How Will The Court Divide My Property?

In Colorado, marital property refers to all assets and debts acquired by either spouse during the marriage, regardless of which spouse holds the title or legal ownership of the asset or debt. Marital property includes, but is not limited to, real estate, vehicles, bank accounts, retirement accounts, investments, and personal property. In Colorado, marital property is subject to division in the event of divorce.

Separate property, on the other hand, is property that is not considered marital property. Separate property is typically property that was owned by one spouse before the marriage, acquired by one spouse through inheritance or gift, or acquired after the marriage using separate property funds. In Colorado, separate property is not subject to division in the event of divorce.

It is important to note that in Colorado, there are certain situations where separate property can become marital property. For example, if separate property is commingled with marital property, such as if one spouse uses separate funds to purchase a marital asset, the separate property may become marital property. Additionally, if the increase in value of separate property during the marriage is due in part to the efforts or contributions of the other spouse, the increase in value may be considered marital property.

Overall, the distinction between marital and separate property in Colorado is important in determining how assets and debts are divided in the event of divorce. It is important to consult with a knowledgeable attorney to understand how these laws may apply to your specific situation.