Ending a marriage in Colorado can require tying up many loose ends. Support plans must be finalized for children and former spouses. Paperwork must be filed to effectuate the divorce. Additionally, the many articles of personal and real property that individuals own must be divided and assigned when single households split.
Dividing property pursuant to divorce is governed by Colorado Revised Statute 14-10-113. Colorado courts can look at many factors when deciding how to fairly assign property to former partners. Courts can evaluate how each of the spouses contributed to acquiring items of property during a marriage and that evaluation can also account for the contributions of a spouse who worked in the home.
Courts will also look at the circumstances under which items of property were acquired. If certain items were directly gifted or bequeathed to one spouse and not the other, those items may be considered the sole property of the recipient. Additionally, whether an item of property was purchased or acquired after a divorce was finalized can factor into whether it will be considered separate or marital.
Premarital agreements, also known as prenuptial agreements, can stipulate that certain items of property shall remain separate even during divorce. Colorado courts will honor those agreements if they meet the requirements established by state law. Items of separate property not covered by premarital agreements that increase in value during a marriage will be considered marital property by state courts.
The foregoing paragraphs list only a few of the many considerations Colorado courts will use to divide property pursuant to a divorce. The list is not exhaustive and should not be read as specific legal advice on property division. Individuals who would like to learn more about the equitable division of marital property in Colorado can choose to work with family law attorneys who possess expertise in the areas of divorce and property division.