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Property and Debt Division

There are few things worse for both parties involved than a long, drawn-out battle over property division in divorce. A prenuptial agreement may clarify ownership of property when the time comes for a divorce, but some prenups are successfully challenged.

An appropriate division of marital assets in a divorce may be made more complicated by complex factors such as:

  • Business Ownership
  • Appreciation, during a marriage, of real estate brought into the marriage by one of the spouses
  • Gray areas or blurred boundaries between separate property and marital property
  • Differences between the fair market value of real estate at the beginning of the marriage and at the time of the divorce
  • Emotional attachments to particular assets, including home furnishings, recreational equipment, vehicles, pets and other prized possessions
  • Economic aspects of mutual parenting such as funding a child’s higher education
    Critical Questions Often Arise Concerning the Property Division Part of a Divorce

Critical Questions Often Arise Concerning the Property Division Part of a Divorce

Who will keep the marital home — and remain responsible for the rest of the mortgage? Who will keep a recreational vehicle, a vacation home, real estate investments, stocks and bonds and collectibles that have been part of the shared life of a married couple? What about frequent flyer miles, life insurance benefits, timeshares and sports memberships? And what about debts? What happens when there has been a dissipation of marital assets by one spouse or the other, reflected in money spent or debts incurred on gambling, illegal drugs or extramarital affairs? What about commissions and bonuses, retirement accounts and deferred compensation? Questions such as these can drag down even a “friendly” divorce in a hurry, resulting in soaring legal costs. Yet the questions must be answered. Rarely is either party fully satisfied with the outcome of property division. Compromise is an inevitable part of the process.

Mediation or Collaborative Law May Offer Solutions

An experienced divorce attorney can advise you on ways to resolve contentious property division issues expeditiously. Lynn Landis-Brown has been the chief operating officer for several businesses. She understands the importance of the bottom line in complex financial calculations and transactions. She advises clients to avoid court if possible in most cases. Mediation, collaborative law methods and other forms of alternative dispute resolution are often much more in line with the interests of an individual — or both spouses — in the processes leading up to divorce.

Property Division Attorney in Colorado Springs • Division of Marital Debt and Assets

For the caliber and quality of legal counsel that you require for your Colorado divorce, rely on the guidance of an experienced, knowledgeable attorney. Contact our Colorado Springs law offices to discuss distribution of debts and assets with an experienced family law and divorce lawyer.

Lynn Landis-Brown, P.C., represents clients in the Pikes Peak area, Front Range area, and Rocky Mountain area of Colorado, including Colorado Springs, Castle Rock, Monument, Woodmoor, Broadmoor, Manitou Springs, Fort Carson, Fountain, Cimarron Hills, Black Forest, Canon City, Woodland Park, Cripple Creek, Victor, Parker, Pueblo, Peterson Air Force Base, Schriever Air Force Base, Cheyenne Mountain Air Force Station; United States Northern Command (NORTHCOM), Northern American Aerospace Defense Command (NORAD), United States Air Force Academy (USAFA), El Paso County, Teller County, Douglas County, Adams County, Elbert County and Fremont County.