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Division of Property

Valuing Assets and Debts

An important part of the divorce process is the division of assets and debts such as your home, cars, retirement accounts and businesses. However, before property can be divided, its value must be determined. While some couples are able to come to an agreement on the value of assets and debts, others may require assistance with the process. The Fort Collins law firm of Leah Bishop, L.L.C., has years of experience assisting clients throughout Colorado with the complex process of valuing assets and debts in divorce.

Assisting You With Complex Property Valuation

In Colorado, all marital property and property that has increased in value that was owned before the marriage is subject to equitable distribution during a divorce. Marital property includes all assets or debts that were acquired during the marriage. Once you and your spouse have identified all of your marital property, its value must be determined to ensure that your property settlement is fair.

Working with valuation experts, our lawyers can assist you in determining the value of:

Your home: There are several ways to determine the value of your home. A realtor can perform a market analysis, which involves looking at the sale of similar homes in your area over a specific time frame. Another option is to hire an appraiser to assess the value of your home. The tax value of your home is often the least accurate way to determine its actual value.

Vehicles: Kelly Blue Book is an excellent resource for determining the value of a vehicle. If you or your spouse owns collectible vehicles, it is best to hire a professional to determine their value.

Retirement funds: Valuing retirement accounts such as 401(k)s, IRAs, military retirement accounts and pensions is a complex and highly technical matter. These funds are subject to penalties and taxes that reduce their value. They also may have complex rules governing how they can be divided. We will work with financial experts to ensure that your retirement accounts are valued and divided properly.

Businesses and partnerships: Correctly valuing a business involves complex calculations best left to a financial professional. We will work with business valuation experts to ensure that your business is valued accurately.

Contact a Larimer County Property Division Attorney

To schedule a consultation with Leah Bishop, L.L.C., contact us online or call 970-224-5555.