division of house, property, cars, assets

Tensions can often run high between parties when assets and property are at stake. According to Colorado law, the division of assets and property must be equitable – but that doesn’t necessarily mean 50/50.

Attorneys Todd J. Narum and Douglas T. Cohen will help you understand this legal standard and your rights and options.

Divorce Agreements

As with child custody, the Peak Legal team seeks to reduce the pain and acrimony of divorce. Todd and Doug work to cultivate cooperation between parties whenever possible and help them come to agreements that allow both of them to move on with sufficient assets. If you are interested in mediation services, please read more here.

When compromise is not an option, we will fight for your interests in court. We will work with you to create a fair and equitable plan and ensure every asset and piece of property is evaluated and calculated appropriately.

Marital Property

When allocating marital property to each spouse, the court will first determine the marital property as opposed to the separate property. Marital property is all property acquired by either spouse except:

  • Property acquired by gift, bequest, devise, or descent (gift or inheritance)
  • Property acquired in exchange for property acquired prior to the marriage or in exchange for property acquired by gift, bequest, devise, or descent (separate property exchanged for other property)
  • Property acquired by a spouse after a decree of legal separation, or
  • Property excluded by valid agreement of the parties.

If the court determines the property is marital, it is part of the division of assets and debts; if the property is separate, that property cannot be divided or allocated to either party.

Once the property has been categorized, then the court will divide the marital property, based upon the following factors:

  • The contribution of each spouse to the acquisition of the marital property, including the contribution of a spouse as a homemaker;
  • The value of the property set apart to each spouse;
  • The economic circumstances of each spouse at the time the division of property is to become effective, including the desirability of awarding the family home or the right to live therein for reasonable periods to the spouse with whom any children reside the majority of the time; and
  • Any decreases in the value of the separate property of the spouse during the marriage or the depletion of the separate property for marital purposes.

Attorneys Narum and Cohen are always detail-oriented and thorough. The Peak Legal team is very experienced in division of property and assets.

We are here to listen and help you every step of the way through the resolution of your divorce.

Call us now at (720) 445-9779 if you have any questions about division of assets and property in the context of your family law issue.

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