Equitable Division Of Both Assets And Liabilities
Property division in divorce comes with many questions and concerns. If you are self-employed and your business has a certain value, is your ex-spouse entitled to some of that value? If you bought a car prior to marriage but both parties used it during the marriage, is it automatically yours again after divorce? What about money that you placed into a joint savings account?
Experienced Family Law Counsel
At The Bruntz Law Firm, LLC, we understand your concerns and are here to answer your questions. Our property division attorney can assist with the equitable division of:
- Retirement accounts such as 401(k)s and IRAs
- Bank accounts
- Real property such as houses, vehicles, etc.
- Small businesses
- Other assets
In most cases, property you owned prior to marriage is considered separate property and not subject to division. However, if you placed money in a joint account, you may be said to have commingled that property, making it subject to division.
Dividing Marital Debts In Colorado
Many divorcing couples must also deal with the division of debts such as mortgages and credit card balances. In general, debts accumulated before the marriage will still be your responsibility after divorce. Debts accumulated during the marriage will usually be divided between the parties. One common exception to this is student loans, which tend to fall to the party who incurred them. Plus, any debts associated with property tend to follow that property. (If you get the house, for instance, you will likely be responsible for the mortgage.)
Contact The Bruntz Law Firm, LLC
To learn more about dividing business investments or any other asset or debt, arrange a free initial consultation with our divorce lawyer today. Call our Parker or Broomfield office at 720-837-2960 or contact us by email.