Determining Who Gets What In A Divorce
Nothing about divorce is easy, but – other than issues related to child custody – the division of assets is often the No. 1 obstacle. During your marriage, you amassed property and assets (to one degree or another), and you definitely want to come out on the other side of your divorce with your share of those assets. Often, the more assets you have, the more complicated the issue becomes. The LAW OFFICES OF PIAZZA & SIMMONS, LLC understand the legalities involved.
Property Distribution Takes A Number Of Factors Into Consideration
If you and your divorcing spouse can come to a mutually acceptable division of property and assets, the court will likely accept that decision. Divorce being what it is, however, the division of assets often becomes a sticking point. If you can’t come to an agreement together – through your attorneys or via mediation – the court will divide your assets for you.
Connecticut is both an equitable distribution state and all property state. This means the court will factor in all of the property that you hold jointly and separately into the division of property and will divide the property in a way that the court deems equitable. Equitable should not be confused with equal distribution but instead refers to a distribution that the court deems fair. In determining the equitable distribution of your assets, the court considers a variety of factors:
- The length of your marriage
- The cause of its dissolution
- Both of your ages
- How healthy each of you is
- Each of your occupations
- The amount and sources of each of your incomes
- The total estate involved
In other words, the court has a great deal of leeway when it comes to dividing your assets in a divorce. Importantly, though Connecticut is a no-fault divorce state, the courts can factor fault into the division of your property and assets.