Colorado Springs Property Division Attorneys

Let Our Firm Help You Protect Your Assets & Rights

When navigating the complexities of divorce, few aspects are as emotionally charged or legally intricate as the division of property. At The Harris Law Firm, we understand how overwhelming this process can feel, and our dedicated Colorado Springs property distribution lawyers are here to guide you every step of the way. With years of experience serving the community, we aim to provide you with the clarity, confidence, and legal support you need to secure your fair share.

Contact us today at (719) 417-5779 for a free case evaluation.

Common Assets in a Divorce

Property division involves more than just splitting physical belongings; it encompasses all assets and debts acquired during the marriage. Common assets in a divorce often include:

• Real Estate: The family home, vacation properties, or investment properties.
• Financial Accounts: Joint bank accounts, retirement accounts, pensions, and brokerage accounts.
• Personal Property: Vehicles, furniture, jewelry, and other valuable items.
• Business Interests: Ownership stakes in businesses or partnerships.
• Investments: Stocks, bonds, and other securities.
• Debts: Mortgages, credit card debt, and personal loans.

Each of these assets requires proper valuation and classification to ensure an equitable distribution.

Separate Property vs. Marital Property

In Colorado, understanding the distinction between separate property and marital property is crucial for equitable distribution:

• Separate Property: Includes assets owned by one spouse prior to the marriage, inheritances, or gifts specifically given to one spouse. These are typically not subject to division.
• Marital Property: Refers to assets and debts acquired during the marriage, regardless of which spouse’s name is on the title or account. Marital property is subject to division under Colorado law.

However, some assets may fall into a "gray area." For example, if separate property appreciates in value during the marriage or is commingled with marital funds, a portion of it may be deemed marital property.

Colorado Property Division Laws

Colorado is an equitable distribution state, meaning that property is divided fairly but not necessarily equally. Courts consider a variety of factors when determining how to divide assets and debts, including:

• The length of the marriage
• Each spouse’s contributions to the marriage, including non-monetary contributions such as homemaking
• Each spouse’s economic circumstances at the time of divorce
• The value of each spouse’s separate property
• Any increase or decrease in the value of separate property during the marriage
• Any agreements made between the spouses, such as a prenuptial or postnuptial agreement

It’s important to note that marital misconduct, such as infidelity, is not typically considered in property division under Colorado law. The Harris Law Firm’s Colorado Springs property distribution lawyers will work diligently to ensure all relevant factors are accounted for, protecting your rights and financial future.

Frequently Asked Questions About Property Distribution

Can we decide how to divide our property without going to court? Yes, couples can negotiate their own property division agreements, either on their own or through mediation. However, it’s essential to have a knowledgeable lawyer review the agreement to ensure it is fair and legally binding.

How is debt divided in a Colorado divorce? Marital debt is generally divided in the same manner as marital assets—equitably. This means that both spouses may be responsible for debts incurred during the marriage, regardless of whose name is on the account.

What happens if my spouse is hiding assets? If you suspect your spouse is concealing assets, our attorneys can help uncover the truth through forensic accounting, subpoenas, and other legal tools. Hiding assets is illegal and can result in serious consequences.

Does property division affect child support or alimony? While property division is a separate issue, it can indirectly impact child support and alimony determinations by influencing each spouse’s financial circumstances.

How The Harris Law Firm Can Help

At The Harris Law Firm, we take a client-focused approach to property distribution cases. Our experienced attorneys will:

• Identify and Classify Assets: We’ll work with you to create a comprehensive inventory of your assets and debts, ensuring accurate classification as either separate or marital property.
• Valuate Property: Our team collaborates with trusted financial experts, appraisers, and other professionals to determine the fair market value of your assets.
• Negotiate on Your Behalf: We strive to resolve disputes through negotiation and mediation whenever possible, saving you time and stress.
• Litigate if Necessary: If an amicable resolution cannot be reached, our skilled trial attorneys will aggressively advocate for your interests in court.

Our goal is to help you achieve a fair and equitable property division outcome, so you can move forward with confidence.

Call (719) 417-5779 or contact us online today for a free initial consultation.