Golden, CO, Property Division Lawyer
The Drake Law Firm, P.C., helps clients receive an equitable share of marital property.
Property Division in Golden, CO
After child custody, property division is one of the most contentious aspects of a divorce. State law requires that both sides receive an equitable share of the marital property. However, there are often disagreements about what is considered to be marital property and when the property was acquired. Also, one side might try to hide assets, which complicates matters even further.
Our Golden, CO, property division lawyer can assist you during this process. From ensuring that everything is listed in the financial disclosures to investigating the dates the property was acquired, we will be with you every step of the way. Contact us today to discuss your property division case.
What Is Marital Property?
You have likely acquired lots of assets and debts during your marriage. This is referred to as marital property and includes:
- The family home
- Bank accounts
- Mutual funds
- Pension and retirement accounts
- Increased value of the separate property that was acquired before the marriage
What Is Equitable Distribution?
Colorado follows the law of equitable distribution in divorce cases. Equitable is not the same as equal. Instead, the judge reviews numerous factors and then divides the property based on what he or she believes to be fair. The factors include each spouse’s contributions and financial standing. Also, the court considers any increases or decreases in the value of the personal property that was obtained before the marriage. The overall value of the property is yet another consideration.
In many cases, the judge actually does split the property evenly. However, he or she is free to award more property or debt to one spouse. If you take your case to court, it’s important to have a Golden, CO, property division lawyer by your side. Your attorney can show evidence to support your right to marital property.
Why Choose The Drake Law Firm, P.c.?
- Schedule A Consultation – Discuss your case with us during your consultation.
- Highly Reviewed and Recognized – The Drake Law Firm, P.C. has numerous five-star reviews on Google, Facebook, Martindale, Birdeye, and other review sites. In addition, Marie E. Drake has been recognized as a top attorney by Avvo and a top lawyer by the American Law Society.
- Numerous Practice Areas – Our law firm focuses on family law, divorce, child custody and child support.
- Non-adversarial and Aggressive Legal Strategies – The Drake Law Firm, P.C. helps families solve disputes through non-adversarial resolution strategies. However, our firm is always ready to litigate cases before a judge.
- A Firm That Gives Back – Our firm is committed to the community and giving back. By supporting charitable organizations, such as Living Journeys, we hope to make Golden, CO, a better place for everyone.
Negotiating Property Division
If you don’t want to go to court, your Golden, CO, property division lawyer can use non-adversarial conflict resolution strategies to reach an agreement with the other side. Both sides will make financial disclosures, and then we will negotiate a settlement. Once you reach an agreement, we will submit it to the court for approval. The judge will review your financial disclosures and the agreement to ensure that the settlement is fair. Then, the judge can sign off on it, and you can divide the property and move forward with your divorce.
Dividing Marital Debt
All debt incurred during a marriage is considered marital property. This includes credit card debt and home mortgages. The court also uses equitable distribution when dividing marital debt. Because it’s equitable, the spouse who makes more money might be assigned more debt. Having a Golden, CO, property division lawyer is a good line of defense when handling these matters. Your attorney will review the financial disclosures and help you develop a plan that makes sense for your financial situation.
Protect Property With A Prenup Or Postnuptial Agreement
If you are about to get married or are currently married, you can protect your property by creating a prenup or postnuptial agreement. These agreements allow you to choose how you’ll divide the property if you get divorced. While marital agreements make some people uncomfortable, they help people feel secure during marriages and protect their interests in divorces.