Courts encourage divorcing couples to negotiate property settlements. When you cannot reach an agreement, a judge will determine how to divide your property. However, you and your spouse are in a better position than a judge to understand what is fair under the circumstances. The role of the court in Southbury asset division is significant, even when you and your spouse negotiate your own settlement. A skilled property division attorney can help ensure the judge understands your position regarding dividing assets in your divorce.
Connecticut law does not distinguish between separate property and marital property. Everything the spouses own jointly or separately must be divided, and the law requires couples to divide their property equitably.
An equitable division could be equal, but a settlement that gives one spouse a more significant share is not necessarily inequitable. Reaching an equitable settlement might involve selling the couple’s property and splitting the proceeds.
In many cases, the couple or a spouse prefers to retain a specific property rather than sell. For example, the couple may wish their children to be raised in the family home, or a business owner may prefer to pay their spouse a portion of the business’s value and continue to operate it.
An equitable settlement often involves each spouse retaining specific property and a portion of the couple’s liquid assets. The couple can consider issues that are personal to them when making these decisions. As the couple negotiates, a Southbury family law attorney can advise on a proposed property settlement’s legal and tax implications.
Direct negotiations between spouses allow a couple to retain maximum control over the property settlement. Southbury couples who do not communicate well with each other could work with a mediator or rely on their lawyers to handle the asset division.
When spouses agree on a property settlement, they must submit it to the court for approval before it is included in their divorce decree. The judge will review it to ensure that it is equitable under the circumstances. However, judges have the discretion to reject a property settlement if they believe it is unfair.
When a couple does not agree on property division, they must present evidence to the judge supporting their position. This evidence can be documents and data, such as appraisals and business balance sheets, but it can also be personal.
The judge can consider the nature of the couple’s relationship when making property division decisions. Connecticut General Statutes §46b-81(c) provides judges with a list of factors they can evaluate in these cases. They include the:
Judges can also consider each spouse’s conduct and the reason for the breakdown of a marriage, even when the couple seeks a no-fault divorce.
A spouse must clearly argue for their desired outcome. A Southbury lawyer can present a persuasive case, emphasizing how the factors the judge may consider support a spouse’s preferred property settlement.
There are numerous benefits when a couple negotiates their property settlement themselves. However, the judge must review any agreements you reach and confirm that they are fair and equitable.
Misunderstanding the role of the court in Southbury asset division can lead to unnecessary expense delays. Work with one of our divorce attorneys to ensure your case proceeds smoothly. Contact us today.
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