Negotiation Vs. Litigation
You can handle your property division case in one of two ways:
- Draft an agreement with your spouse. If you're filing for an uncontested divorce, your property division arrangement will likely be contained in your divorce agreement. Even if you're filing for a contested divorce due to other disagreements, you can still draft an agreement with your soon-to-be-ex stating how you'd like to divide marital property.
- Litigate the property division process in court. If you disagree with your spouse on how to distribute marital property, you'll probably need to litigate your case in court. This involves providing the court with an exhaustive inventory of all separate and marital property you own. The court may implement a temporary order determining how you will share property while the divorce is ongoing. After hearing both party's cases, the court will determine what kind of property division would be equitable and incorporate that arrangement into the divorce decree that finalizes the divorce.
In litigated property division cases, courts often consider the following factors when determining what would constitute an equitable distribution of property:
- The age and health of each spouse;
- The property each spouse owns;
- Each spouse's personal income and financial stability;
- The employability of each spouse and the roles they played during the marriage;
- Whether either spouse engaged in behavior such as domestic violence or substance abuse that could impact the divorce;
- Whether either spouse attempted to hide assets during the property division process;
- Whether other court orders, such as alimony, child support, or child custody have been implemented;
- Any other factors the court considers relevant to the case.
Due to the number of factors that can impact a property division case, having a Colorado Springs lawyer by your side that you can trust to help you find the best path forward in your case is recommended.
Get in touch with our property division attorneys in Colorado Springs filling out this online form or dialing (719) 212-4227.
What if My Spouse Hides Assets?
Unfortunately, not all spouses wish to be transparent during the property division process. Sometimes, a party will attempt to hide assets or purposefully avoid reporting separate property they own to the court. Individuals typically attempt to hide assets because it will help them obtain a more favorable outcome in the property division dispute.
Hiding property during a property division case is a violation of fiduciary duty. During property division cases, both parties have an obligation to each other to avoid selling, tampering with, or destroying marital property. Additionally, the parties must be completely honest when disclosing separate and marital property holdings to the court, so the court can make the best decision for both parties.
Some common ways individuals attempt to hide property include:
- Failing to report certain property holdings to the court;
- Underreporting their own personal income;
- Buying items, such as art that they then hide from the court with the intent to sell those items and make their money back post-marriage;
- Taking out "loans" from friends that they won't have to pay back to make it appear as though they are less financially stable than they actually are;
- "Selling" assets to friends or funneling income sources such as business revenue through friends to make themselves appear less wealthy than they are.
If you believe your spouse is attempting to hide property from you, there are a few things you can do:
- Speak with your attorney. They can put in a request for the other party to disclose their personal assets to you and your lawyer. If your spouse fails to disclose an asset you know they possess, this could lead to further investigation and actions taken to prevent them from hiding property.
- Hire a third-party professional such as a forensic accountant. These individuals can help you identify hidden assets by meticulously analyzing your spouse's property holdings, financial history, and spending habits.
As you navigate your property division case, try to keep close tabs on your bank accounts to monitor any spending your spouse engages in. You should also make copies of important documents, such as mortgages, vehicle licenses, payment plans, and proof of ownership for other property you own with your spouse.
Not only will these documents verify your truthfulness to the court, they can also help you prove to the court that your spouse is hiding assets if they fail to report something that you have an ownership license for.
Why Choose Us
When it comes to property division in family law, our team at the Law Office of Greg Quimby, P.C. stands out for its commitment to finding positive solutions tailored to your unique situation. Led by Attorney Greg Quimby and his daughter, Attorney Erica Vasconcellos, our firm brings decades of combined experience to the table.
We understand that navigating property disputes can be emotionally taxing, which is why we focus on resolving conflicts efficiently and effectively. Each member of our team is dedicated to providing personalized attention, ensuring that your concerns are heard and addressed throughout the process.
Greg Quimby’s diverse background—combining experience in law enforcement, accounting, and litigation—equips him with a unique perspective on family law matters. His ability to empathize with clients, paired with his extensive legal knowledge, ensures that you receive not only sound legal advice but also compassionate support. Erica Vasconcellos shares this commitment to client advocacy, enhancing our firm’s capability to address the complexities of property division. Together, we strive to protect your rights and achieve a fair outcome, allowing you to move forward with confidence.
At the Law Office of Greg Quimby, P.C., our Colorado property division attorneys can help you navigate the property division process and find the best path forward in your property division case.
For a free consultation, contact our property division lawyers in Colorado Springs at (719) 212-4227.
