Colorado Springs Property Division Lawyer
Divorce is a multifaceted process that involves several financial considerations for spouses. Some of these issues will likely influence their lives for years. One of the most contentious divorce cases is property division, dividing a divorcing couple’s marital assets and assigning new property ownership rights over those assets. If you plan to divorce soon, a Colorado Springs property division lawyer at Johnson Law Group can be a critical asset as your divorce case unfolds.
The team at Johnson Law Group has years of experience representing our clients in complex divorce cases. Our team can provide detailed guidance to help you better approach your property division proceedings.
Why Should I Hire a Colorado Springs Property Division Attorney?
While it is technically possible to navigate a divorce case without legal representation, doing so inherently puts you at a disadvantage. This is especially true if your spouse hires a divorce lawyer of their own. While you and your spouse may be on relatively civil terms, divorce can easily escalate into an emotional court battle, and having objective and experienced legal counsel on your side can help you remain focused on the practical matters your divorce entails.
Property division requires an extensive financial disclosure process, a detailed review of all the married couple’s assets and property, and careful examination of the couple’s shared and separate debts. Your Colorado Springs property division attorney can assist with these aspects of your divorce case and provide ongoing support as the case unfolds.
Call (720) 744-3513 to schedule a free consultation with a Colorado Springs property division attorney today.
Divorce doesn't have to be dramatic. For the litigants, losing your spouse is significant enough. But you can choose the way it affects your daily life. The only guarantee I can give is that the feeling that you have right now will not be the feeling you end with. This is a season in your life, and it must be approached that way.
This acclaimed book positions Johnson Law Group as a thought leader in Colorado family law, providing clients with the same proven strategies that have guided hundreds of families through successful outcomes.
Get Help From a Colorado Springs Property Division Attorney
The Johnson Law Group offers comprehensive legal representation for all types of divorce cases in Colorado Springs. We understand that no two cases are alike, and your divorce will likely involve many difficult decisions and complex proceedings.
Our goal is to provide the professional legal services you need to approach property division with understanding and confidence.
Call (720) 744-3513 or contact us online to schedule a free consultation with a Colorado Springs property division attorney.
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Individualized AttentionJust as each family is unique, so is each family legal matter. We always take the time to completely understand your situation so that we can tailor our advice and strategy accordingly.
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Highly RecommendedOur clients often take the time to write and thank us, not only for the results we have earned for them but also for the respect we’ve shown them.
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Supportive CounselWe never lose sight of the fact that divorce and other household conflicts can feel overwhelming. Our family lawyers will answer all of your questions to ease your burden in this difficult time.
Our Attorneys Meet Your Legal Team
At Johnson Law Group, our team of skilled and understanding legal professionals proudly provides comprehensive and efficient legal services for all clients.
How Is Property Division Handled in a Colorado Springs Divorce Case?
Colorado upholds an equitable distribution law in divorce. This means that a divorcing couple’s property must be divided in the most equitable, but not necessarily equal, manner. Colorado is also a dual-property state, meaning the state recognizes marital property and separate property in divorce.
When a couple ends their marriage, each spouse retains ownership over their separate property, and the couple divides marital property in a way that is fair to both parties. The reason for the divorce rarely influences property division determinations unless the couple has a prenuptial contract in place with specific terms and conditions.
Most couples divorcing in Colorado opt for alternative dispute resolution instead of litigation. Divorce mediation can serve as private settlement negotiation, allowing spouses to complete their divorce in a fraction of the time litigation would require.
Regardless of how property division is handled, the process begins with a financial disclosure. Each spouse must provide a sworn statement listing all their assets and property. An attorney can help ensure this process is completed accurately and identify discrepancies that could influence proceedings.
Understanding Types of Marital Property
"Marital property" encompasses most assets and debts acquired during the marriage, regardless of which spouse earned or incurred them.
