One of the biggest challenges of the divorce process is dividing the assets, property and debts of the former couple. In Colorado, where divorce is known as “dissolution of marriage,” this division is equitable, meaning a court will attempt to divide the marital property so that the results are fair to both parties. At the firm of Stevens, Littman, Biddison, Tharp & Weinberg, LLC, we help divorce clients achieve the optimal results in their divorce case. We have experience representing clients in even the most complicated and high-profile divorces where the valuation and division of business assets are at issue.
Understanding marital property under Colorado law
Equitable division starts with the presumption that the property will be divided fairly. That presumption, however, brings up a host of issues. First, it must be determined what is being split. Only “marital property” counts. Each party gets to keep their own “separate property.” Separate property is usually property acquired by either party before the marriage. Property that is inherited or received as a gift is also considered separate property. A valid agreement such as a prenuptial agreement can also designate property as separate. Our Colorado divorce attorneys work closely with you to help you prove that a piece of property is separate or marital if one results in a better outcome for you.
Determining the value of property during your divorce
Once it has been determined which assets are marital property, a court must know how much each asset is worth. While most homes, cars and jewelry can be appraised easily, many divorces involve the valuation of more complicated assets, including:
- Stock options
- Retirement accounts
- Insurance plans
- Real estate investments
- Intellectual property
Our attorneys work with financial experts and actuaries to determine the value of these assets. Additionally, we work to help you determine the value of any businesses, professional practices or debts that are considered marital property under Colorado law.
Ensuring equitable division is also fair
Once we have shown a court which property is marital property and demonstrated the value of that property, we work to help the court divide that property fairly. Equitable division requires the court to consider a variety of factors, including:
- The economic situation of each spouse
- The division of custody in marriages with children
- The contributions each spouse made to increase marital property
- Contributions to the family as a homemaker
- The value of separate property
While the court will consider many factors, it will not consider either party’s fault in causing the marriage to fail. Our attorneys fight to ensure that you receive your fair share of the marital property.
Contact us – we have the experience to help you through your divorce
At Stevens, Littman, Biddison, Tharp & Weinberg, L.L.C., our attorneys have the experience to discreetly and resolutely handle the property division associated with your divorce case. We work to help you keep the property that is yours after your marriage ends. To schedule a consultation with a Boulder divorce attorney, call us at 303.443.6690 or contact us online.