Complications beyond the average divorce can arise when couples with significant assets are separating. Given the high stakes, it is vital that you seek help from a dedicated family law attorney for your high-asset divorce.
There are some specific factors to a high-asset divorce. An experienced divorce attorney should have an understanding of everything from business valuation to the impact on your tax burden that property division might have. A Connecticut high-asset divorce lawyer can provide you with the confidence and security you need during the divorce process.
Connecticut is known as an equitable distribution state. This approach—commonly referred to as an “all-property equitable distribution scheme”—requires the court to distribute the entire estate in a fair and equitable manner.
The approach to asset division in Connecticut looks very different compared to other states. When a family law court distributes assets following a divorce, they have the power to divide not only assets obtained during the course of the marriage but assets that individual spouses brought into the marriage as well. In most cases, all assets brought into the marriage can be considered marital property and divided in a way the court sees fit. This might even include gifts or inheritance, two types of assets that are frequently not considered marital assets in other jurisdictions.
Equitable distribution does not mean the estate must be split evenly between both spouses. Instead, the family law court must determine what an equitable division of assets looks like based on the facts of the case. A high-asset divorce lawyer in Connecticut can help a spouse make their case that they are entitled to the majority of assets.
It is possible for spouses to protect the property they bring into a marriage. Doing so requires the use of a document known as a prenuptial agreement. The terms of a prenuptial agreement can make it clear that each spouse will retain the assets they brought into the marriage.
High-asset divorces do not have to be high-conflict cases. In many divorces, approaching the division of assets with a collaborative mindset might result in a separation free from strife or drama.
There are several ways a high-asset divorce lawyer in Connecticut can facilitate a low-conflict divorce. One of the best tools for resolving the division of assets amicably is known as alternative dispute resolution or ADR.
There are multiple ways to resolve property and child custody decisions without the need for litigation. Mediation is arguably the most common option. Mediation occurs when both parties sit down with a neutral third-party mediator. The mediator will work to bring both sides together to agree on the terms for property division.
Another option for avoiding a high-conflict divorce is through the collaborative divorce process, which is similar to mediation, but it involves attorneys on both sides working together to reach an amicable resolution.
A high-asset divorce does not have to devolve into an ugly conflict. While it is understandable for these separations to cause stress, the right divorce attorney can provide peace of mind throughout the separation process.
Let a Connecticut high-asset divorce lawyer guide you during this challenging time. Call today to schedule a confidential consultation.