How is property divided during a divorce in Colorado?
Tawni Cummings
Colorado managing attorney at Marble Law
Key Takeaways
- Colorado uses “equitable distribution”. The court divides property and debts in a fair—though not necessarily 50/50—manner.
- To determine how to divide property, Colorado courts consider factors such as what each spouse contributed to the marriage and each spouse’s economic circumstances when the divorce will be official.
- If you have a valid prenuptial agreement that specifies property division, the court will typically abide by that.
In a Colorado divorce, property and debts are divided based on an “equitable distribution” principle. This means the court divides property and debts in a manner that is fair but not necessarily equal.
When determining how to divide property, Colorado courts consider several factors, including:
- Each spouse’s contribution to the acquisition of the marital property, including the contribution of a spouse as a homemaker or caregiver to the children.
- The value of the assets each spouse receives.
- Each spouse’s financial circumstances at the time of the divorce, including the desirability of awarding the family home to the primary caregiver of the children.
- Increases or decreases in the value of separate property either spouse may have.
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What is considered marital property in Colorado?
Only marital property can be divided in a divorce. Most assets acquired during the marriage are considered marital property. This may include:
- A house
- Other real estate
- Cars
- Investments
- Retirement accounts
- Any increase in value of separate property that occurred during the marriage
What is considered separate property in Colorado?
In a divorce, separate property remains with its respective owner. In Colorado, separate property includes:
- Property that one spouse acquired before the marriage
- Property that one spouse received during the marriage as a gift or inheritance
- Property that both spouses agree isn’t subject to division
What if I have a prenup?
A prenup is a legally binding contract. So if you and your spouse signed a valid prenuptial agreement that explains how your assets and debts will be divided in the event of a divorce, your marital property may not all be subject to division.
If your prenup specifies that certain property that normally would be considered marital is actually separate property, as long as the agreement is sound, the court will abide by your agreement.
Who can help with property division?
If you have any questions about property division, you may find it beneficial to speak with an experienced family law attorney. They can help you determine what property you have a right to and may connect you with other experts, such as forensic accountants, who can further assist you in identifying all of the property that your spouse acquired during your marriage. If you suspect your spouse may have hidden accounts or other assets, a forensic accountant can be particularly helpful.
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