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Denver Property Division Lawyer

Denver Property Division Lawyer

At Johnson Law Group, we understand that divorce is a challenging and emotional experience. One of the biggest concerns during this process is the division of property. The fear of not receiving a fair share can create tension and make negotiations difficult. Our experienced Denver property division attorneys can guide you through this complex process and help you understand your rights, thereby increasing your chances of reaching a fair settlement.

Even in amicable divorces, navigating property division can be complicated. Many couples are unaware of the full scope of assets and debts that constitute marital property. This lack of understanding can lead to unintentional omissions and disputes. For example, one party may agree to spousal maintenance without realizing the other may also be entitled to a portion of their retirement funds. 

Johnson Law Group can help you identify all marital assets and debts, fostering transparency and facilitating a smoother, more equitable division. We offer virtual consultations via Zoom, Teams, phone, or in person, and we have Spanish-speaking staff to serve our diverse community better. 

Opened in 2015, we provide clear, empathetic, and thorough legal support during this challenging time. Call (720) 744-3513 to schedule a free consultation with a Denver property division lawyer today.

Overboard: How to Avoid Sinking in Your Colorado Family Law Case Written by Denver Family Law Attorney Myles S. Johnson

Divorce doesn’t have to be dramatic. For the litigants, losing your spouse is significant enough. But you can choose the way it affects your daily life. The only guarantee I can give is that the feeling that you have right now will not be the feeling you end with. This is a season in your life, and it must be approached that way.

 

How Colorado Law Treats Marital Property During a Divorce

When it comes to asset division during divorce, there are two types of jurisdictions: community property states and equitable distribution states. Several states in the West are community property states that require 50/50 division of marital property. In contrast, Colorado is an equitable distribution state. From a legal perspective, these states favor a fair distribution of assets, based on contributions to and sacrifices for the marriage that were made by both parties.

It is also important to pay attention to trends in the courtroom. While 50/50 distribution is not required, it is presumed. This means that most courts favor this type of distribution and consider it to be fair. However, Denver judges may make exceptions based on the specifics of the marriage and the couple's finances. The length of the marriage and whether one person became a full-time homemaker are two of the biggest determining factors.

How Our Denver Property Division Lawyers Can Help

No matter how similar your marriage and financial situation may appear to someone else's, you need a unique property division plan. Your attorneys at Johnson Law Group will work with you to protect your rights. If your partner feels willing to cooperate with you, this makes it even easier to expedite the process. When litigation becomes necessary, however, you can count on firm representation in the courtroom.

We Listen

We begin all our property division cases by listening intently to what you have to say about your finances and the marriage. Marriage is a two-person commitment and so is divorce. Because of this, the relationship dynamic may also determine how the Denver property division attorney assigned to your case charts the approach.

We Review

If you are a breadwinner or have otherwise maintained a career, you may have access to all or most of the financial documents necessary to begin the process. Dependent spouses may often have a more difficult time trying to access bank statements and filed tax returns. Our experienced asset division divorce lawyer will assist you in sourcing the additional documentation. We may also liaise with financial experts if you suspect your spouse may be hiding assets from you.

We Recommend

Once we have all the data we need to make informed decisions, we will recommend property division options. If your spouse is on board with an amicable divorce, you can review this together. Our recommendations may take the following into consideration:

  • Current Colorado laws on property division
  • Current trends in the courtroom regarding property division
  • Whether there are children or other dependents involved
  • Whether there is a wide gap in current and potential earnings for both parties
  • Whether one spouse made career-building contributions to the other
  • Current income streams, assets and debts

We Negotiate

In an ideal situation, your spouse immediately agrees to the proposals and we can move forward with a divorce settlement. Unfortunately, this rarely happens. It is important to note that negotiation is not always a bad thing, so enter the process with an open mind. For instance, some spouses want a clean cut to relationships. Your spouse may want to offer more currently owned property or cover some of your debts, in exchange for doing away with alimony. In some cases, this is a settlement worth considering.

We Protect

We are also committed to protecting family relationships, especially when children or other dependents are involved. When spouses cooperate, this works well. If your spouse takes a combative approach, we try to neutralize the situation before it escalates. Some spouses are committed to making things difficult. When this is the case, we may choose a more aggressive stance to protect your rights.

Tax Implications in Denver Property Division Cases

At Johnson Law Group, we understand that property division in a divorce involves more than just splitting assets; it requires careful consideration of the tax implications. While the transfer of property between spouses during a divorce is generally not a taxable event, it is crucial to understand the long-term effects. The original purchase price, or "basis," of the asset transfers with the property. This means that when you eventually sell the asset, you will be taxed on the difference between the sale price and that original basis, potentially leading to capital gains taxes. Careful planning can help mitigate these future tax liabilities.

