People often think about divorce as an emotional decision. They talk about how they just don't love each other anymore or how hurt or disappointed they are. They mention feeling angry, bitter, happy or relieved. All cases are different, but emotions and feelings tend to dominate as they look at the relational side of the split.
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.
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.
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 to?
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 understanding of what your income will look like after the split.
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 exhaustion of all your retirement. Essentially, you and your spouse will have to wait until you're impoverished before Medicaid kicks in to help with the bills. One solution to this dilemma could be divorce.
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.
If you give someone an engagement ring, is it your right to ask for it back if you break off the engagement or decide to later get a divorce? This is something many people question, and there isn't actually an easy answer. Courts often disagree on who the engagement ring should belong to, and there are multiple factors to consider.
Digital assets may be an important part of your divorce. If that's the case, then you need to know how to protect them. For many people, protecting digital assets starts before marriage.
Divorce is not something most people want to go through, but yet, many people do. Their marriages may break down, or they may think they have no other option because of problems with finances or other factors.