If you are getting a divorce, your property settlement will have an enormous impact on your future quality of life. Knowing your rights and how to best assert them is essential. Obtaining a favorable division of assets in Southbury requires strategic planning, focus, and flexibility. Our skilled property division attorneys will learn your goals and develop a plan to achieve the best outcome the circumstances allow.
Connecticut General Statutes §46b-81 calls for an equitable split of a couple’s property when they divorce. The property subject to division includes everything they own separately or as a couple at the time they divorce.
An equitable division can be equal, but could also be unequal. Judges consider multiple factors when deciding how to divide property, including the following:
Judges have broad discretion to consider any factors they think relevant when deciding how to divide a couple’s property.
Anyone anticipating a divorce should consider what they believe would be fair under the circumstances. An experienced Southbury attorney can explain the law regarding the division of assets and point out the factors that might be important in obtaining a favorable decision in a specific case.
Each spouse must submit a financial disclosure to the other party and the court. A spouse preparing for divorce should thoroughly understand the couple’s finances. This includes gathering detailed information about their holdings, which spouse acquired each asset, when the acquisition occurred, and who managed the asset.
A spouse who spends considerable time caring for the home, children, or managing the couple’s social obligations should document those activities. If a spouse supported the other financially while they attained educational or professional credentials, the spouse should collect proof of that support.
Comprehensive documentation allows a spouse and their Southbury attorney to make a realistic assessment of the couple’s property and determine what a favorable asset division would look like in their case. If the couple cannot agree on a property settlement through negotiation, the documentation can provide objective support for a spouse’s claims.
Before property settlement negotiations begin, a spouse must think through what is most important to them in the property division process. They should then consider what they would be willing to give up to obtain their priority assets.
Although transfers of property between spouses due to divorce are generally tax neutral, certain transfers will trigger tax obligations. A Southbury attorney can alert a spouse to the need to seek tax advice to understand the implications of various asset transfers to help a spouse formulate a realistic strategy to achieve their goals.
Judges may weigh marital misconduct when dividing property, even in no-fault divorces. Presenting evidence of misconduct can affect the dynamics between former spouses and their children. If spousal misconduct contributed to the divorce, a spouse should assess whether to raise this issue during negotiations or include it in court filings to influence the outcome.
An equitable property settlement in a divorce is the result of good planning, strong negotiation skills, and a recognition that compromise is inevitable. You may not get everything you want, but in most cases, you can get what is most important to you.
Increase your chances of obtaining a favorable division of assets in Southbury by working with one of our experienced lawyers. Reach out to us today to begin developing your property division strategy.
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