New Haven Division of Assets Attorney
One of the most difficult aspects of a divorce is dividing the spouses’ property. It can be an exhausting and contentious process, however, New Haven division of assets attorney can assist you with your situation. Our family law attorneys in New Haven have extensive experience helping clients divide their assets, and we understand the particular challenges facing clients who are going through a divorce.
Benefit of a Legal Representative
A seasoned division of assets attorney in New Haven can work tirelessly to advocate for you during the asset division process. Although the courts have broad discretion in dividing the assets of couples going through a divorce, they consider a number of factors in making such a determination, so it is important that you have a strong argument for the factors that are in your favor. We will help you develop your argument so that you are prepared for your day in court.
Overview of Division of Assets
Division of assets is governed in CGA Sec. 46b-81. Connecticut applies what is called the “all-property equitable distribution” scheme for division of assets, meaning they have broad authority to assign any property owned by either spouse to either spouse, regardless of the type of property or when it was acquired. They make this determination by considering a number of factors, including:
- Duration of the marriage;
- Contributions of each spouse to the marriage;
- Reason for the dissolution of the marriage;
- Age and health of the spouses;
- Occupation of each spouse;
- Sources of income and earning capacity;
- Skills, education, and employability of the spouses; and
- Liabilities and needs of each spouse.
Once a property settlement is finalized by the court, it can be modified only for a short period of time and only in a limited number of circumstances. Property settlement agreements, therefore, are very difficult to modify after the final judgment is entered, so it is important to get it right the first time.
Property distribution following a divorce depends on the type of property. Personal property can include a car, jewelry, TV, and clothing, whereas real property is an actual piece of property, land, or structures on that land.
If it is a house, one person can buy the other out; or the house could be put up for sale and the net proceeds could be split. With personal property, oftentimes the parties are able to decide among themselves who gets what in the house. If it is a deferred asset or something like a 401(k), there are special procedures that need court orders to divide those up.
Property settlement agreements are usually part of a divorce agreement. The most important thing is that it is reasonable, fair, and equitable for both parties.
Equitable distribution means that the parties receive their fair share of the property. The factors are very similar to that of alimony. Where did the property come from? How were the parties able to acquire it? Was it during the course of the marriage? Was it before the marriage? Was it before separation? Was it after separation?
Overall, the most important thing when it comes to property is whether there any liens, mortgages, notes, or securities attached to any of the property, and whether a person owes money to other property, such as vehicles, cars, and anything you own or any other any liabilities associated with their property.
Our New Haven division of assets lawyers offer our clients full-scope asset division services, including:
- Full explanation of the factors courts consider and how each may apply to your case
- Information gathering and investigative services when appropriate
- Preparation for all court appearances
- Advice on legal arguments and defenses available and possible outcomes and
- Representation in settlement negotiations when applicable
This list, however, is not exhaustive. We know that the divorce process can be overwhelming, so our attorneys make themselves available to clients around the clock to ensure you are informed of the status of your case and that your questions and concerns about your case are promptly and efficiently addressed.
Get Help Today
Going through a divorce is a significant life event that can cause a tremendous amount of stress. Our family law attorneys in New Haven understand the pain you’re feeling. Especially in the face of possibly have to giving up property you feel that you are rightly entitled to, the situation can get overwhelming and emotional very quickly.
Working with a New Haven division of assets attorney, however, can help allay some of your concerns. We will help you understand the process and make sure you know what to expect so that you can focus on moving on with your life. Get your initial consultation free-of-charge.