Property Division Law Firm in Colorado Springs, Colorado
When going through the divorce process, many people fear that they will be left with nothing. At the Law Office of Greg Quimby, P.C., we want you to know that you won't just be left empty handed. We will work hard to make certain that you leave your marriage with your fair share of the property accumulated during that marriage.
Our founding attorney, Greg Quimby, is also a Certified Public Accountant (CPA) with an MBA in finance. This knowledge is critical to helping our clients receive equitable property settlements. It ensures that we understand the complex financial issues that arise when working toward fair property division.
Contact an experienced legal team to protect your assets during a divorce.
Dividing property and debt starts with determining what is marital property and what is marital debt. Basically everything accumulated during the marriage is either marital property or marital debt. What was accumulated prior to the marriage may be separate property and separate debt, allocated to the party that had the property or debt prior to the marriage. There are numerous exceptions that you will need an experienced attorney to help you understand. That's where we come in. We have that experience.
These matters become complex when a piece of property has aspects of marital property and separate property. For example, a house bought prior to the marriage is separate property. However, if that house increased in value during the marriage, that additional value is considered marital property. Our lawyers know how to sort through all of these complex matters.
Equitable Division of Property
In most courtrooms in Colorado Springs, a 50/50 division is presumed. However, the law does not require equal distribution. The law requires equitable distribution. There are cases in which a different allocation of either the assets or the debt is appropriate. The court will look at the situation of the parties and their individual needs. Our goal is to determine what is fair for you and see that you get that outcome.
To protect your property and assets, contact one of our experienced asset protection lawyers in Colorado Springs, CO for a free initial consultation. The Law Office of Greg Quimby, P.C. can help!