Denver Colorado Divorce Lawyers
Distribution of Assets
The distribution of assets and property in a divorce can get complicated and messy, even if both parties separate amicably and strive to "play by the rules" and adhere to good ethical principles. We aim to simplify some key issues that impact couples filing for divorce in Colorado and outline strategies for getting what you want and protecting your hard won assets and property.
Equitable Distribution versus Community Property
Different states have different laws on the books regarding how marriage assets should be divided up. In equitable distribution states (41 states in total), the court will rule on what might be considered a fair and equitable breakdown of the assets. In "community property" states (AZ, CA, ID, LA, NM, NV, TX, WA, WI), the "division" starts at a 50:50 split. In other words, it's assumed that the couple will split both assets and debts down the middle, unless other factors are at play.
In equitable distribution states, a variety of factors can influence how the court apportions your properties and assets between you. These factors include the duration of your marriage; the nature and size of your income streams; whether you and/or your spouse owe debts or other obligations (and to whom); whether you have dependents; whether one spouse committed a "wrong" against another (e.g. cheated on him/her, engaged in domestic abuse, etc); and whether you or your spouse will need "retraining" to rejoin the workforce.
Managing Disputes and "Unfair Play"
In desperation to get positive results from a divorce filing, a spouse may attempt unfair or illegal "tricks" to get better results. For instance, spouse may hide income or assets, may concoct false allegations of abuse or mistreatment, or may even rack up extra debt, knowing that the marriage's collective debt will be split between the parties. An experienced family law attorney can help end these unfair and dishonest tactics and can also work with you to develop a blueprint to maximize the assets that you get and adhere to good moral and ethical principles.
Marital property can include a wide slate of assets, including your home, the money in your bank accounts and retirement accounts, real estate, furniture, art work, jewelry acquired during the marriage, and more.
Contacting a Denver Divorce Attorney
When you meet with your divorce lawyer to determine your best strategy, be upfront and comprehensive about what assets and properties you have, what you want out of the divorce proceedings, and what you would accept in terms of a settlement. To get credentialed, battle-proven legal advice, contact the Denver family law attorneys at Kaplan Law, LLC.
