One of the primary concerns of any divorce is protecting one’s financial rights and assets, and if you have real estate holdings, the matter is that much more complex. Often, a couple’s home is their most significant asset, and this can amount to considerable challenge when it comes to the division of marital assets in a divorce. If, however, you have a real estate portfolio, you can expect the financial complications to be that much more pronounced, and you need a dedicated Colorado divorce attorney in your corner. At Johnson Law Group (text 720-730-4558 or calls 720-463-4333), we have extensive experience successfully guiding cases like yours – involving real estate portfolios and divorce – toward advantageous outcomes, and we are here for you, too.
To begin, it is important to know how the division of marital property is addressed in the State of Colorado. Colorado’s Family Code guides these determinations, and the basics include:
Because Colorado is an equitable distribution state, your marital assets will be divided between you in the divorce process in a manner that the court considers equitable – or fair – given the circumstances at hand. High assets and real estate ownership tend to make this already complex matter that much more so.
If you are a real estate investor – or own considerable real estate – prior to marriage, it is often a good idea to directly address the matter of keeping these assets separate prior to marriage. Toward this end, you have the following two basic options:
While no one enters marriage with thoughts of divorce, being proactive when it comes to protecting your real estate is a sign of prudence – not a sign that your marriage is doomed or that you are not fully invested. If, however, you are currently facing a divorce and do not have a premarital agreement or trust in place, the knowledgeable Colorado divorce attorneys at Johnson Law Group have a wealth of experience helping clients like you resolve their concerns related to real estate portfolios and divorce favorably.
If you owned some or all of the real estate in your portfolio prior to marriage – and you kept the assets disentangled from your marital assets (which can be a high bar) – the court will likely deem these properties separate assets. Any increase in their value over the course of your marriage, however, will be marital – and will need to be divided between you fairly upon divorce. If, however, you obtained your real estate holdings while you were married (other than as a gift or through an inheritance in your name only), they will be considered marital, and you can expect the division of these assets to be challenging at best.
The division of marital assets is one of the most hotly contested terms in any divorce, and when those assets include a real estate portfolio, there is that much more to contest. All the following can be complicating factors:
There are few things that complicate a divorce more than substantial assets like real estate holdings.
If you are heading toward a divorce that involves a real estate portfolio, there are some important steps you can take to help protect your rights, including:
If the matter of real estate portfolios and divorce is on your mind, it is time to reach out to the capable divorce attorneys at Johnson Law Group. Our accomplished legal team takes great pride in our impressive track record of successfully protecting the financial rights of clients like you. If your divorce involves a real estate portfolio – or any other significant assets – we are on your side and well prepared to help. To learn more, call us at 720-463-4333 or text with us at 720-730-4558 today.