Colorado is not a community property state. Instead, it follows the principle of equitable distribution. This means that in a divorce, marital property is divided fairly, not necessarily equally. For example, while a 50/50 split is common, a judge may consider factors like each spouse’s economic circumstances, contributions to the marriage, and any misconduct to determine a just division of assets.
The equitable distribution system aims to achieve fairness in property division based on individual circumstances. Historically, many states, including Colorado, favored common-law property systems, which often granted husbands greater control over marital assets. The move toward equitable distribution reflects a shift towards recognizing the equal contributions of both spouses in a marriage. Understanding this system is crucial for individuals navigating divorce proceedings or estate planning in Colorado.
