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Familylaw Guru
Familylaw Guru, Attorney at Law, JD
Category: Family Law
Satisfied Customers: 1349
Experience:  Experienced in divorce, child custody, child support, paternity issues, and parental rights.
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I am getting divorce in Colorado after 30 years of ...

Resolved Question:

I am getting divorce in Colorado after 30 years of marriage-how does the courts divide assests in this state?
Submitted: 9 years ago.
Category: Family Law
Expert:  Familylaw Guru replied 9 years ago.
Marital property includes all assets that were acquired by the parties during their marriage to each other. The asset may be jointly titled, as is often the case with a house. A marital asset may also be individually titled, such as a vehicle as long as the vehicle was acquired during the marriage. Marital assets may bear no title, such as furniture, a television, or appliances. If the item was acquired during the marriage, it is marital property, unless the law specifically exempts it. All marital property should be equitably divided between the parties.

If you own a business, a divorce and property settlement first requires a fair and accurate valuation of the business so it can be equitably divided.

Separate property on the other hand is the property a spouse brought into the marriage, or which is otherwise exempt from the marital estate, such as an inheritance. Problems come when a separate asset is converted to marital property, such as when a spouse uses an inheritance to make a down payment on a joint residence. In this case, the separate property has become commingled with marital assets. However, if you use your inheritance to purchase a car or a house, and title the new asset in your name, then the asset remains your separate property. Separate propert is not divided during a divorce.

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Jennifer

Customer: replied 9 years ago.
Reply to Familylaw Guru's Post: You answered some of my questions but what about stocks and 401 pensions?
Expert:  Familylaw Guru replied 9 years ago.

Everything is split equitably. This includes any stocks, 401, any retirement, etc. Anything acquired during marriage must be split equitably. This means you can both agree on how to split everything OR a judge will decide what would be equitable. If you have a lot at stake, I would suggest getting an attorney to fight for you on this and would not just agree to a split.

Jennifer

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