Resolving Property Issues in a Colorado Divorce
Colorado is an equitable division state. This means marital property division is approached on the basis of what is fair — not necessarily what is equal. At the law firm of Stowell, P.C. in Lone Tree, Colorado, our lawyers will protect your financial interests in all the property issues that arise in divorce, including marital property division and alimony.
Three Types of Property in Divorce
In Colorado, property will be classified as one of three different types of assets in a divorce:
- Your personal property
- Your spouse's personal property
- Marital property that is subject to division
Marital property is includes assets and debts acquired during your marriage, including houses, investments, pension plans and 401(k) accounts.
Separate property includes gifts and inheritances received during your marriage, as well as property you acquired before your marriage. Separate property is yours to keep. However, any increase to separate property that occurs during your marriage is marital property and is subject to division. For example, interest gained on a bank account bequeathed to you by a passing relative could be considered marital, but the underlying amount itself would not.
Will I Receive or Have to Pay Alimony?
Though better known as "alimony" or "spousal support," Colorado law describes the concept of payments from one spouse to another as spousal maintenance. It may be paid to either the husband or the wife after divorce, and can be temporary, permanent, and payable over time. Courts will consider the following factors when determining whether alimony will be paid:
- Length of the marriage
- Disparity of income between the two parties
- Whether the lower wage earner has sufficient separate property and income to meet his or her reasonable needs based on the lifestyle enjoyed during the marriage
- The division of the marital estate
Courts may also consider earning potential, the age of the parties, physical and mental health and other factors when determining whether alimony will be awarded.
Attorney Consultation
To discuss marital property division and alimony with a lawyer at Stowell, P.C., call 888-353-9358 or fill out our contact form. From our office in Lone Tree, Colorado, we represent clients in the Denver metropolitan area and throughout Douglas, El Paso and Pueblo counties.
