An Attorney Devoted to Equitable Division of Property
Few things are as complicated in divorce as dividing property. For couples with a high net-worth, it can mean dividing multiple properties, businesses, stocks, pensions and even substantial debts. For couples of more modest means, equitable property division is no less important: a house, car, retirement benefits and much more can be at stake.
As a family law attorney for more than 20 years, I have substantial experience in successfully representing divorcing clients in Colorado Springs, Colorado, and surrounding communities, including our many area military bases.
Call me at 719-633-1191 for a confidential discussion of your property division concerns. You can also contact me.
Colorado is a marital property state. Marital property includes all property acquired in the marriage except through gift or inheritance. Considerations of property appreciation of equity in property owned by a party before the marriage are also made in divorce cases.
Typically, other assets are subject to equitable division in divorce. These assets include the following:
- Vacation homes
- Military retirement: This asset important to military families is divisible between spouses in a military divorce. If 10 years of marriage are concurrent with 10 years of service, military authorities will divide the pension according to a time rule formula.
- SBP (survivor benefit plan): A federal program for military members that provides survivor benefits.
- Private pensions/retirement accounts: These are divisible regardless of whose name is on the account; a crucial piece of property for government and private employees.
- Small businesses: For small business owners, this may require employing an expert to value the business and then creating a plan to divide the property equitably. For many divorcing couples, this will mean one party will buy out the other.
In most situations, you will get better, faster results at a lower cost if I negotiate a settlement of property division issues or settle the disputes in mediation. For some other clients, I can best preserve your interests in vigorous litigation.
I'm James L. English, P.C., an experienced divorce lawyer in Colorado Springs. Call me at 719-633-1191 or contact me online.