How is the separation of marital property determined in Colorado?

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Question:

How is the separation of marital property determined in Colorado?

Answer:

The  separation of marital property in Colorado is determined by equitable distribution laws, as opposed to by community property laws. This means the court will attempt to make a fair distribution of marital assets by looking at several key factors.

Factors considered in deciding how marital property should be separated in Colorado include:

  • What contribution each spouse made to the marriage. This includes not just the financial contribution that each spouse made or how much each spent on acquiring the marital property, but also the contribution the spouse may have made in the home. In other words, if one spouse worked and the other stayed home with the children, both of those jobs will be given value when dividing up marital assets
  • The monetary value of the property
  • Each spouse's economic circumstances when the property is divided, such as the ability to pay make mortgage payments on the house if the home is kept by the custodial parent
  • Whether the separate property that the parties brought into the marriage has increased in value due to contributions made by the other spouse. 

Generally, only marital property is considered and divided- separate property that each party brought into the marriage is kept by that respective party. If, however, one of the spouses contributed to increasing the value of separate property, then this increase in value will be considered to be a marital asset and divided as such. 

These rules are designed to make things fair, but can become confusing. As such, if you are going through a Colorado divorce, you should strongly consider speaking with an attorney for guidance and advice on the distribution of marital assets. 

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