Anything that is considered marital property must be divided equitably between the two spouses in a divorce. Under Colorado law, “equitable” means fair, not necessarily 50-50. At Hogan Omidi, PC, we know that a workable property division requires not just a calculator to achieve a mathematical balance but the ability to think strategically. In many instances there may be advantages associated with particular assets that make them a better fit in an over-all asset division than other items of a similar dollar value.
Figuring out what is “fair” in asset division can be one of the most complicated and contentious parts of any divorce. Our lawyers will discuss your situation and the options that best reflect your goals and financial interests. We have represented many people in Denver and around the state with high-asset or complex property division issues, including doctors, business executives, professional athletes and entertainers, or the spouses of those high earners.
From Kathleen’s interview for the Masters of Family Law series on ReelLawyers.com
Well-Versed In Resolving Complex Property Division
Our lawyers have substantial experience in complex and high-asset divorce. We can capably counsel and represent you in all issues relating to property division at the divorce agreement:
- Division of retirement assets – 401(k) and IRA accounts, as well as pensions and other benefits, are divided fairly, no matter whose name they are in.
- Business valuation – If either spouse owns a business, or you own a business together, you need to know its value to determine how to divide it or compensate for that equity.
- Real estate valuation and division – First and second homes, rental properties and other real estate all figure into the divorce settlement.
- Division of marital debt – You and your spouse share responsibility for debts incurred during the marriage, regardless of who incurred the debt.
- Divorce issues for executives – Executives receive many benefits that need to be considered in property division, including stock options or other stock-based benefits, and deferred income arrangements.
- Spousal maintenance (alimony) often figures into the property settlement equation. A spouse who receives income producing assets may have less need to receive maintenance.
Property and assets located in other states or other countries, as well as secret accounts or asset transfers, are all subject to discovery and may be subject to consideration in the asset division.
Separate Vs. Marital Property (Asset Tracing)
Under certain conditions, property and assets that you owned prior to your marriage will be considered separate property and not subject to division during divorce. However, if you that separate property increased in value during your marriage, the increased value would be classified as marital. The same may be true of property you inherited or received as gifts during your marriage. The specific rules and considerations can be quite technical. The process of tracing separate property to the assets that exist now is not the area for generalizations or a cookie-cutter approach.
Our attorneys will review your financial situation and discuss your options with you, including the steps and process necessary to trace premarital or inherited property or assets to the items that exist now. We not only prepare every case for trial, but we are also experienced negotiators. We always strive to reach a settlement before we resort to litigation. Our goal is to make sure you achieve a fair division of the marital property, with a minimum of stress and maximum overall benefit to you.