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Property Division Archives

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 to?

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 understanding of what your income will look like after the split.

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 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.

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.

Who gets the engagement ring? There's no easy answer

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.

Can I keep the family home in my divorce?

Both spouses usually own the family home together as a part of the marital estate. This can leave the question of who will stay in the family residence somewhat unclear. Since a home is usually worth over a hundred thousand dollars — often several hundred thousand dollars — allowing one spouse to keep the residence may not even be possible.

Should you buy a house together if you're not married?

If you and your significant other are unmarried but live together, you may still build up a collection of assets that you've purchased together. Unlike in a marriage, your assets aren't immediately divisible based on your shared interests, though, if you choose to separate.

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