Stout & Casey
A Few Things You May Not Know About Colorado's Divorce Process When It Comes to Property Division
In some states, property accumulated during a marriage is not necessarily equally divided if a couple chooses to get divorced. In the state of Colorado, courts are generally pretty fair and, most of the time, divide marital property equally. With that said, equal division of property following a divorce is also dependent on the fact that the two parties involved agree to the property division terms. If the parties involved don't agree, things can get a little more complicated.
Here are some things to keep in mind regarding property division in the state of Colorado:
- In the process of dividing the marital property, the court assigns a monetary value to each piece of property.
- Colorado is an equitable distribution state when it comes to property division in a divorce. That means that unless the parties involved object to it, the property will be divided fairly in the eyes of the court.
- Colorado court's take several factors into account when it comes to the "fair" distribution of property following a divorce. Some of those are: what each spouse contributed in terms of marital property, the value of the property contributed, and any change in the value of the property during the marriage.
While divorce is never easy, Colorado tries to make the process a little less troublesome by making sure that the courts divide marital property as fairly as possible. Consulting an attorney in this process can be very useful and beneficial to make sure that you understand your rights when it comes to property division in a divorce.