What is "Equitable Division of Property"?
Often people hear the term "equitable division", and they think that phrase means an equal (50/50) division of property in a dissolution of marriage proceeding. However, the courts are vested with discretion in dividing up martial property and distributing it among the parties. Equitable division, therefore, is not a guarantee of an even 50/50 split among the parties. A court may divide and distribute property as it deems just based on a variety of factors including, but not limited to one spouse's foregone income or educational opportunties, one spouse's contribution to raising the chidren of the marriage, and/or his or her ability to support himself or herself after the dissolution, etc. If a court reviews a property award, it will not be set aside simply because the division is not 50/50, rather there must be a showing that the award is inequitable. Accordingly, parties to a dissolution of marriage proceeding should recognize that when they hear the term "equitable division", this means what the court deems just, not simply a 50/50 split.
Located in Denver (303) 299-9484 and Fort Collins (970) 472-1838, The Harris Law Firm is Colorado's largest family law firm. Focusing exclusively on Colorado Divorce and Colorado Child Custody and Support, the firm's philosophy is to work with you to resolve your legal matter in the best way possible. When you consult with one of our attorneys, the expert legal advice you receive will help you understand your rights and options according to Colorado law. And when you retain this AV rated firm, the many years of combined experience provided by your legal team will ensure that the resolution of your case is handled in the most organized, timely, cost efficient and effective manner possible. If you want to limit conflict and protect your rights, call us today to schedule a private consultation in our Denver or Fort Collins offices. Call us at 303 299 9484 or send us an email at firstname.lastname@example.org.
0 Comments, 1359 Views