The division of marital property can be one of the most complex issues surrounding a divorce. While some property may be seemingly obvious that it is marital property, there may be other types of property that are not quite as clear. It is for this reason that both spouses have a divorce attorney in Greeley Colorado to assist them when it comes to figuring out what counts as marital property and how to divide it. A divorce attorney in Greeley Colorado is the best person to assist you when figuring out what is marital property and what is not.
In general, all property that is acquired by both spouses is considered marital property and is, therefore, subject to equitable division. This includes more than just the family home or household goods. Other property, such as retirement or investment accounts, for example, would also be subject to equitable distribution.
However, not everything counts as marital property that is subject for division. Property earned before the marriage would not be subject to equitable division. Additionally, gifts or inheritances to one spouse alone would not count as marital property. However, even these aren’t concrete rules. If, for example, a spouse who inherited property behaves as if that property is marital property, may find out during a divorce that it has become property to divide up between the spouses, rather than individual property.
A divorce attorney in Greeley Colorado is essential when it comes to the complex issues that arise when it comes to what is marital property and what is individual property. Sometimes there is no black and white answer to marital property issues, and your attorney is the best one to make sure that you get or keep property in your divorce.