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Before you can dissolve a marriage in the state of Colorado, all marital property must be divided equitably and legally entered in court as a “property division.”  However, even though Colorado is an “equitable distribution” state, many couples are unclear on what is considered “marital property.”   Working with an experienced Colorado Springs property division lawyer can eliminate any confusion about this issue.

According to Article 10, Sections 14-20-113 of the Colorado statutes, “marital property” can be “acquired by gift, bequest, devise or descent.”  It can also be property that is acquired in exchange for existing marital property, or even property acquired by a spouse after a decree of legal separation.  Even if a couple has a prenuptial agreement, there may still be some marital property that was intentionally excluded from that agreement.  A Colorado Springs property division lawyer will help you take inventory of all marital assets in advance of any mediation or court appearance. 

Basically, everything that was acquired during the course of a marriage will be considered as marital property, including the marital home, vehicles, investments, furniture, vacation properties and more.  A property division lawyer can help you determine which assets should be included in the property division documents, as well as the most reasonable way to divide them up.   

Remember, just because Colorado follows equitable distribution guidelines does not mean that property division is 50/50.  When couples cannot agree, the court will make a decision for them, which will be based on various factors. It is during this time that working with a Colorado Springs property division lawyer is especially important.  

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.