Denver Property Division & Settlement Lawyer
At ELKUS & SISSON, P.C., our team of seasoned professionals brings a wealth of experience to navigating complex legal challenges with precision and dedication.
One of the most difficult aspects of divorce proceedings is dealing with property distribution and debt settlement. Making the decision to divorce is never easy, and many ex-partners struggle to come up with a property settlement plan.
At Elkus & Sisson, P.C., we know how challenging this process is, and our divorce attorneys are knowledgeable and skill in property settlement. We will help you come up with a plan that is fair and equitable. Typically, both parties are responsible for the property and the debt acquired during the marriage, and we will work diligently to help you come to a property settlement agreement.
Our property settlement attorneys will work with you to coordinate a marital settlement agreement between you and your estranged spouse. If an agreement cannot be achieved, and the court’s intervention is necessary, the court will decide upon how your marital property will be distributed.
Factors to Consider for Colorado Asset Division
The courts consider several factors when dividing property including:
- contributions of each spouse when the property was originally acquired
- financial and domestic contributions made by both individuals
- the economic means of each spouse.
Throughout this process, your Denver asset division lawyer from Elkus & Sisson, P.C. will work closely with you, gathering all pertinent information related to both property and debt acquired during your marriage, ensuring that you are represented to the courts fairly and accurately.
Issues Related to Property Settlement Cases
Complex Asset Division
If the couple owns a lot of real estate or one spouse has a lot of stocks and bonds then the division of assets get complicated quickly. In these cases it is much better to get legal counsel instead of trying to divide them up on your own.
Stocks and Bonds
Dividing up stocks and bonds can be a complex issue when getting divorced. Even though assets might be in one name, if they were obtained during the marriage then they need to be distributed equally. A couple of options would include:
- Liquidate the investments and split the money
- Paying one spouse the cash value of their half
- Dividing up the amount of shares so that they are considered “equal”
Equitable Distribution
In Colorado the property division must be “equitable” but this does not necessarily mean each party will receive 50% of the assets in the divorce settlement.
What factors are used to determine equitable distribution?
- The current earnings of each spouse
- The potential earnings of each spouse
- The tax implications
- The length of the marriage
- Who has custody of the children
Hidden Assets
Property division can be even more complicated if one of the spouses is dishonest and attempts to hide assets. Both parties should have access to and be aware of financial records. If one spouse appears to be dishonest then a more complicated discovery process may be needed. There are tools available that should, in most cases, reveal all the assets. Examples include:
- Oral depositions
- Written requests
- Document demands
- Hiring a forensic accountant to uncover all financial records
There can be serious penalties for the spouse that is unwilling to comply or be honest during this process.
Tax and Title Issues
It is important to consider the tax implications in a divorce settlement. A common tax question is:
Will I Have to Pay Tax on a Property I Acquired in a Divorce?
Typically, you will not need to pay gift tax. Other taxes associated with owning the property still apply.
It is important for our property settlement attorneys to investigate the tax implications of assets to be acquired in the settlement.
What Assets Can and Cannot Be Split Up in a Divorce Settlement
Marital vs Non-Marital Property
Marital property is considered to be the assets that can be divided up in the divorce settlement. However, not all assets owned by the divorcing couple can be considered Marital Property. Typically, the assets obtained during the marriage will be subject to division.
Typical Marital property may include:
- Homes and real estate bought during the marriage
- Vehicles
- Home furnishings
- Debt
- Stock & bonds
Non-Marital property may include:
- Any property owned before the marriage
- Inheritances
- Gifts
- Property owned after the divorce filing
Can Changes Be Made to a Marital Settlement?
Yes, changes can be made to the final decision made by the courts but you need to make an appeal quickly. A general guideline is to file an appeal within 30 days.
There will also need to be a good reason for the appeal. An attorney that cares about your situation will be able to guide you in the right direction and help you decide if an appeal is a good idea.
Property Settlement Attorneys With Experience
In addition to helping you achieve a reasonable and fair property settlement agreement, our divorce attorneys can help you with all aspects of your divorce. Our family law team has extensive experience in property settlement cases.
We take the time to get to know you personally and are always available to answer your questions. We work diligently to present you with all options and are committed to finding the solutions that are best for you and your family.
Property settlement is a difficult process. Get help from our experienced family law attorneys today by calling (303) 567-7981.
Top Rated Lawyers in the State of Colorado
Common Types of Family Law
Divorce
Divorce
In Colorado, the laws surrounding divorce can be difficult to navigate. You do have the option to work out an uncontested divorce between you and your spouse. If this is not possible then it is important to find an experienced divorce lawyer. Even if you and your spouse are currently cooperating while navigating divorce, discussing your options with an attorney can be helpful. Divorce attorneys provide several services that will help you move on with your life. Things you will need to address when getting divorced include the division of property and assets, determination of allocation of parental rights (“child custody”) (if applicable), and spousal maintenance payments. Our family attorneys will also be able to provide you with the needed legal advice during the divorce. There are several things that you should and should not do to help you strengthen your case—that’s one reason we recommend talking to an attorney as soon as the divorce is being considered. In the gap between deciding on divorce and hiring an attorney, this “learning phase” will allow you to avoid making critical mistakes that take additional time, work, and money to fix. Protect yourself from the very beginning with our team’s representation.
Find out more information about the services our divorce attorneys provide.
Spousal Support
Spousal Support
Some divorce settlements require one spouse to pay spousal support to the other. Once referred to as alimony, this is now called spousal maintenance/support. Spousal support seeks to give a lower-earning spouse financial stability if there is a major earning disparity and if usually is considered if the marriage is at least 3 years.For example, divorce cases involving a high-earning spouse and a stay-at-home parent are likely to involve spousal support. The length of your marriage is also a contributing factor; someone married for a very short period will likely not pay or be paid alimony upon the end of the marriage but it is always in the court’s discretion However, an individual who was married for 20 or more years before divorcing could find themselves paying or receiving lengthy or permanent spousal support, which only terminates upon the death of the receiving party or remarriage of the receiving party.
