Equitable Distribution in Colorado Divorce

In the event of a divorce, there are two ways that marital property is divided. They are "community property" and "equitable distribution." There are eleven community property states and 41 equitable distribution states. The state of Colorado employs the "equitable distribution" system when dividing marital assets in a divorce.

The greatest difference between community property and equitable distribution is that in community property states there is a 50-50 split of all assets that were acquired during the marriage. In equitable distribution states, more of the assets are considered marital property, however the split is not an absolute 50-50 and the split depends on a number of factors. The assets are also intended to be divided in a "fair" and equitable fashion.

Equitable distribution is not limited to real estate, it applies to all property including income, real estate, debts, automobiles, savings accounts and all other assets acquired during the course of the marriage. In many, but not all cases, separate property is often times protected in equitable distribution. One way to protect separate property is to have a prenuptial agreement signed before the marriage. There are specific, enumerated factors that are used to determine how assets will be divided in an equitable distribution divorce and they are:

• The age, health and emotional wellbeing of both spouses
• The income and earning ability of both spouses
• Any property either spouse brought to the marriage
• The standard of living that was established in the marriage
• Both spouses current economic situation
• The investment of either spouse as a homemaker
• The financial support by one spouse to the other's education or training

Denver Divorce Mediation Attorney

The benefit to living in an equitable distribution state is that there is more flexibility, however because of the flexible nature; it can also be more unpredictable. If you are getting a divorce in Denver or the surrounding areas, a Denver divorce mediation attorney from Mediation Partners & Divorce Help Center can help give you more information about equitable distribution and how your unique set of circumstances may be affected by it.

Contact a Denver Divorce Mediation Attorney from or firm today for a free consultation!