ColoradoDivorceMediator.com Low Cost Compassionate Divorce Mediation for Colorado

Providing low-cost mediation services for separating and divorced families

Division of Assets, Parenting, Child Support, and Maintenance. We handle court-ordered mediations.

Understanding Colorado JDF 1115: A Guide to Dividing Assets and Property

Dividing assets and property during a divorce can be one of the most challenging parts of the process. In Colorado, the JDF 1115 – Division of Property and Assets is a critical document that helps couples outline how their property, debts, and other financial matters will be divided. This agreement is an essential step in finalizing a divorce and ensuring both parties have clarity on their financial future. (Download JDF 1115) (Jump to Items Needed To Prepare)

What is JDF 1115?

JDF 1115 is the legal form used to formalize the division of marital assets, debts, and property during a divorce in Colorado. It is part of the separation agreement submitted to the court for approval. The court uses this document to determine whether the proposed division is fair and equitable under Colorado law.

What Does JDF 1115 Cover?

The form is designed to address the following key areas:

  1. Division of Marital Assets

    • Real property (e.g., homes, land).
    • Personal property (e.g., vehicles, furniture, jewelry).
    • Financial assets (e.g., bank accounts, retirement accounts, investments).

  2. Division of Debts

    • Joint debts (e.g., mortgages, credit card debt, loans).
    • Allocation of responsibility for paying off debts.

  3. Spousal Support (if applicable)

    • Whether one party will provide financial support to the other, including the amount and duration.

  4. Other Financial Agreements

    • Handling of taxes, insurance policies, and other financial obligations.

Why is JDF 1115 Important?

  • Clarity and Transparency: This document provides a clear record of how assets and debts are divided, reducing the potential for future disputes.
  • Court Approval: Colorado is an equitable distribution state, meaning the court ensures the division is fair, though not necessarily equal. The JDF 1115 helps demonstrate that the division meets this standard.
  • Binding Agreement: Once approved by the court, the separation agreement becomes legally binding, holding both parties accountable to its terms.

Steps to Completing JDF 1115 (See below for checklist of items)

  1. Identify All Marital Assets and Debts

    • Create a detailed inventory of everything acquired during the marriage, including property, savings, and liabilities.
    • Note: Separate property (e.g., assets owned before marriage or received as a gift/inheritance) is typically excluded.

  2. Determine the Value of Assets

    • Assign fair market values to all marital property.
    • For complex assets like businesses or retirement accounts, consider hiring a professional appraiser.

  3. Negotiate an Agreement

    • Work with your spouse to decide how assets and debts will be divided.
    • If you cannot agree, mediation or court intervention may be necessary.

  4. Complete the Form

    • Clearly list each asset, its value, and who will receive it.
    • Specify how debts will be paid and by whom.
    • Include details about spousal support if applicable.

  5. Submit the Form to the Court

    • File JDF 1115 along with other required divorce documents.
    • Both parties must sign the agreement before submission.

  6. Court Review and Approval

    • The court will review the agreement to ensure it is equitable and in compliance with Colorado law. If approved, it becomes part of the final divorce decree.

Tips for Success

  1. Be Thorough

    • Incomplete or vague agreements can lead to disputes. Include all relevant details, such as account numbers, property descriptions, and payment timelines.

  2. Consult Professionals

    • A family law attorney or financial advisor can provide valuable guidance, especially for high-value or complex assets.

  3. Focus on Fairness

    • Remember that Colorado law requires an equitable division, not necessarily a 50/50 split. Aim for a division that both parties can accept.

  4. Use Mediation for Disputes

    • If negotiations stall, mediation can help facilitate a resolution without the need for a court hearing.

Common Challenges with JDF 1115

  • Hidden Assets: Ensure full disclosure of all marital assets to avoid complications.
  • Emotional Conflicts: Property division can be contentious. Stay focused on practical solutions rather than emotional attachments.
  • Complex Financial Assets: Dividing retirement accounts or businesses often requires expert assistance to avoid tax penalties or valuation errors.

Final Thoughts

JDF 1115 plays a crucial role in finalizing your divorce and setting a clear path forward for both parties. Taking the time to complete this form accurately and fairly can save significant stress and conflict in the long run.

