If you are considering divorcing your spouse, you may have concerns about the financial situation you will be in after signing the final divorce agreement. A key component to your economic well-being post-divorce is a fair division of your marital property.
Because Connecticut law does not mandate equal asset division in divorce, it is essential to work with an experienced Stamford property division lawyer. A family attorney can explain how judges allocate property and advise you of next steps to ensure an equitable resolution of your case.
In many states, property a spouse acquired before marriage is automatically considered their separate property in a divorce. However, unless the spouses have a prenuptial agreement directing otherwise, Connecticut judges can divide any property the couple owns at the time of their divorce if they deem it equitable to do so.
Additionally, state law does not mandate that courts divide marital property equally. Instead, a court may apportion the property between the spouses fairly, or equitably. To make this determination, a court may consider the following factors under Connecticut General Statutes §46b-81:
In an equitable property state, judges are given broad discretion to decide the final asset division upon divorce. Accordingly, it is essential to work with an experienced attorney to better understand these marital division factors and how the Stamford family court might apply them.
To be subject to division by a judge, an asset must meet the definition of property under current state law. Property divisible in a divorce includes but is not limited to:
Depending on the nature of the asset, other property may also be considered part of the marital estate. A knowledgeable attorney can assess a couple’s assets to determine if they are subject to distribution in a Stamford divorce.
As part of the overall asset division process, a judge may consider the circumstances leading to a couple’s marriage dissolution. If one party is substantially at fault for the divorce, the judge can award the other spouse more of the marital property to reach an equitable result.
Determining fault is highly subjective, and a spouse is well-advised to consult a skilled local lawyer to discuss whether their actions might be deemed a contributing factor in the marital breakup.
If the parties have a prenuptial agreement, it can essentially override the state’s equitable property distribution laws. A valid prenup can spell out precisely how the couple’s assets are to be divided and, if it meets the state’s contractual requirements and does not otherwise offend public policy, a judge will likely enforce its terms.
The division of property is often one of the most disputed aspects of a divorce. Allocating assets can be even more challenging if one spouse disputes the marital versus nonmarital nature of the assets.
A capable Stamford property division lawyer has extensive experience in state law. Our firm has a track record of success in reaching favorable outcomes on asset division disputes and can assist you through the process. Schedule your consultation with a legal representative today.