Division of Property and Debt
In a divorce or legal separation, the Court will divide any marital property and debt. When the Court divides marital property and debt, the Court will attempt to divide the property equitably. This does not mean that everything will be divided in half. This means that the Court will try to divide everything fairly.
Division FAQs
What is property?
Property is a thing that someone owns. Property can be tangible (physical) items like houses, cars, appliances, and household items. Property can also be intangible (non-physical) items like stocks and bonds.
How does the Court know what property and debt we have?
You and your spouse will each be required to fill out a form and tell the Court what property and debt you have. This form is called a “Sworn Financial Statement.”
In addition to this form, you also must disclose, or share, financial documents with the other party. These documents include but are not limited to:
- tax returns for the last 3 years;
- the last 3 months of bank statements;
- income documentation including paystubs;
- health insurance documentation;
- personal and joint debt; and
- childcare cost documentation.
All of the required financial disclosures are listed on the state’s website.
It is likely that you do not have documents in all the categories listed on the Form. That is fine. You just need to disclose the paperwork for the account(s) that you do have. Copies of the financial documents should be mailed to your spouse or their attorney if they have one.
You must also complete a Checklist of Mandatory Financial Disclosures and check the corresponding boxes to the financial disclosures you provided. You must file the checklist with the Court and mail a copy to your spouse or their attorney if they have one. You do not file your financial disclosures with the Court, except for the Sworn Financial Statement.
I don’t want to send my ex all my personal financial information. Do I have to?
Yes, financial disclosures are a mandatory part of every divorce case. You can black out sensitive information like your social security number or account numbers, just leave the last four digits.
My ex is refusing to complete the financial disclosures; what can I do?
You can file a “Motion to Compel” if your spouse fails to make these financial disclosures. A blank copy of this motion can be found here: https://www.courts.state.co.us/Forms/PDF/JDF%201105%20Motion%20to%20Compel%20Under%20Rule%2016.2.pdf
My spouse cheated on me. Will I get more property because they betrayed our marriage?
No, when the Court is trying to determine what is fair in division of debts and assets, the Court will not look at bad behavior of either party during the marriage.
My spouse refused to work during our marriage and contributed nothing to our marriage. Can I get more marital property because of this?
It depends. The Court will consider the contribution of each spouse to the acquisition of marital property, including the contribution of a spouse as a homemaker. If a spouse is unemployed due to injury, disability, or illness, the Court will likely not punish them for not contributing to the acquisition of marital property.
I was a stay-at-home parent during our marriage and my spouse is threatening that I won’t receive any property in the divorce. Is this true?
No. The Court will consider the contribution of each spouse, including the contribution of a spouse as a homemaker.
I bought a house while we were married, but it’s only titled in my name. Will I get to keep all of it?
Probably not. Generally, property purchased during the marriage is considered marital, regardless of how the property is titled. There are limited exceptions to this rule—for example if property is obtained by inheritance or gift to just one spouse.
My spouse bought a house two years before we got married and it has always just been in his name, but I contributed to the house during our marriage. Will I get any compensation for this?
Generally, yes. The appreciation (or increase in value) during the marriage is marital (joint) even if the property itself is technically separate. In this situation, you would need to show the Court what the property was worth when you got married and what it is currently worth. That increase in value would be marital and subject to division during the divorce.
My spouse had a lot of debt before we got married. Will I be responsible for this?
Generally, no. Debt from before the marriage is the separate responsibility of the person who incurred that debt. However, if you have put your spouse’s debt in your name, like through a debt consolidation plan, then you may be responsible for it. Or if the debt increased during the marriage (for example, the balance on a credit card your spouse had before the marriage got larger during your marriage), then you may be responsible for a portion of that increase.
My spouse ran up a lot of credit card debt during our marriage, but I had no idea they were doing this. Will I still be responsible for this debt?
It depends. If your spouse incurred (created) credit card debt during the marriage to support your family (for example they used the credit card to buy things for your home or children) then you may be responsible for some of this debt even though you didn’t know about it. However, if your spouse incurred (created) this debt for a reason unrelated to your family (for example buying expensive jewelry for someone else) then you may not be responsible for this debt.
My spouse has a 401K through their employer. Can I get any portion of that?
If your spouse contributed to a retirement plan during your marriage, the Court can divide it between the two of you. Retirement plans have to be divided by special Court Orders called Qualified Domestic Relations Orders. These orders are complex and technical. If possible, you may want to hire an attorney to help you draft this order. Some retirement plans have short deadlines for the Qualified Domestic Relation Order so you should research this before the Court issues your divorce decree.
The Court ordered that my spouse pay a credit card debt that’s in my name. My spouse is not making this payment and I’m getting collection calls. What can I do?
Unfortunately, even if your spouse is ordered to pay a credit card in your name, the contract for the debt remains between you and the credit card company. So non-payment of the credit card will affect your credit score and the credit card company may initiate collection actions against just you.
You can file Motion and Affidavit for Citation for Contempt of Court against your spouse for failure to comply with the Court order to pay the credit card. Additionally, if you are sued by the credit card company, you can file to bring your spouse into that case (interplead).
I have gotten a divorce, but my ex-spouse refuses to transfer title for property that I was awarded in the divorce. What do I do?
A party in a divorce can still get property that she or he was awarded by the Court, even if the other party does not or refuses to sign it over. The clerk of the court can be authorized to sign the title transferring this property. To do this, you must file a written Motion with the court and ask that the clerk of the court be authorized to sign the document in question. The courts have more instructions and the forms you will need.