Understanding Separate vs. Marital Property in a Colorado Divorce
Divorce is one of the hardest things you can ever go through. In the mix of your emotions, you have to somehow find the strength to figure out finances and who gets what for property and belongings. Danielsen Westhoff understands how personal and sensitive this is, and a Broomfield alimony lawyer can help you tackle each step of this process.
What is Considered Separate Property in Colorado?
In Colorado, separate property is usually defined as assets that one spouse owns before the marriage. This may include:
- A piece of property that was inherited or bought by one spouse
- A gift made to one spouse and not the couple
- Some personal injury settlements
If you can prove that these assets were not touched during the marriage, they may stay with you after your divorce. However, mixing separate property with marital assets can be tricky and lead to a dispute. An example could be using your inheritance money to buy your family home together.
What Is Considered Marital Property?
Assets acquired during the marriage usually fall under marital property, regardless of whose name may be on the title. This may include the following:
- Investments, vehicles, or homes that were purchased during the marriage.
- Income earned by either spouse
- Pensions or retirement accounts accrued during your marriage.
Colorado is an equitable distribution state. This means that marital property is meant to be fairly divided, but not equally. The court will keep factors in mind like each spouse’s financial situation and contributions to the marriage when making their decision.
What Are Your Rights If Your Name is Not on a Deed But You Are Married?
It does not matter if only one spouse’s name is on a deed in Colorado. If the home was purchased during your marriage, it is likely going to be considered a marital asset. Even if it was acquired before the marriage, any increase in value during the marriage could be subject to division.
Your rights include a share of the property’s value, even if you did not directly contribute to the purchase. Colorado recognizes that managing a household, supporting a spouse’s career, and raising children are valuable contributions as well.
How Long Do You Have to Be Married in Colorado to Get Half of Everything?
There is no automatic timeline that guarantees a 50/50 split. Colorado courts consider fairness rather than how long your marriage lasted. However, a longer marriage commonly results is a more even split of assets because of the deeper financial interdependence present.
In a shorter marriage, a judge usually aims to restore both parties to their pre-marriage financial state, which can mean separate property stays intact, and marital property division may lead towards fairness over equality.
How to Prove Separate Property
A divorce can get tricky to deal with if you have a spouse trying to argue something should not be considered separate from yours. Properly proving separate property will require clear documentation. This may include:
- Documentation of gifts or inheritance
- Pre-marriage financial records showing ownership
- A record showing that separate property was not mixed with marital funds
The burden of proof is on you, so it is important to stay organized so you can prove your assets are only yours.
Protect What is Only Yours With a Broomfield Alimony Attorney
Our team at Danielsen Westhoff takes each case seriously and with compassion. We realize each divorce case is different and the strategy should not be the same as the previous case. Start with a free consultation to see how we may be able to help you.