What should I know about property division in Connecticut?

by | May 21, 2015 | Firm News, Property Division |

You are asking questions about divorce and that is a great thing. By seeking to learn as much as possible, you are saying you care about the outcome of your divorce and are not going to be taken advantage of.

If you are looking for a speedy education, there is no better question to ask. Property division can be quite complicated and focusing on the most important aspects is an excellent way to start. This can help you negotiate with your ex outside of the law and can also help guide you through the property division process.

Since Connecticut is an equitable division state, your shared assets will not be split down the middle; rather the courts will favor the spouse who earns the lowest amount of money. Here are some additional things you and your spouse will want to think about before your divorce is final:

Debt Management: Like your assets, your debts will also be divided between you and your spouse. It may be to your mutual benefit if you and your spouse can pay as much debt off as possible before divorce. However, this is not always possible.

Retirement or Previous Estate Plan: Any decisions you and your spouse have made as a couple must be taken into consideration during property division. This includes joint retirement plans and your estate planning efforts as well.

Settling Property Together: In a best case scenario, you and your spouse still get along well enough to settle your property outside of the law. A judge will review your arrangements and if he or she deems it a fair and equitable agreement, it will likely be approved.

The topics discussed here are enough to put you on track for short and painless property negotiations, but remember, a divorce attorney is one of the most knowledgeable resources when it comes to a smooth and equitable divorce.

Source: FindLaw, “Divorce and Property,” accessed May. 21, 2015


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