certain items outright and that you are alone.

Who Decides How Property Is Divided?

In Golden, CO,  you and your spouse have the right to divide your assets and property as you see fit if you are willing to reach an agreement together. A judge does not understand your history and interests as well as you do. When you and your spouse can come to an agreement, the courts will generally honor those agreements if they are fair to both parties. Your attorney will work on your behalf to ensure you receive an equitable share.

When you and your spouse cannot agree on how to agree on dividing assets, mediation offers one way forward. A mediator is a neutral third party who has experience in conflict management and conflict resolution. They can work with both sides to build consensus on areas of disagreement. Anything agreed to during mediation is binding and can help the case move closer to resolution.

The option of last resort is to allow a judge to decide how property is divided. The judge can consider many factors when determining what is the most equitable manner for dividing property. Once a judge has decided or has confirmed an agreement, it must be upheld. If one spouse disagrees with the settlement and does not honor the agreement, attorneys will get involved and force the ruling to be followed.

FAQs About Golden, CO Property Division Law

Is Colorado a 50/50 Divorce State?

Colorado is not a strictly 50-50 divorce state. Rather, it is an equitable division state that works to divide marital assets and properties fairly and equitably. The results may be close to an equal division of assets, but each case may vary. Judges may consider the past living standards and earning capacity of each spouse when deciding who should receive what.

How Long Do You Have to Be Married in Colorado to Get Half of Everything?

The length of marriage has little impact on the distribution of assets. All couples must divide assets and properties equitably during a divorce. When they can agree on how that works for them, the courts generally honor those agreements. The length of a marriage doesn’t change the basic principles of equitable distribution, although that may be a factor for matters of spousal support. Spousal support lawyer in Golden advises on alimony matters, helping clients negotiate or litigate fair spousal support agreements based on financial

How Is Property Divided in a Divorce in Colorado?

In Colorado, property is included in the division of assets and debts. All personal and real property is first divided into marital and separate property. The marital property is then divided in an equitable manner. If both spouses cannot come to an agreement over what that looks like, a judge may ultimately make that decision for them. To find out how property you own could be divided, speak with your property division lawyer, who can help you understand your specific circumstances.

How Is the House Split in a Divorce?

Dividing a home in a divorce can be a complicated process. The first step involves appraising the home. In some cases, the home may be sold, and the profits divided between both spouses. In other cases, one spouse may negotiate for ownership of the home. In that case, they need to find other forms of assets to compensate the other party for half the value of the home.

Contact Golden Property Division Lawyer

If you are facing a divorce and dividing your assets in Golden, CO, you need experienced legal representation who understands Colorado’s family code laws. At The Law Center P.C., we represent the interests of our clients in court. Our lawyers can work collaboratively on your behalf with your spouse and their legal team to settle any disagreements quickly and equitably.

If negotiations fail to resolve areas of dispute, our lawyers are skilled litigators who can advocate for your rights and interests in court. To schedule your consultation, contact our office today and find out how our knowledge and experience can work in your favor.