Alimony payments also have specific tax implications, which have changed in recent years. For divorce agreements finalized before January 1, 2019, alimony payments were typically deductible for the payer and considered income for the recipient. However, the tax laws changed significantly for agreements finalized after this date. Now, alimony payments are no longer deductible for the payer and are not considered income for the recipient. Understanding which rules apply to your situation is essential for accurate financial planning.

Retirement accounts, such as 401(k)s and IRAs, often represent a sizable portion of a couple's assets. Dividing these accounts requires a legal document called a Qualified Domestic Relations Order (QDRO). A QDRO allows for the tax-free transfer of funds from one spouse's retirement account to another. Without a QDRO, any withdrawals from these accounts would likely be considered taxable distributions, potentially incurring significant penalties. We can help you navigate the complexities of QDROs and have your retirement assets divided fairly and without unnecessary tax burdens.

How We Handle More Complex Cases

Some property division cases are more straightforward than others. Even if one spouse wants to fight it out in court, the finances may only involve full-time employment, two cars and a home. However, there are some property division cases that include complexities requiring exceptional skill to navigate. We may need to do a more thorough review of finances in these instances and often liaise with financial professionals.

Here are some situations where this may become likely:

  • When both parties brought assets into the marriage but those assets became interwoven
  • When one or both parties have children or other dependents from prior marriages
  • When one or both spouses have multiple income streams
  • When one or both spouses are involved in family businesses and become entitled to a portion
  • When couples decide to settle in other ways to avoid paying or receiving alimony
  • When one or both parties are currently paying child support or spousal support to another household
  • Atención Personalizada

    Cada familia es única, y también lo es cada asunto de derecho de familia. Siempre nos tomamos el tiempo necesario para comprender completamente su situación y adaptar nuestro asesoramiento y estrategia como corresponde.

  • Supportive Counsel
  • Highly Recommended
  • Individualized Attention
  • Supportive Counsel
    We never lose sight of the fact that divorce and other household conflicts can feel overwhelming. Our family lawyers will answer all of your questions to ease your burden in this difficult time.
  • Highly Recommended
    Our clients often take the time to write and thank us, not only for the results we have earned for them but also for the respect we’ve shown them.

Our Attorneys Meet Your Legal Team

At Johnson Law Group, our team of skilled and understanding legal professionals proudly provides comprehensive and efficient legal services for all clients.

    “Myles took great care in guiding a smooth process from start to finish drafting a prenuptial agreement.”
    He was responsive, efficient, and coordinated well with my wife’s attorney. Very happy with the final result.
    - Nick
    “Helped me through a difficult divorce and made what I thought was going to be an impossible process so much easier.”
    Very professional, and caring. Everything was handled well, they listened to all my concerns, and responded in a timely manner. I would highly recommend using Johnson Law Group, they are amazing!
    - Sonja
    “Myles helped me resolve custody quickly and in a way that all parties were happy.”
    Myles is very professional and well informed in his field. Cassidy their paralegal was also extremely helpful and client driven . 5 stars!
    - Stevie
    “I’m extremely proud of the most professional and considerate Johnson Law Group.”
    I appreciate all the help my attorney and paralegal has done for me in the best interest of my daughters future. They’re all most knowledgeable, caring law group! I couldn’t have done it without their genuine support on representing my case(s). I’m grateful for all they have done for my daughter and I.
    - Bonnita
    “My experience with the Johnson Law Group has been nothing more than spectacular.”
    From the initial phone call I spoke to Myles Johnson, he gave great direction on how to proceed. Then acquiring the firm as my legal representation I worked with Said and he helped me step by step to get what I was looking for. I have already recommended two different individuals I know to Johnson Law Group and will be using them for all future situations. From the legal team to Cory at the front desk, everyone at the firm is top-notch.
    - Brady M.

Why Hire Our Denver Property Division Lawyers

For many people, divorce is a frustrating and even terrifying legal process. It is natural to feel anger, hurt and even fear, as you work through the process. Unfortunately, property division is where many disputes become aggressive and tension runs high.

Working with experienced attorneys can help ensure you have professionals to guide you through the process. We also handle many of the unpleasant steps on your behalf.

Contact Johnson Law Group online or call (720) 744-3513 today to schedule a free consultation with a Denver property division lawyer.

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