How does an attorney help protect your assets in a divorce?

| Sep 12, 2019 | Firm News

When a marriage fails, and the divorce process is started, many people wonder how the money, belongings and assets will be divided when they leave their partner. Colorado is an equitable distribution state which means that marital property is split in an equitable, not necessarily equal, manner.

What this means for you in divorce is that a judge will look at the incomes of each partner, what each contributed and the length of the marriage. Divorce attorneys can help you navigate this process and obtain a fair result.

Ways an attorney can help protect your assets

  • Check for money and debts: Your partner may have opened separate accounts to deposit money in which they had not told you about. An attorney may be able to find such hidden money and make sure it benefits you. They may also be able to find debts your partner accumulated without informing you. Attorneys will look over bank statements, tax returns and more.
  • Propose a settlement plan: After examining all a couple’s assets, your attorney can create a settlement plan that is beneficial to their client, but also fair. Your partner’s attorney will also create one and if a settlement plan is agreed upon you maybe be able to avoid more drawn-out litigation.
  • Advocate for spousal maintenance: If you or your former partner needs financial support after a divorce, an attorney can advocate for your needs after separation.
  • Avoid mistakes: Navigating the divorce process can be difficult, but divorce attorneys are experienced with the process and can make sure that mistakes aren’t being made. This is especially important when dividing your assets. The agreement needs to be set in stone to prevent any issues later.

A divorce attorney is there to help you through your divorce and give you professional advice throughout. When it comes to separating your finances, you don’t want any slip-ups.