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Getting a divorce may be one of the most emotionally charged experiences you’ve ever had, which can make it difficult to focus on the practical matters of property division, support and custody.  Whether you initiated the divorce yourself, or were recently served with divorce papers, you may be hearing a lot of new terminology that you don’t understand.  Fortunately, the Colorado Springs family law attorneys at the Marrison Family Law LLC are well aware of this, and are prepared to help you make sense of your most important divorce documents. 

One of the most contentious issues for many couples is the marital property settlement; the document that legally divides the marital assets and liabilities in an “equitable” manner.  If your case goes to court in Colorado, the judge will apply the state’s “equitable distribution” model to decide how your assets are divided.  However, this doesn’t mean your property will be split 50/50.  While the court cannot make decisions based on “fault” in the divorce, they can take into consideration the amount each spouse contributed to the household income and acquisition of marital property.  If special circumstances apply, then the Marrison Family Law LLC’s team of Colorado Springs family law attorneys may recommend mediation in lieu of a hearing.

Don’t make the mistake of thinking your marital property is all about physical property like real estate and cars. This agreement must also cover other assets like pensions, 401(k) plans, bank accounts and personal property.  Not everything that a couple acquires during the marriage will be counted as marital property, however.  If one spouse received an inheritance or a gift, he or she will keep that asset in full after a divorce, including any interest it has accrued. 

The more complicated a couple’s assets, the more help they will need from an experienced divorce lawyer.  It is in your best interest to shorten the time spent negotiating these issues, because the sooner your divorce becomes final, the less complicated your calculations will be.  If you expect your marital property settlement will be problematic or contested and you want to make sure you get it right, consult with the Colorado Springs family law attorneys at the Marrison Family Law LLC.

Patricia Marrison is a Family Law attorney in Colorado Springs, CO. and the owner of the Marrison Family Law LLC, Colorado Springs largest Family Law practice.  The Marrison Family Law LLC is devoted to assisting with the difficulties of the breakup of relationships, be it common law marriage, a non-marriage with children, or dissolution with or without children. We attempt to serve the entire spectrum of relationships, from those couples with the simplest, uncontested dissolution to the highly conflicted relationship involving allegations of domestic abuse.