Property Division
Experienced Denver Divorce Attorney
The division of property involves complex details and provisions that can seem overwhelming, especially when decisions must be made in conjunction with the emotional toll of a divorce or legal separation. At Jones Law Firm, PC, each Denver family attorney on our team is dedicated to providing you with the personalized attention necessary to ensure that your concerns are properly addressed at every step of the process.
Our firm has more than 45 years of combined experience working closely with clients dealing with property division issues. We are dedicated to helping our clients make informed decisions by ensuring that we properly explain and clarify every aspect of this complex process. Call Jones Law Firm, PC today to learn more.
How will my property be divided?
During a divorce or legal separation, there are different types of properties that may be included in the division process. For those properties that are subject to property division, you and your spouse will need to come to an agreement over the fate of each property. After carefully taking into account your goals and needs, your attorney can develop a strategy to facilitate this process.
Some of the more common types of properties that undergo division include:
- Real estate
- Personal property
- Business ownership
- Retirement accounts
- Shares in stock
Not all properties, however, are subject to property division. Timing and how the property was acquired are two factors that influence whether a property is separate and thus immune to property division, or marital, in which case it will be included in the property division process.
Briefly, the differences between marital and separate property are explained below:
- Marital Property- Regardless of whose name the property is under, all property acquired during the marriage and before the divorce or legal separation decree is considered marital property by the court. There are situations, however, when property is considered separate.
- Separate property - If the property was acquired before the marriage or gained by one spouse as a gift or inheritance, it is separate property. This kind of property may be subject to division to the other spouse if there was a growth in value during the marriage or if that property was commingled with marital assets. In this situation, burden of proof lies with the party claiming that the property is in fact separate.
Ensuring the Fair Division Your Property in Denver
Determining the fairness of the division becomes the basis for negotiations. Fairness is also the critical element that will assist your attorney in recommending asset and debt allocation. At the close of divorce proceedings, the goal is for both parties to reach a mutually beneficial consensus regarding the final division of property.
The different types of property and the time of acquisition make the process of division inherently complex. Our family attorneys are well versed in the intricacies involved with property allocation and in ensuring that the well-being of our clients, including children, is given its rightful place in all negotiations. To find out more about our property division strategies, contact Jones Law Firm, PC to schedule your first consultation.