The laws regarding division of property during divorce vary from one state to another, but Colorado law specifies that division of property be done equitably. It’s important to understand that there is a difference between equitable division of property and equal division of property. Equal means that assets are divided directly down the middle, but this is not necessarily how a judge will view your case in Colorado.
Under the terms of equitable division of property, judges instruct to divide up assets based on what is fair. While some couples are able to agree on their own about property division, it’s much more likely that you will need to hire a Greeley family law attorney to help advocate for you in court.
Divorce judges use several different factors to determine fair property division, including each spouse’s economic circumstances, how well awarding the right to live in the family home or the awarding of the family home as property will influence the parent with physical custody the majority of the time, increases or decreases in a spouses separate property value during the course of the marriage, the extent to which a spouse’s separate property has been depleted for marital purposes, and the value of property that is given to each spouse.
It’s recommended that you consult with your Greeley family law attorney before heading into court for division of property. While you may have sentimental ties to the family home, you may need to have alternative arrangements if the other parent is awarded primary physical custody. Come prepared with all documents and evidence related to marital property when engaged in a Colorado divorce. Being prepared helps the process go along more smoothly and quickly. Preparation and organization are essential for divorce property division preparation.