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Ellen, Lawyer
Category: Family Law
Satisfied Customers: 36714
Experience:  25 years of experience helping people like you.
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I have been married for 9 years own my own business and house

Customer Question

I have been married for 9 years own my own business and house my husband owns property and his own business how will things be split
Submitted: 5 years ago.
Category: Family Law
Expert:  Ellen replied 5 years ago.

WebLaw :

*Due to rules of your state bar or mine, nothing herein is intended as legal advice, only intended as general information to better help yourself.*

WebLaw :

Colorado is an equitable distribution state. This means that in the event of a divorce the "marital property" is "equitably" divided by the court. Property that is "separate property" is not divided by the court.

Separate property (not subject to property division) includes inheritances, property owned before the marriage, personal injury awards, and gifts given to only one spouse.

Marital property (subject to equitable distribution) is basically anything that is not considered to be separate property and most income and appreciation on separate property that occurred during the marriage. Income attributable to the efforts of either spouse is marital property.

An "equitable distribution" means fair, not equal although it often is. The court in determining what is fair looks at the duration of the marriage, the assets and liabilities of the spouses, the monetary and nonmonetary contributions of each spouse and any other factor that the court expressly finds to be relevant and equitable.

WebLaw :

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