A critical part of your divorce will involve the division of marital property. When you or your spouse decides to file for divorce, you may find yourself concerned about your family’s financial security. In Colorado, both spouses are entitled to an equitable (fair) division of marital property. Likewise, you may both be responsible for marital debt. Even though the goal of the court is a fair outcome, this can be a daunting process for many people. At GEM Family Law, we are committed to helping you achieve an outcome that enables you to begin the next chapter of your life with confidence and security.
DIVISION OF MARITAL DEBT
The division of marital debt can be one of the most difficult aspects of a divorce for parties. Your credit may be entangled with your spouse’s, or you may believe that your spouse incurred debt purchasing things that did not benefit your family and only benefited them. At GEM Family Law, we are experienced in dealing with the complexities surrounding the division of marital debt. Our creative and seasoned attorneys will work with you to find positions and solutions that will protect you, your credit and your assets after divorce.
SEPARATE PROPERTY CLAIMS
In Colorado, if you brought an asset into the marriage, no matter how large or small, you may have a claim for separate property. If you have a successful claim of separate property, this asset cannot be divided by the court, unless you waive that claim. At GEM Family Law, we understand the importance of keeping your separate assets whole and will work diligently with you to protect your separate property.
HIGH ASSET DIVORCES AND COMPLEX PROPERTY DIVISION
In many cases, particularly long term marriages, there is a comingling of the issues of separate property, marital property, the division of marital debt and liabilities, and maintenance. Even in cases where one spouse has been the breadwinner, the contributions to the family of both parties to the marriage must be considered. This can lead to complex concerns with respect to the division of property. Whether you came into the divorce with the majority of the assets and are concerned that you will be treated unfairly, or you have worked hard, so that your spouse could secure and maintain a high paying job, our legal team is here to help.
Property and assets that may be subject to division after divorce include:
- Bank Accounts
- Traditional Retirement accounts
- Defined Benefit Plans
- Life Insurance Policies
- Investment Accounts
- Businesses or Business Interests
- Real Property (real estate)
- Personal Property (furniture, jewelry, antiques, valuable collections)
- Airline Miles