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Identifying all types of marital property

October 9, 2019 | Firm News

Going through a divorce can be emotionally overwhelming, especially when faced with a myriad of details that must be negotiated in the final divorce settlement. One of the most difficult topics to settle may be separating marital property. In Colorado, and in many other states in the nation, marital property is divided in a fair and equitable manner, as determined by the judge presiding over the case. It is critical that you understand what marital property entails so you can be sure to get everything you are entitled to in the divorce settlement.

You may think of the family car, family home, furniture and bank account contents when listing marital property. Yet, there are other, less common items that are marital and are therefore eligible for division in the divorce settlement. These include the following:

  • Expensive collections, such as cars, antiques, art, rare coins or wine
  • Intellectual property, such as patents, trademarks and copyrights
  • Travel miles and loyalty points
  • Lottery ticket winnings
  • 401k policies, term life insurance policies, stocks and retirement plans
  • Memberships to exclusive golf courses and country clubs

In addition, any gifts given to each other during the marriage are divisible in the divorce settlement as well. If one spouse let a third-party borrow money or property during the marriage, both parties are entitled to half of that money or property once it is repaid. It is important to keep separate property apart from marital property. Once the two are mixed, separate property may be considered marital and then distributed in the final divorce decree.

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