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RayAnswers, Lawyer
Category: Family Law
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Experience:  30 years as a family law lawyer .
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colorado law no children,in the marrage, are the assets split

Resolved Question:

colorado law? no children,in the marrage, are the assets split 50/50 in a divorce
Submitted: 6 years ago.
Category: Family Law
Expert:  RayAnswers replied 6 years ago.

RayAnswers :

Thanks for your question and good morning.

Customer:

good morning, my name is jay

RayAnswers :

Colorado is a marital property state. That means that the "marital estate" will be

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divided equitably. C.R.S. 14-10-113. While in a community property state, the community property is divided equally, Colorado's division of marital property need not be exactly equal - just fair. In most cases, that will result in an equal division of the marital estate, but under C.R.S. 14-10-113(1) the Court will consider a variety of factors when determining a fair division, including:



  • Each spouse's contribution to the acquisition of the property, including contributions as a homemaker.

  • Value of property set aside to each spouse.

  • Economic circumstances of each spouse at the time of the division, including the desirability of awarding the family home to the spouse caring for the parties' children, and

  • Increases or decreases in the value of separate property during the marriage, or depletion of separate property for marital purposes.


In every Colorado divorce, legal separation or annulment case, the family law court will divide marital property and allocate responsibility for payment of debts incurred during the marriage.




Property acquired during marriage is generally marital property, regardless of how it is titled .


Marital property includes any equity in a marital residence, stocks/mutual funds, retirement plans (including military retirement), bank accounts, the increase in value of one spouse's separate property, and tangible property such as vehicles and household goods. A Colorado divorce court will divide the marital property equitably (almost always means equally), based upon the value on the day of dissolution unless the parties agree otherwise.

RayAnswers :

Hi Jay.I gave you basic information here above about marital property.All property from the marriage is presumed to be marital unless it was acquired prior to or inherited property.

Customer:

thank you

RayAnswers :

And yes generally this is 50-50% split of all the marital property and debt here.

RayAnswers :

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Customer:

what about social security, i receive, my wifr does not, she stopped working at 40, she is now 50m and i am 64

RayAnswers :

The court might award here some spousal support or you could agree to it if you make more than her.It would be you agreeing to pay her a monthly amount.

RayAnswers :

Usually the length of time here is half the length of marriage and whatever amount the court sets or you agree to.

RayAnswers :

Here is self help and free forms if you have to file yourself.

Customer:

what if she gets a job now and makes 30,000 a yr, and my ss check is 15,000

RayAnswers :

You also have the option here to split a lawyer to create an agreed divorce here.And you would want to make sure that you retain right to modify spousal support.

RayAnswers :

And it is possible a judge would not order spousal support here because this isn't a great deal of income.

Customer:

thank you for the information, have a good day

RayAnswers :

Here are the factors

RayAnswers :

the District Court will order support from one spouse to the other on a case-by-case basis as follows:


Without regard to marital misconduct, the court will consider all relevant factors when making an award including, but not limited to: (1) The financial status of the party seeking maintenance; (2) The time necessary to gain employment or establish earning capacity (3) The standard of living enjoyed during the marriage; (4) The duration of the marriage; (5) The age and the health condition of the spouse seeking maintenance; and (6) The ability of the spouse from whom maintenance is sought to meet his or her needs while meeting those of the spouse seeking maintenance. (Colorado Statutes - Article 10 - Sections: 14-10-114, 14-10-117)

RayAnswers :

If you have a follow-up question, please remember that there might be a delay between your follow up questions and my answers because I may be helping other clients or taking a break.


 


Please remember to click the ACCEPT button so that I can get credit for the answer. Leaving a BONUS (tip) & POSITIVE FEEDBACK after you accept is very much appreciated.

RayAnswers and other Family Law Specialists are ready to help you