Many times, when we first meet with a client on a Wheat Ridge or Arvada divorce, they have a lot of questions related to property division. When tensions are high, statements like “I’ll take you to the cleaners” or “I’ll get everything in the divorce” may be thrown around. No matter what the circumstances are surrounding your divorce, be assured that one party will not get everything through the dissolution of marriage process.
Colorado: Equitable Division State for Divorce
In Golden, Mountainview and across Colorado, property is divided in a fair and equitable manner through a divorce. This does not mean that everything is split in half 50/50. Instead, the court will take various things into consideration, like the length of the marriage, the value of the marital and non-marital property for each spouse, how much each spouse contributed to the martial property, and the age of the spouses. These are the types of things a judge will factor in when determining the martial asset division, if this is a contested area of the divorce. However, if your attorney and your spouse’s attorney can work to bring both parties to an agreement, then the judge will likely sign off on your asset division decision.
What is Considered Marital Property in Arvada and Mountainview?
Marital property is anything that was acquired during the marriage. So, if you owned your house before the marriage and then your spouse moved in, the house would not be considered marital property and therefore, would not be up for consideration for property division. A house, vehicle, or other property that was purchased during your marriage is eligible for division. An inheritance or gift specifically given to one spouse is likely not marital property. For more specific information about what specifically is considered martial property and how you can protect yourself and your assets, contact an experienced family law attorney.
If you are getting divorced and want to make sure your finances are protected through the marital property division, call the divorce attorneys from the Pearman Law Firm at 303-991-7600 for a initial phone consultation.
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