Most couples getting divorced know about the major types of marital property, the family home, household goods and joint bank accounts, for example. What many may not realize is that the division of assets in Greeley Colorado also applies to retirement accounts, such as a 401K or pension, as well. This can make division of assets in Greeley Colorado more complicated as the court would have to figure out the value of retirement accounts and the amount those accounts changed over the course of the marriage. Even if one spouse did not contribute individually to the other spouse's retirement account,... Read More
Category Archives: Division of Property
Personal Bank Accounts and Division of Assets Greeley, CO
Most people, when they admit to the end of their marriage and begin working to split, approach the work with a heavy heart and a sincere desire to simply have a fair and equitable ending. While some couples certainly do approach divorce as a final battle in a war long ago lost, many couples simply try their best to disengage gracefully, provide for their children, and have some kind of relationship post-divorce. However, many people make simple incorrect assumptions that can negatively impact their attitude and their role in the divorce process. For example, many people believe that if they... Read More
Divorce and the Division of Assets
It is not overstating the situation to say that divorce is a difficult and chaotic period in anyone’s life. After years of working to combine two lives, two incomes, two sets of assets, suddenly you begin working to separate them. Years and years of mutually-owned objects and assets must suddenly be assessed, valued, and divided. If at the same time you are engaged in a divorce proceeding your financial situation is so dire that you are contemplating bankruptcy in order to vacate your debts and find some stability, you should contact one of our attorneys immediately to discuss your options.... Read More
What Does “Equitable” Mean in Division of Assets in Greeley, CO
Divorce means many things: The end of a relationship, the beginning of a new life, the transformation of many relationships. It also usually requires the division of property and wealth, as very few divorces involve zero property or other assets. Dividing these assets can be a complicated business, especially for long-term marriages where a lot of property or other assets have been accumulated in the peculiarly messy way marriages have. In the state of Colorado, the key word in the law is the term “equitable.” Colorado is not a community property state, so the division of assets Greeley, CO sees... Read More
The Dark Side of Division of Assets in Greeley, Co
In most divorces, no matter how emotional or dismaying the event is, the spouses retain enough respect for each other to attempt to conclude the business of separating their lives without unnecessary drama or cruelty. Sometimes, however, individuals in a divorce who have high-value assets may seek to hide these assets from their soon-to-be former spouses. This is both illegal and unethical, no matter what their private opinion might be about how the wealth was acquired and the other spouse’s contributions to that process. In the division of assets Greeley, CO attorneys oversee there are usually a few common places... Read More