Divorce at Altitude: A Podcast on Colorado Family Law

Splitting Personal Property in a Colorado Divorce | Episode 81

January 31, 2022 Ryan Kalamaya & Amy Goscha Season 1 Episode 81
Divorce at Altitude: A Podcast on Colorado Family Law
Splitting Personal Property in a Colorado Divorce | Episode 81
Show Notes Transcript

Ryan Kalamaya explains how personal property such as furniture, sports equipment, electronics and the like are divided in a Colorado divorce.

What is Divorce at Altitude? 

Ryan Kalamaya and Amy Goscha provide tips and recommendations on issues related to divorce, separation, and co-parenting in Colorado. Ryan and Amy are the founding partners of an innovative and ambitious law firm, Kalamaya | Goscha, that pushes the boundaries to discover new frontiers in family law, personal injuries, and criminal defense in Colorado. 

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Ryan Kalamaya (1s):
Welcome to Divorce at Altitude, a podcast on Colorado family law. I'm Ryan Kalamaya each week, along with my business partner and cohost Amy Gosha or an expert, we discuss a particular topic related divorce or co parenting in Colorado. In addition, we have created a short series of lessons that will take you through the legal process of divorce and answer your questions from simple to complex divorce. Isn't easy. The end of a marriage, especially when children are involved, brings a great deal of loss and change. We hope these practical tips and insights will help you On your journey to a new and better life.

Ryan Kalamaya (43s):
This episode is about personal property and how it is divided and addressed in a color or a divorce. Now, if we go back to our Eric Wolf hypothetical divorce story, you'll recall that after Melanie informs him, that she's hired a divorce lawyer, he leaves and he goes skiing and he sits on the chair lift and he looks at his iPhone and has a series of questions. One of those questions is what happens with the house. Undoubtedly, he's also going to think about what happens with all the stuff in that house, the iPhone, the skis that he looks down on from the top of the chairlift and he, the furniture in the house that his personal property. So how is it divided?

Ryan Kalamaya (1m 23s):
Well, most divorce lawyers will advise their clients that it's best to address that on an in-kind basis. So an example of an in-kind division or in kind basis is Eric and Melanie both may have iPhones. Now there may be a difference between an iPhone 11 and an iPhone 12, but it doesn't make sense to pay divorced lawyers, hundreds of dollars an hour, to argue about the difference in the value between Eric and Melanie's I-phones. And furthermore, if Eric has a very expensive, nice mountain bike, that might be worth as much as the couch and the bed that is at Melanie's house or the marital house, and oftentimes people overestimate the value of the personal property.

Ryan Kalamaya (2m 10s):
So they will think back to how much they paid when in reality, most divorce lawyers and judges, most importantly, will look at personal property in value it based on a garage sale price. So think about all the things that are in a divorce, and it may be your divorce and the personal property and having a big yard sale and how much that would yield for each particular item. Probably not as much as you were hoping. So it makes sense, even if you can't agree on the color of the sky to go through and figure out who gets what you can use spreadsheets, you can also take pictures of things as you or the other person moves out of the house.

Ryan Kalamaya (2m 52s):
And you can address that at the conclusion or at some point when it makes sense. And ultimately it may come to that. You can't reach an agreement. So what happens in that circumstance, and that may be because there could be a wine collection that could be a substantial enough where you need to have some Lea or someone that is a personal property. Appraiser come to value. The various personal property at issue could be an art collection. There could be a whole host of different personal property items that are worth arguing over, and you can go to court on those other things. There's also people that will serve as personal property arbitrators they'll show up when the U haul truck comes and they'll figure out who gets what I've also seen it, where there's a coin flip and each person gets to pick based on a coin flip and someone would go first.

Ryan Kalamaya (3m 45s):
So Eric would decide that he values his mountain bike, Melanie. On the other hand, she might value that couch that they bought just six months ago. So on and so forth, there are a whole host of different options, but that hopefully gives you an idea of how Eric and Melanie, or you may be dealing with personal property in the Colorado divorce. Thanks for listening or watching this short lesson on the Divorce at Altitude podcast. If you found this helpful, please leave a review or share with a friend. It does help for others that are going through or thinking about a divorce in Colorado. If you want to find out more information, please visit Kalamaya dot law or Divorce at Altitude dot com.

Ryan Kalamaya (4m 26s):
That's K a L a M a Y a.law. Remember, this is educational information. It's not intended to be legal advice. Please consult with an attorney about particulars of your case. We're happy to answer questions. Feel free to give us a call at nine seven three one five two three six five.