Few issues are as controversial in a divorce as matters of property division and distribution. Therefore, if you are planning to separate from your spouse, you should first speak with a New Haven property division lawyer. A seasoned divorce attorney can examine your various assets and work to establish an arrangement that preserves your property rights while meeting the state’s requirements for equitable distribution.
The state adheres to the doctrine of equitable distribution when dividing a couple’s property during a divorce. This means that a couple’s assets are divided based on what a court thinks is fair. It is important to note that equitable distribution does not necessarily mean assets will be split equally. Additionally, there is no distinction between the assets owned by either party before they were married and those they obtained after their wedding.
Therefore, all of a divorcing couple’s assets will be subject to division, no matter when the property was originally obtained. A local attorney can help someone understand how the state’s property division laws may impact the distribution of their assets during a divorce.
A wide range of assets may be subject to division by the court. This may include both real and personal property owned by the divorcing couple. Even inheritance money can be subject to equitable distribution. Common assets named in a property division agreement may include:
Though it is not required, the court may let either party keep some or all of the assets they obtained before the marriage. A lawyer in the area can review an individual’s assets and determine which pieces of property may be subject to division.
In some situations, two parties may be able to work with their respective lawyers to reach a joint agreement regarding the distribution of their marital assets. If the divorcing couple can come to a decision on how they want their assets divided, they can submit the agreement to the court for the final review. Mediation can save significant time and money that may otherwise be spent litigating the matter in court.
If the divorcing parties cannot reach a consensus regarding the division of their marital assets, the court will make a binding decision. An attorney in New Haven with experience handling property division cases can advocate for someone attempting to negotiate with their spouse outside of court.
The court typically evaluates several factors before reaching a final determination on asset distribution. These factors may include:
Any efforts by either party to increase or diminish the couple’s assets or liabilities may also be considered when the court is dividing their property. A division of assets attorney can represent a former spouse in court and ensure these important factors are incorporated in the final decision.
The attorneys at our firm spare no effort to help you reach a fair property agreement. Whether you are negotiating with your spouse in mediation or proceeding with the case in court, a New Haven property division lawyer can advocate for your interests and fight to achieve a favorable outcome. Call us today and speak with a lawyer about your case.