ASSET & DEBT DIVISION

Often, the most complicated matter in a divorce proceeding is the division of marital assets and debts. Contention between the parties of what should be considered marital assets and which should be personal is rarely agreeable.

Whether your balance sheet is relatively straight forward or extremely complicated, it is advised that you consult an attorney experienced in divorce and asset division.

Our firm’s sole practice isfamily law, specializing in divorce withasset and debtdivision.

We havethe resources necessaryto analyzeboth parties completefinancialsituation, avital steptowards achieving an equitableoutcome in your divorce. Our team will work toascertain what assets are considered marital and those that areseparate,along withthe proper valuation of those assets subject to division in a divorce proceeding.

What assets are considered marital?

Assets acquired during the marriageare usually considered marital property and subject to division. This includes bank accounts, real property such as the family home and vacation properties, automobiles, retirement accounts, stocks, bonds and ownership in any business.

Assets and property acquired through gift or inheritanceare generally consideredseparate or non-maritaland therefore not normally subject to asset division in a divorce proceeding.

Generally, property owned by one party prior to the marriagewill be valued based on the increase in asset value since the date of themarriage. For example, one party owned a home that was worth $100,000on the date of themarriage. At the time of the divorce the same home is worth $150,000. In this case, $50,000 would be subject to asset division.

Retirement accounts are considered marital property.If the account was held prior to the date of marriage, any increase in value from the date of marriage will be subject to asset division.

Yes, the total value of any ownership, whole or partial,of a businessis considered marital property. If the business was owned prior to the marriageany increase in value from the date of marriage will be subject to asset division by the court.

In most situations, personal debt, including credit cards, are marital debt and subject to asset and debt division in a divorce proceeding.
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THE LAW OFFICES OF LISA E. FRAZER, LLC.

936 East 18th Avenue
Denver, CO 80218
303-861-7717

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