If you find that you and your spouse are considering a divorce, you'll want to be aware of Colorado's divorce laws, specifically concerning property division in 2023. These laws are set in place to help ensure that property is divided fairly between the two parties during a divorce. Because divorce often comes with many changes, you and your spouse will want to work closely with an attorney to help ensure that your assets are divided equally for both of you.
Colorado is an equitable distribution state. This means the court will divide property in a divorce based on what it deems fair, rather than dividing it equally between the two parties. To make this determination, the court will consider many different factors, including but not limited to:
With all these considerations on the table, it's important to note the court has a great deal of discretion when dividing property in a divorce. This means that there is no one-size-fits-all answer regarding how property will be divided in your divorce. Instead, it will all come down to a judge's ruling after considering all these factors.
Another essential thing to understand in Colorado divorce law is the difference between separate and marital property. Marital property is defined as any property that either spouse acquires during the marriage. This includes things like the family home, cars, furniture, financial accounts, etc. Separate property, on the other hand, is defined as any property that one spouse owns before the marriage or any property inherited or gifted to one spouse during the marriage.
In most cases, marital property will be divided in a divorce, while the separate property will not. However, some exceptions to this rule can apply. For instance, if the particular property had become commingled with the marital property (such as when a spouse deposits any inherited money into a joint bank account), it may be subject to division in a divorce. Additionally, if the separate property has increased in value during the marriage (such as when a spouse uses inherited money to purchase a home that goes up in value over time), the appreciation on that property may be considered marital property and subject to division in a divorce.
Once you have decided to divorce, the first step is to inventory the property you own together. This includes both marital and separate property. Once you have a complete list of the property, you and your spouse will need to determine who will get which pieces of property. Sometimes, this can be done through negotiation and agreement between the two parties. However, it may be necessary to go through the court process to have a judge make the final determination.
If you and your parting spouse agree on how to divide your property, you will need to have that agreement put into writing and signed by both parties. Once it is signed, it will become a binding contract. If either party breaches the contract, they may be held liable in court.
If you and your spouse are struggling to come to an agreement on your own, you will need to go through court and have a judge make the final decision. This process begins with each spouse filing a divorce petition with the court. Once the petitions have been filed, the court will set a date for a hearing. At the hearing, each spouse will have the opportunity to present their case for how they believe the property should be divided. The judge will then make an official ruling based on the evidence presented.
A: Conjugal property is defined as any property that either spouse acquires during the marriage. When it comes to dividing conjugal property in a divorce, it is traditionally divided equally between the two parties unless extenuating circumstances warrant an unequal division. For example, suppose one spouse has significantly more income than the other. In that case, the court may award a larger portion of the conjugal property to the less financially fortunate spouse if it finds it unfair to divide the property equally.
A: There is no set answer to this question as it will depend on several factors, such as the specific facts of your divorce case and the decisions of the judge handling your case. There are no set rules that favor a particular spouse when it comes to dividing property in a divorce, so it is important to discuss your situation with an attorney to get an idea of what to expect.
A: The best way to prepare for property division in a divorce is to consult with a family law attorney who will advise you of your rights and options under the law. An attorney can also help you gather the necessary evidence to support your position on how the property should be divided.
A: Any property that either spouse acquires during the marriage is generally considered conjugal property and is therefore subject to division in a divorce. This includes real property, such as a home or land, and personal property, such as furniture, cars, or jewelry. Aside from extenuating circumstances, you can expect any property gained after the marriage began to be subject to division.
If you are considering a divorce, it is crucial to have an experienced family law attorney on your side who can protect your rights and help you navigate the divorce process. At Johnson Law Group, our knowledgeable and compassionate attorneys have years of experience handling divorce cases in Colorado. We can help you understand your rights and options under the law. Contact us today to schedule a consultation.