Whether you’ve been married for six month or sixteen years, the chances are that you’ve either entered your marriage with property or you have accumulated some in the span of your marriage. In a divorce, dividing property and assets can be one of the most challenging pieces to sort out. It’s easy to form a personal and emotional attachment to your property, and this can be very difficult to give up or even split with your ex. Connecticut has general laws that determine who the equitable distribution of property in the event of a divorce. For this reason, it’s important to understand who typically gets what property in the event of a Connecticut divorce.
Determining Separate or Marital Property
At the start of the divorce, the courts typically define two common categories of property.
- Marital property – This includes all assets and property that the couples obtain after they were married.
- Separate property – This refers to the assets and property that each person entered the marriage with. This could include a trust fund or a property that was already purchased before the couple married.
In straightforward cases, the judge will divide property based on these definitions. The separate property will go back to the original owner, and the marital property will be split fairly between the couple. That said, there are certain circumstances that will allow deviation from the standard protocol. A judge can divide both separate and marital property in the way they feel is most fair. For this reason, it is advisable to work with an experienced divorce law attorney who can help you advocate for equitable distribution and explain any extraneous circumstances that might allow you access to certain assets.
Factors in Determining How to Divide Property
The typical process for deciding how the property will be divided is as follows – first, all property will be assigned a monetary value. This will probably include an appraisal of valuables including artwork, antiques, and real estate, and an examination of liquid assets. Once the total value of the property has been established, it is time to determine how to divide the property in an equitable manner. Some of the factors that will determine the distribution of property include:
- Length of the marriage
- Reason for dissolution of the marriage
- The potential for employment and general employability
- Future assets or inheritance
- Each person’s contribution to their current estate
- Current financial income
Call an Experienced Stamford, CT Divorce Lawyer Today
At the Law Office of Piazza, Simmons & Grant, we have worked with numerous clients who are going through a divorce in the Stamford, CT area. We can help protect your rights to fair and equitable distribution of property in the event of a divorce. There is no easy way to talk about how to divide assets, and an experienced attorney can help to outline all of the different options for divorcing couples. Call us today at 203-348-2465 to set up an initial consultation or contact us online. We’re proud to serve the Stamford, CT area and are here to help you work through this challenging situation.