Westminster Property Division
During a divorce, the division of property can be one of the most confusing and complicated processes for all parties involved. What assets will need to be divided and what assets will be kept separate? What constitutes marital property and how will its value be decided? At Plog & Stein, P.C., our Westminster property division lawyers have seen it all and can help answer these divorce questions related to your property division case. Our skilled team brings decades of family law experience to protect the assets you’ve accumulated during the course of your marriage.Preserving Your Assets in a Westminster Divorce
Colorado courts follow “equitable distribution” when it comes to dividing property in a divorce. “Equitable distribution” means property will be divided as the judge determines to be fair. However, the court only has the authority to divide “marital property,” which will generally be property acquired during the marriage, but for a few statutory exceptions. Rest assured that the attorneys at Plog & Stein are well versed in all of the statutory exceptions and intricacies related to marital property and your interests. As stated in C.R.S. 14-10-113, the court “shall divide the marital property, without regard to marital misconduct, in such proportions as the court deems just after considering all relevant factors.” In most instances, courts will divide the marital estate equally. This also holds true when cases are resolved through the negotiation process.
Though not common, there are instances in which a court might order an unequal distribution of marital property. Relevant factors that can affect whether a property is unequally distributed include: what contributions each spouse has made to the acquisition of the property (including contributions of a spouse as a homemaker), the value of the property set apart to each spouse, the economic circumstances of each spouse, and any increases or decreases in the value of a separate property of the spouse.
Classification of property as either “marital” or “separate” will determine if the property is subject to division at the time of the divorce. “Marital” property is any property acquired during the marriage, with the exception of gifts or inheritances. Also, increases in the value of “separate” properties during a marriage and “separate” property that becomes jointly titled may be considered “marital” and subject to division in a divorce.
There are a variety of methods used to assess value and divide the many forms of marital resources like businesses, real estate, pensions, 401Ks, and stocks. The valuation process can be convoluted and confusing, and sometimes necessitates the use of experts. It is important to discuss your Westminster property division case with a seasoned attorney who can help analyze all assets to determine if they are marital or separate property and how best to value them. At Plog & Stein, we deal with both complex and simple martial estates, knowing full well how important preserving and protecting your assets and rights are to you.Property Division Attorneys Helping Westminster Residents
The City of Westminster is constructing a new downtown area on a 105-acre site at US 36 and Sheridan Boulevard. Already known for its high quality of life, this new Downtown Westminster development will become the next urban center on Colorado’s Front Range. Real estate values are rising in the area, and if you are dealing with a divorce, you need a property division lawyer who understands how to protect your hard-earned assets. Whether you have to divide actual real estate or other assets, our Westminster property division attorneys at Plog & Stein, P.C. are well versed in analyzing marital property of all kinds and we are ready to assist you with your case. Call us at 303-781-0322 to go over your questions about property division in your divorce or contact us to set up an appointment today.