Common examples include:
- Real estate: family home, vacation properties, investments
- Vehicles: cars, trucks, motorcycles, boats
- Retirement accounts: 401(k)s, IRAs, pensions
- Financial accounts: bank accounts, brokerage accounts, stocks, bonds
- Personal property: furniture, jewelry, artwork, collectibles
- Business interests: privately owned or shared businesses
Accurate identification and valuation of these assets are essential for a fair settlement. At Johnson Law Group, we know how to meticulously analyze all aspects of your financial situation so that nothing is overlooked.
Handling Debts When Dividing Property in Colorado Springs
The division of marital property also includes debts. Just as assets acquired during marriage are typically considered marital property, so are debts incurred during this time.
Debts may include mortgages, credit card balances, personal loans, and medical bills. These are allocated equitably, though not necessarily equally. Often, debts are assigned alongside related assets (e.g., the spouse who keeps the family home may also take responsibility for the mortgage).
Understanding how debts are handled is just as crucial as understanding asset division, as it directly impacts your financial future after a divorce.
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From the initial phone call I spoke to Myles Johnson, he gave great direction on how to proceed. Then acquiring the firm as my legal representation I worked with Said and he helped me step by step to get what I was looking for. I have already recommended two different individuals I know to Johnson Law Group and will be using them for all future situations. From the legal team to Cory at the front desk, everyone at the firm is top-notch.- Brady M.
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I appreciate all the help my attorney and paralegal has done for me in the best interest of my daughters future. They’re all most knowledgeable, caring law group! I couldn’t have done it without their genuine support on representing my case(s). I’m grateful for all they have done for my daughter and I.- Bonnita
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Myles is very professional and well informed in his field. Cassidy their paralegal was also extremely helpful and client driven . 5 stars!- Stevie
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Very professional, and caring. Everything was handled well, they listened to all my concerns, and responded in a timely manner. I would highly recommend using Johnson Law Group, they are amazing!- Sonja
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He was responsive, efficient, and coordinated well with my wife’s attorney. Very happy with the final result.- Nick
frequently asked questions Property Division in Colorado Springs
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Can Separate Property Be Divided in a Divorce?Generally, separate property is not subject to division in a divorce. This typically includes assets owned before the marriage, gifts, inheritances, and anything gifted by one spouse to the other. However, separate property may be divided if it has been "transmuted," meaning the other spouse's efforts or contributions significantly increased its value.
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How Can I Avoid Property Division Litigation?Property division litigation can be lengthy, stressful, and expensive. A better approach is often alternative dispute resolution, such as mediation. Mediation can be faster and more likely to result in a mutually agreeable settlement than going to court.
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What Are the Five Stages of Property Division?Property division involves five key steps: identification, classification, valuation, dispute resolution, and asset division. A thorough financial disclosure is crucial for a fair outcome. All property must be identified and classified as either marital or separate. Then, it is appraised to determine its value. Next, couples can negotiate a settlement, often through mediation, which allows for more personalized agreements. If negotiation fails, a judge will resolve any disputes. Finally, the property is divided according to the agreement or the judge's decision.
Frequently Asked Questions about Property Division in Colorado Springs
What are the five stages of property division?
Property division involves five key steps: identification, classification, valuation, dispute resolution, and asset division. A thorough financial disclosure is crucial for a fair outcome. All property must be identified and classified as either marital or separate. Then, it is appraised to determine its value. Next, couples can negotiate a settlement, often through mediation, which allows for more personalized agreements. If negotiation fails, a judge will resolve any disputes. Finally, the property is divided according to the agreement or the judge's decision.
Can separate property be divided in a divorce?
Generally, separate property is not subject to division in a divorce. This typically includes assets owned before the marriage, gifts, inheritances, and anything gifted by one spouse to the other. However, separate property may be divided if it has been "transmuted," meaning the other spouse's efforts or contributions significantly increased its value.
How can I avoid property division litigation?
Property division litigation can be lengthy, stressful, and expensive. A better approach is often alternative dispute resolution, such as mediation. Mediation can be faster and more likely to result in a mutually agreeable settlement than going to court.