If you’re navigating the complexities of property division, Denver Mediation Services can help. We offer professional mediation to help couples reach equitable agreements that work for both sides, ensuring a smoother divorce process.

ITEMS NEEDED TO PREPARE FOR a JDF-1115 MEDIATION 

Please provide as much information as you can. For bank and other account numbers etc, just use the last 4 digits for identification.

1. Personal Information

  • Full names of both parties.
  • Date of marriage and date of separation.
  • Case number for the divorce proceedings.
  • Contact information for both parties.

2. Real Property (Homes, Land, etc.)

  • Address of the property.
  • Current market value (provide an appraisal if available).
  • Outstanding mortgage balance, lender information, and account number.
  • Ownership details (joint or individual).
  • Proposed disposition (e.g., sell and split proceeds, one party keeps the property, or transfer ownership).
  • Details of any equity buyout if applicable.

3. Vehicles

  • Make, model, and year of each vehicle.
  • Vehicle Identification Number (VIN).
  • Current market value (Kelley Blue Book or similar source).
  • Loan balance (if applicable), lender name, and account number.
  • Ownership details and proposed disposition (e.g., transfer to one party or sell and divide proceeds).

4. Financial Accounts

For each account, provide the following:

  • Bank name and account number.
  • Type of account (e.g., checking, savings, money market).
  • Account owner(s).
  • Balance as of a specific date.
  • Proposed disposition (e.g., split equally, transfer to one party, or close the account).

5. Retirement Accounts

For each retirement account (e.g., 401(k), IRA, pension), provide:

  • Account type and institution name.
  • Account number.
  • Account owner.
  • Current balance or valuation.
  • Details of any loans against the account.
  • Proposed division (e.g., percentage split, QDRO required, or retain in full).

6. Investment Accounts

For each investment account (e.g., stocks, bonds, mutual funds), provide:

  • Brokerage name and account number.
  • Account owner(s).
  • Current value of investments.
  • Details of individual investments within the account.
  • Proposed division or retention.

7. Business Interests

  • Name of the business.
  • Type of business entity (e.g., LLC, corporation, sole proprietorship).
  • Current valuation (obtain an appraisal if necessary).
  • Ownership details (percentage owned by each party).
  • Proposed disposition (e.g., one party retains ownership or sell and divide proceeds).

8. Debts and Liabilities

For each debt, provide:

  • Type of debt (e.g., credit card, loan, medical bills).
  • Lender name and account number.
  • Outstanding balance as of a specific date.
  • Who incurred the debt (e.g., joint or individual).
  • Proposed responsibility for repayment.

9. Personal Property

  • Detailed list of significant items (e.g., furniture, jewelry, electronics).
  • Estimated value of each item.
  • Proposed disposition (e.g., divide equally, assign to one party).

10. Taxes

  • Information about any tax refunds owed or tax liabilities.
  • Details of any unpaid taxes or installment payment agreements.
  • Agreement on how tax refunds or liabilities will be divided.

11. Insurance Policies

  • Type of insurance (e.g., life, health, auto, homeowner’s).
  • Policyholder and beneficiary details.
  • Policy number and provider.
  • Cash surrender value (for life insurance).
  • Proposed changes to beneficiaries or continuation of coverage.

12. Child-Related Financial Matters (if applicable)

  • Agreement on child support payments, including amount and frequency.
  • Division of childcare expenses (e.g., medical, education, extracurricular activities).
  • Health insurance coverage details for the child(ren).
  • Agreement on claiming child-related tax credits.

13. Spousal Support (if applicable)

  • Agreement on spousal support payments, including:
    • Amount.
    • Payment schedule (e.g., monthly, lump sum).
    • Duration of payments.

14. Miscellaneous Agreements

  • Division of any other marital assets not covered above (e.g., club memberships, rewards points).
  • Agreements on indemnity or hold-harmless clauses for debts.

15. Future Dispute Resolution

  • Agreement on how disputes about the separation agreement will be handled in the future (e.g., mediation or arbitration).

© 2025 Denver Mediation Services