Equitable Property Division in Colorado Uncontested Divorce
Colorado law requires that spouses in a divorce split their property equitably. There are two important caveats that must be understood in equitable division:
- Equitable is not the same as equal. Equitable simply means that it be done fairly, which is more arbitrary than a simple 50/50 requirement. Everyone interprets fairness a little bit differently, and every situation is unique.
- Only marital property—that which was acquired after the wedding day, or date when the marriage was established (such as in common law cases)—is subject to equitable distribution. Property that either spouse brought into a marriage reverts to them. However, it’s important to note that any appreciation in value after the marriage (i.e., real estate growing in value) is marital property. For example, a vacation house could be mostly separate property, but with a portion of its value as marital property. That portion must be equitably distributed.
Clients need to know that their Douglas County divorce attorney will have the legal diligence to really dig into the details of their case, and then be able to present that case clearly and firmly in negotiations or litigation. Clients can find the legal counsel they need at Moreno Family Law, LLC.
Seek Guidance from Douglas County Divorce Attorneys. Call (303) 590-3690 or reach out online today.
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Spousal Maintenance in Colorado
Spousal maintenance is the legal term for what is often casually called “alimony”. Its purpose is to ensure that both spouses can enjoy the same standard of living they enjoyed during the marriage—or, at the very least, that any decline in the standard of living is not disproportionately borne by one spouse.
It’s not uncommon for one spouse to earn substantially more in income than another. The reality of marriage is that all contributions—including those not rewarded financially—are vital. Colorado law is absolutely clear that these contributions, such as being a homemaker, raising children, and caring for elderly parents, are to be given equal value in a divorce settlement.
