When couples divorce, they usually talk about how to divide up their valuable assets, such as homes, jewelry collections and cars. They seldom discuss what to do with their debts, including any hefty balances on their joint credit cards. That can be a huge mistake....
How is debt divided in a Connecticut divorce?
Dividing your property is often a very contentious part of a pending divorce. Couples in Connecticut are likely to focus on their biggest assets when trying to divvy up their marital possessions. What fewer people stop to think about is the impact of debt on the...
Is staying in your marital home a good idea after divorce?
For many couples seeking a divorce, the biggest battle they will have with one another will stem from the ownership or possession of their marital home. It's common for both spouses to want to assert their right to stay in the marital home. People often view retaining...
What is protected as separate property in a Connecticut divorce?
Property or asset division is often one of the more contested areas in a Connecticut divorce. Both spouses may have assets that they hope to retain, and neither may agree with the demands or wishes of the other. As you may already know, Connecticut utilizes the...
Does having separate bank accounts matter in divorce?
When you got married, you already had your own bank account. So did your spouse. Rather than combining them, you decided to just keep using the separate ones the way you did before you got married. It seemed easier. Now you're getting divorced. Your spouse, who earns...
Pre-marriage student loan debt is separate property
Since many people get married in their mid-to-late 20s, they often bring student loan debt to the marriage. They may have just graduated in the last few years, and they each have loans to pay back. As a married couple, they work together on making those payments. But...
Asset transfers as a means of hiding those assets
Do you worry that your spouse is going to attempt to hide assets when the two of you get divorced? Maybe you think they do not want you to get your fair share, and maybe they have told you as much. If they're willing to break the law, what great lengths could they go...
What is the average income in Connecticut?
When dividing property during divorce, your household income becomes very important. To start with, you must fully understand what assets you control in order to divide them fairly. On top of that, you need to budget for your post-divorce life, and that starts with an...
For some spouses, divorce is a part of long-term care planning
Imagine you and your spouse are in your 50s. You've saved up a nest-egg to pay for your retirement years. However, your spouse develops Alzheimer's disease, which means that you and your spouse are going to endure massive medical bills. Those bills could result in the...
Dividing assets? Avoid uncertainty by staying out of court
Connecticut is an equitable distribution state, which means that your marital property will be divided fairly but not necessarily equally. This can work well for couples who earn incomes of varying levels or who put in different amounts of money into the relationship....
