Colorado Divorce Asset Valuation Lawyer

Complex Asset Division | Examples of Divorce Assets

Complex Asset Division

We Wrote the Book on Colorado Divorce and Property Division Law

The partners at McGuane and Hogan are the authors of the Colorado Family Law Practice Series, a detailed work on the practice of divorce with references to Colorado statutes, cases, and other commentary.

Judges, lawyers, and others in the divorce field rely upon this book as the authoritative text on family law and divorce in Colorado.

Our firm has also written a number of publications on a variety of family law topics, such as valuation of assets, child support in high income cases, and custodial parent relocation.

Asset division in divorce is complex and requires an attorney with knowledge of accounting, asset valuation, tax issues, and other financial matters. It also requires an attorney who has experience with family law judges and understands how the courts tend to treat various items of property.

Colorado is an "equitable distribution" state, which means that property acquired during the marriage will be divided in an equitable manner. However, equitable does not always mean that assets will be divided equally. A family law court could award all marital property to one party, if the judge determines it to be equitable under the circumstances, although this result would be highly unusual.

What Is Subject to Division in Divorce?

Property you bring to the marriage, along with gifts and inheritances received during the marriage, are separate property and are yours to keep. However, for separate property to remain separate, the owner needs to keep his or her name on the property and keep the spouse's name off. In addition, separate property and marital property cannot be commingled. Any increase in the value of separate property is marital property and will be divided equitably.

The property divisions can affect how the court views, spousal support. The judge can award more assets to avoid the need for spousal support, or take income producing assets into account in assessing the need for spousal support.

The Division of Marital Assets - What's Involved

At the Colorado law firm of McGuane and Hogan, our asset valuation and division lawyers have handled divorce cases with assets ranging from very modest holdings to hundreds of millions of dollars.

Our attorneys are qualified to provide a comprehensive analysis of:

• Tracing separate property and determining which assets are marital and which assets have remained separate.
• Determining the divorce value of martial assets, which may differ from the book value.
• Determining how much assets have increased in value during the marriage
• Valuing businesses and professional practices.
• Valuing trust assets, stock options, and retirement assets.
• Determining the tax ramifications of various distribution options.

Examples of Marital Assets

Some of the assets that require valuation in divorce case include real property, such as homes, business property, time shares, ranch land, and vacation homes. Evaluation may also be necessary for: banking assets, businesses and professional practices, livestock, retirement pensions and 401k plans, stock options, trust interests, inherited assets, art and antiques, vehicles, wine, sports memorabilia or other collectibles, and debt accumulation.

Division of Marital Debt

Equally important to the division of marital property is the division of marital debt. Debts that were incurred during he marriage are generally going to be classified as marital debts, even if the obligation is in the name of only one spouse and even if you did not know the debt existed. Assigning a debt to one party as part of the divorce proceeding will not keep the creditor from pursuing the other party for payment if the obligation is in joint names. At McGuane and Hogan, our attorneys can evaluate your situation and devise a legal strategy that provides an important level of protection for you in the terms of your divorce case. For example, you may be able to retain more of the marital assets in exchange for paying off some or all of your marital debt. Our lawyers can help you decide what is in your best interest after evaluating your outstanding debt.

Contact a Denver, Colorado, asset valuation lawyer at McGuane and Hogan, LLP.