Division of Assets Attorney
Family Law Attorney in Grand Junction, CO
Types of Property Division
During a divorce, property division can be a complicated issue. Property division means that marital property must be divided equitably between the spouses in the divorce. Colorado defines “equitable” as fair and not 50-50. Whitham Law Group knows how this can impact your life moving forward. The job of the courts is to figure out what is “fair.” This is one of the most tedious and complicated parts of any divorce.
Our lawyer will meet with you about your situation and to discuss what you believe is “fair” when dividing your marital property.
Whitham Law Group are prepared to handle a variety of property division issues, including:
- Business Valuation: If you or your spouse own a business, or if you co-own a business, you may need to determine the value of the business to determine how it should be split between you.
- Real Estate Valuation and Division: This is for first, second, condos, and timeshares as well.
- Division of Marital Debt: You both are responsible for the debt that incurred during the marriage, regardless of who was at fault of the debt.
- Division of Retirement Assets: This includes IRA and 401(k) accounts, pensions, and other benefits as well.
- Divorce issues for executives: Executives receive many benefits that need to be taken into accounts such as severance agreements and stock options.
- Tracing separate property: This entails determining which assets are separate and which assets are martial.
Conditions of Property Divison
Under certain conditions, the assets that you owned prior to your marriage will be considered your own property and not subject to a divorce. Although, if you have separate assets that have increased in value during your marriage, the amount of increase gain is subject to division. This may also be the same case with a property that you inherited during your marriage.