Commerce City Property Division Lawyer
Commerce City Property Division Attorney
Although choosing to divorce your spouse is a major decision, it is only the first of many decisions that will go into separating your life from theirs. One of the most impactful decisions to make is how your property will be split as you move on to your single life. If you leave your marriage with less property and assets than you are entitled to, you are likely to struggle more after you are no longer married. Your cost of living will increase since you no longer split bills with your spouse, so it is important to set yourself up for success.
Working with a skilled divorce attorney can help ensure that your property and debts are split fairly and equitably. Divorce can be mentally draining, so it pays to have an informed family law attorney in your corner. Johnson Law Group, LLC, is deeply familiar with how property is evaluated and distributed in Colorado, so we can help you create a plan for how to divide marital property with your spouse. With years of experience handling divorce cases, our compassionate attorneys can explain your rights and options so you can make the most informed choices moving forward.
Dividing Property in Colorado
As you approach the process of separating property, the first step is determining whether the property is considered marital or separate.
- Marital Property labeled as marital includes everything that was acquired during the marriage by either spouse, unless it falls under one of the separate property clauses. It is important to note that property that is titled under only one spouse is not automatically designated as separate if it was acquired or contributed to during the marriage. Examples of property that may be titled under one name include bank accounts, retirement accounts, or vehicles. If separate property appreciates in value during the marriage, the appreciation value is generally designated as marital property.
- Separate Property that is determined to be separate from the asset division was generally acquired by the spouse prior to the marriage. It can also be property that was acquired by inheritance, received as a gift, or specifically excluded from asset division by a prenuptial agreement. Any property acquired after the decree of legal separation is excluded from property division as well.
Once the property has been correctly classified, the marital property will then be divided between the spouses. Separate property is exempt from the asset and debt split, so correctly designating your property is vital for an equitable division. A property division attorney can provide insight into how your property is likely to be classified, allowing you to create a list of marital assets that are important to you and assets that you would be willing to part with.
frequently asked questions Property division
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How Is Property Divided in Colorado During a Divorce?There are two general rules for property division in U.S. states: community property and equitable division. In community property states, the property division should be close to 50/50, regardless of the circumstances of the marriage or divorce. In equitable division states, the focus lies on creating an equitable division that considers aspects of the marriage and divorce, instead of a blanket 50/50 split. Colorado is an equitable division state.
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What If You Suspect That Your Spouse Has Concealed Assets?Colorado law clearly prohibits divorcing spouses from concealing, hiding, encumbering, or depleting marital assets while the case progresses through court. Normal actions like purchasing necessities or conducting business are permitted, but actions like placing an extra mortgage on your home or removing money from your 401(k) are prohibited. Both parties are required to disclose their full financial position to the other party. An attorney can investigate your spouse’s financials and determine if they are concealing any marital assets.
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Will My Name Remain on the Mortgage If My Spouse Is Awarded the Marital Home?The courts generally disfavor agreements that leave joint ownership of assets or debt. If one party is awarded an asset that currently has both parties named on the title or debt, the parties will agree to, or the court will order the awarded party to, remove the non-awarded party. This removal must happen within a set window following the divorce.
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What Are Factors the Court Will Consider When Creating an Equitable Distribution?
If the couple cannot create a property division agreement, the court will settle the unresolved issues. The judge will consider factors such as:
- The length of the marriage
- Each spouse’s contribution to the marriage
- Child custody
- The valuation of each spouse’s separate property
- The current economic situation of each spouse
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At Johnson Law Group, our team of skilled and understanding legal professionals proudly provides comprehensive and efficient legal services for all clients.
Options for Separating Property
Colorado follows the equitable distribution principle, meaning that the marital property is divided based on fairness instead of an exact 50/50 split. Although the division is generally even between the spouses, the focus remains on creating a fair agreement based on the specific circumstances of the divorcing couple. There are two routes for property division: the couples create their own agreement for dividing property, or a judge will step in to divide property if the couple is unable to.
Colorado courts afford divorcing couples the opportunity to create their own agreement. For lower-value items, the court highly recommends that the couple divide them on their own to reduce the time investment required of a judge to create the agreement. All property should be separated, as courts do not generally approve joint ownership of assets following a divorce. The couple can work together in mediation or arbitration to resolve any disputes about how the assets and debt should be divided.
If the couple cannot reach an equitable agreement, the court will examine the evidence of the case and then administer a ruling on how the disputed property will be divided. The couple will not have any control over the judge’s order, making it a less favorable option for some parties. Their decision may not be a 50/50 division, as their intent is to create an equitable split, not necessarily a mathematically equal split.
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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.
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I wasn’t familiar with the process of child custody but I must say not only did Myles and his team direct me properly but it was a process that wasn’t money motivated. Very professional group, I was constantly informed of any step or move needed to be made, and they took a very stressful situation and made it a very pleasant storm. Thank you Myles and Johnson group for everything!”- Dwight
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I have a high profile case involving a custody matter, that stretched across multiple States, which included Colorado. At one point I had 4 Law firms attending to the matter in 4 different States, Johnson Law Group stood out as the best Law Firm, exemplifying integrity, fairness and strategies for the case. I highly recommend Johnson Law Group.- Jorel S.
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They were very professional and showed heart warming empathy towards me. The entire group treated my like an actual person and not just another client. My questions were always answered in a timely manner and the process was so easy. I would absolutely recommend the Johnson Law Group to anyone reading this and I will be telling anyone I know, that may also need their services. They will treat you right and be in your corner.- Kimberly D.
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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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I was in a very difficult custody/child support dispute with my ex-spouse. The Johnson law Group and in particular Elizabeth Gregory was phenomenal with their representation of my case. Working with her was such a wonderful experience, kept our goals at the top of every conversation, knew all points and avenues that we could take, never lead us in the wrong direction. I would recommend this firm to anyone who is going through a family law issue.- Liz
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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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This review nor a amount a amount of characters can express how grateful I am for Johnson law. From the moment I called they gave me a peace of mind that they where going to be able to help me through my child custody situation. I worked with Yasaman and she was super professional and caring. From the moment she started working on my case and laid down the road map to our approach to my case it happened to a tee. She never misled me or over promises anything but over delivered every step of the way! The last 6 months would of been hell if it wasn’t for Johnson Law and Yasaman.- Jaime S.
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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.
Contact Johnson Law Group, LLC, Today
An experienced Commerce City family law attorney can make all the difference during your divorce. Johnson Law Group, LLC, is ready to protect your rights as you navigate this difficult process.
Reach out to our office today to speak with our compassionate family law team.
