Colorado Springs Property Division Attorneys
Ensuring the Fair Division of Property during Divorce
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 be left empty-handed. We will work hard to make certain that you leave your marriage with your fair share of the marital property.
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 dividing property fairly.
Determining Marital Property & Debt
Dividing property and debt starts with determining what is marital property and what is marital debt. Essentially everything accumulated during the marriage falls into one of these two categories. What was accumulated before the marriage may be separate property and separate debt, allocated to the appropriate party in a divorce. Of course, there are numerous exceptions – but our experienced property division lawyers in Colorado Springs are here to clarify everything.
These matters become complex when a piece of property has aspects of both marital and separate property. For example, a house bought before 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 these complex matters.
Is Colorado a Community Property State?
Colorado law does not subscribe to the concept of community property. Instead, Colorado is an equitable distribution state, which means the court will carefully assess your situation to determine what is fair for both parties.