Learn more about spousal support and how our firm can help you.
Child Custody
Child Custody
Allocation of parental Responsibilities (“Child custody”) is a subject that divorcing couples will need to confront. It can be emotionally draining and very complex. There are several factors that will help the court decide on the custody and visitation rights of parents and/or grandparents. Our family attorneys are experienced in the areas of:
- Visitation and parenting time
- Father’s rights
- Grandparents’ rights
- Parenting Time modification
If you are going through a divorce you may need to learn more about our services relating to child custody battles.
Child Support
Child Support
Doing what is in the best interest of the children should be at the heart of every child custody case. The Courts utilize a child support worksheet which demonstrates each party’s financial responsibility for the children (child) based on income, overnights and other factors. Our family attorneys will help calculate the needs based on financial records and statements to make sure your children are taken care of. Extensive medical care needs, extracurricular activities, childcare expenses, and other factors can increase or decrease child support. In most cases, the party who has the child the majority of the time receives child support paid by the parent with parenting time.
Explore our child support services to find out how we can help you.
Property Settlement
Property Settlement
To get the best results of property settlement cases during a divorce you need to have a skillful attorney with extensive experience. Property division can be very complex and exhausting when you start to include multiple properties, stocks, bonds, vehicles, etc… Assets that are considered “marital” and “non-marital” can also be complicated. Property that was acquired during the marriage will most likely need to be considered “marital” and things that were accumulated outside the marriage are most likely “non-marital”. It’s especially important to work with an experienced attorney if you and your spouse have a large and varied portfolio of assets. A fair division of assets depends on the accurate identification and valuation of each asset. Other situations also call for an attorney with extensive experience, including situations where you suspect that your spouse is attempting to hide assets or divorces involving hard-to-trace assets like cryptocurrency and NFTs.
Find out more about the services our property settlement attorneys provide.
Fathers' Rights
Fathers' Rights
Custody laws vary from state to state. This can have a significant effect on custody battles for fathers. According to Colorado law parenting time is based on what is in the best interests of the minor children. The Courts want the parties to be involved and to have joint decision making, when it’s appropriate and in the children’s best interests. Many fathers go into divorce or custody battles assuming that the odds are already against them and that the court will automatically side with the mother which is not the case and not the law. The court recognizes the importance of both parents in a child’s life. Whether you’re establishing your rights as a divorcing father or during a “custody” battle, know your rights and don’t give up before you’ve even started.
If you are a father involved in a custody battle then have a look at our guide that includes eight tips for fathers going through a child custody case.
Grandparents' Rights
Grandparents’ Rights
Grandparents often have special relationships with their grandchildren that can make these cases complex and highly emotional. You do have to meet certain criteria to qualify for grandparents’ rights in Colorado. You may be able to seek visitation with your grandchildren if their parent passes away and the other parent is keeping them from you, a non-parent currently has custody, or the child’s parents have divorced and your time with the child has been revoked.
If you need to know what your rights are as a grandparent relating to visitation of your grandkids then read our information on grandparents’ legal rights.
Adoptions
Adoptions
Adoption is a beautiful way to give a child a home and grow your family. No matter which type of adoption you are pursuing, it is crucial to work with an attorney who can navigate this complex area of family law. There are several types of adoptions recognized in Colorado. A foster adoption may occur after a biological parent’s rights are legally terminated and the foster parent chooses to adopt the child in their care. International adoption generally requires assistance from attorneys in both countries. Families pursuing private domestic adoption need a lawyer to protect their best interests as they seek to finalize their adoption. When a child is adopted by their grandparents, aunts or uncles, siblings, or extended family members, it’s referred to as kinship adoption. Stepparent adoption allows a stepparent who has taken on an important parental role to adopt their stepchild if the child’s biological parent has given up their rights or had their rights terminated. Adoption is complex, and there are many ways that the smoothest adoption can fall apart. Find out how our firm can help you with your adoption case.
Learn More About Adoptions
Marital Agreements
Marital Agreements
When you get married, divorce is an impossible thought. But for nearly half of all marriages, divorce is the eventual outcome. Marital agreements, more commonly known as prenuptial and postnuptial agreements, are contracts that can protect both parties in the event of a divorce. It’s important to work closely with an attorney in the drafting or review of these documents. You want to ensure that your best interests are protected, but you also want a legally enforceable contract. One-sided or vague marital agreements can get thrown out.
Learn more about your marital agreement options.
Family Law Violations
Family Law Violations
Having an agreement isn’t always enough. If you have a combative or uncooperative ex-spouse or co-parent, you could have years of family law violations to deal with. Refusing to pay for their share of medical bills, not paying spousal or child support, withholding your child at exchange time, and otherwise going against the clear terms of your agreement are issues that must be addressed. Let us help you find solutions to your ex’s family law violations.
Common Law Marriage
Common Law Marriage
Most states don’t recognize common law marriage, but Colorado does. It’s a complex analysis that does not rely on just one factor but a totality of factors and is in the discretion of a court to decide whether a common law marriage exists. Some factors include: whether a couple lived and held themselves out as a married couple, engaged socially with others as a married couple, received benefits for the other, and purchased property together, paid joint taxes, as well as many other factors. However, common law marriages present unique legal challenges, particularly when a couple splits up or has disputes about the status of their relationship. Our firm is here to help you with your concerns about your common-law marriage.