July 6, 2022
Preparing to Divide Marital Property
Whether you have decided for sure that your marriage is over or you’re in the process of deciding whether a split would be the healthiest way forward, it is important to speak with a reputable divorce lawyer Colorado from Zweig Law, PC as soon as possible. All too often, individuals wait until they’ve officially filed for divorce to begin constructing a divorce-related legal strategy. It is important to understand that being as proactive as you can – and to be so at the earliest stage of the process as possible – will help to ensure that your divorce is not unnecessarily stressful and that you ultimately receive a fair divorce settlement.
Colorado Marital Asset Division Standards
Family court judges in the state of Colorado are bound to divide marital property according to an “equitable distribution” standard. This is an approach distinct from the “equal distribution” standard employed in many other states. In equal distribution states, the value of a couple’s marital property must be divided 50-50 with virtually no exceptions. In an equitable distribution state, marital property can be divided in whatever way is fair. Certainly, “fair” generally means that each spouse is entitled to roughly half of the marital assets in question, but this is not always the case.
It is important to keep this standard in mind as you and your spouse begin approaching the process of dividing your assets. If you are able to agree on a property division split that is fair and agreeable to you both, the court should uphold your approach. If your divorce process becomes contentious and a judge is called upon to intervene and settle your fundamental differences, they will resolve your property division question in whatever way they deem to be fair to both parties.
What Are Your Property Priorities?
Whether you suspect that you and your spouse may not be able to bridge your differences when it comes to marital property or you fully expect that you’ll be able to come to an amicable agreement without judicial intervention, you’ll want to start thinking about your property priorities now. Before you meet with the legal team at Zweig Law, PC, take some time to jot down your major marital assets and the approximate value of each. Are there any assets that you’re particularly attached or unattached to? Any that you’d be willing to fight over in court and any that you could let go of without much thought?
Constructing marital asset priorities will help our firm to build a solid asset division strategy on your behalf. No one approaches the issue of marital priorities with the exact same rationale in mind. Understanding what you want to fight for – if anything – and why will help us to advocate effectively on your behalf. Thinking these issues through can also help to inform your actions in a variety of ways as you progress through the divorce process. Connect with the compassionate legal team at Zweig Law, PC today to learn more. We look forward to speaking with you.