In a Colorado divorce, the focus will understandably be on children, their support and custodial issues. Spousal maintenance will also come to the forefront. There are many avenues of dispute in any case involving family law and divorce. Property division might get lost in the shuffle, but that does not diminish the importance of understanding the law and how it is determined what will be divided as marital property and what will be separate property. Having legal assistance is critical with these circumstances.
When determining how marital property will be divided, the court will consider how much each party contributed to its acquisition. That will factor in the contribution of a person who was functioning as a homemaker. The property will have value and this will be set apart to each party. When the division of property goes into effect, the circumstances of the spouses will be considered. That will include how desirable it is for one or the other to maintain the family home and to live there for a reasonable amount of time with children. If there were increases or reductions with the value of separate property that a spouse brought into the marriage, this will be assessed.
Certain items will not be considered marital property, will be separate and not subject to division. If there was property that was given to one of the spouses as a gift, by descent or for other reasons, it will be separate property. Those who acquired property in exchange for items that had been acquired prior to the marriage or by trading that which had been gifted or inherited will have that property remain separate. If there was property acquired after a legal separation, it is separate. And if there was a valid agreement regarding the property, it will stay separate.
Although there are laws in place to regulate how property is handled in a divorce, there are still inevitable disagreements that will arise. For people who are in the middle of a divorce, having legal advice to deal with their property division is a must. Calling a law firm that handles cases of family law and divorce is imperative to a case and to achieve an acceptable resolution either through negotiation or by going to court.
