In general, the more assets that you have to divide in a divorce, the more complex the negotiation can be. Having multiple homes as a married couple can present significant problems in the negotiation process. This is especially true if you have one primary home and multiple vacation homes out of state or overseas.
If you are divorcing in Colorado, it is important to note that the state recognizes equitable distribution when it comes to asset division in a divorce. This means that marital assets will not simply be subject to a 50/50 split if the court is making the ruling. Instead, the divorce courts will consider many different factors relating to the marriage in order to decide what seems fair and just.
How can I negotiate with my spouse regarding dividing the properties?
The best thing that you can do to resolve asset division issues is to maintain honest and healthy communication with your divorcing spouse. After careful reflection on what you think would be a fair and just compromise, you may want to talk to them and propose a way to divide the properties.
You may want to start these conversations informally. However, many people decide that they would like to have these conversations mediated or facilitated by an expert. By keeping conversations open and fluid, you will have the ability to prevent hostile behavior.
What factors will the court consider when dividing assets?
If you need the court’s assistance with dividing the marital assets, it is important that you understand what decision they are likely to make beforehand. The courts will evaluate the existence of marital assets and debts, and place a monetary value on them.
The courts will then look into the details of the marriage and the circumstances of the divorce. They will consider which spouse contributed most to the acquisition of assets or debts. They will also consider the non-financial contributions that each spouse made to the marriage.
If you want to make sure that you get a favorable outcome regarding the division of your properties, it is important to be solution-focused. By understanding the motivations and wishes of your divorcing spouse, as well as your rights under the law, you are likely to be successful.