Dividing marital property can be one of the most time-consuming and stressful aspects of a divorce. Property division orders usually cannot be modified, so getting it right the first time is crucial.
Contact a New Canaan property division lawyer who can help you meet your financial goals following the breakdown of a marriage. Our experienced divorce attorneys will explain the law and ensure you understand the long-term impact of the various decisions you will need to make.
Most states distinguish between separate and marital property, with separate property being anything a spouse owned before marriage and inheritances they received during the marriage.
Connecticut does not make that distinction—both spouses have a right to everything either owns, regardless of when the property was acquired, who paid for it, and whose name is on the title or registration. This principal applies to property as well as debt.
The value of the property is subject to division, not necessarily the property itself. Before or during divorce proceedings, the spouses must agree on a value for all their property. They then distribute it so that each spouse has an equitable share.
When necessary, Connecticut General Statutes § 46b-81 allows a judge to order the property sold to ensure each spouse leaves the marriage with a fair share. Couples can avoid the forced sale of property by working with a New Canaan lawyer to negotiate an acceptable settlement.
When both spouses maintain control of the outcome, they are more likely to be satisfied with their share of the property. Couples with relatively modest or uncomplicated holdings who communicate well can often decide on asset division themselves. Others find it helpful to work with a mediator.
When the couple’s holdings are complex, or the two cannot communicate constructively, their legal representatives can negotiate directly on the spouses’ behalf. Settling property division matters before a trial is almost always worthwhile and saves considerable time, legal fees, and stress.
Marital agreements are enforceable in Connecticut, even when they deviate from how a court would divide the property. When a couple has the foresight to create a prenuptial agreement, they can adopt the property division scheme they envisioned in the agreement. Couples can also enter postnuptial agreements to divide their property in anticipation of divorce.
However, there are strict rules regarding the execution of these agreements, and if it is not compliant, it is not enforceable. A spouse could also challenge an agreement on the grounds that it is unconscionable, meaning shockingly unfair. A New Canaan property division attorney can review a marital agreement to evaluate whether it is vulnerable to a challenge.
A judge cannot finalize a divorce until the couple has agreed on property division. When the spouses cannot agree, the judge holds a trial and divides the property based on the evidence the parties present.
The law does not require divorcing spouses to divide their marital property equally. Instead, courts try to divide property equitably, given all the circumstances. Conn. Gen. Stat. § 46b-81 lists the factors a court can consider when dividing marital property, including the following:
When a trial is necessary for property division, a New Canaan lawyer can advocate aggressively to achieve their client’s desired outcome.
Dividing property is the most complicated aspect of divorce in most cases. Because property orders cannot be modified except in rare circumstances, you must understand all the long-term implications before agreeing to a settlement.
A New Canaan property division lawyer is a valuable ally during this process. They can help you set realistic goals and plan for a fulfilling future. Reach out today to speak with a compassionate family attorney to get started.
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