Undergoing a legal separation or divorce can be a journey riddled with difficulties. For instance, the emotional toll of separation in and of itself is enough to cause heightened tension, emotions, depression, and even anger, but it is far from the only consideration to make in this case. Moreover, unions that include children only further complicate the process, as many elements must be considered to determine custody, child support, and more. In today’s blog, your North Haven and Greenwich, CT attorneys take a deeper dive into what asset division may look like in a given matrimonial law case, as well as what you can expect from the process.
All Property is Marital Property
Though most individuals are not sure what to expect from their first time enlisting the services of an attorney for divorce representation, you may have been exposed to keywords such as separate property or marital property. To set the record straight, Connecticut law dictates that all property is considered marital property.
Whether you were aware of it or not, Connecticut is considered an equitable distribution or all property state. This means that marital property is divided according to what is fair or equitable. Notions such as marital property and separate property are terms that share different meanings in states that adopt the community property model, and Connecticut is not one of those states.
So, with this in mind, what does it mean for your property and assets with respect to divorce? Simply, it means that the court is going to consider all elements contributing to real property, market value of assets, emotional value involved, and much more to make a determination of what is fair or equitable. To learn more about this process, give our team a call today.
Debts Owed
In addition to the elements listed and discussed above, a judge will take a look at debts owed and ensure that allocation of such debt is equitable as well. For clarification purposes, equitable does not necessarily mean equal, so do not head into your marital case with the idea that you will receive exactly half of everything. Contact our team to learn more about how to get started today.
Compromise and Negotiation
Pursuing a legal separation and asset determination is not a straightforward process. It often requires great compromise and negotiation on your part, and sometimes this means convincing the judge that a certain combination of distribution is not wholly equitable. This is where we come in, as we will ensure your voice is heard and your best interests are considered.
Schedule Your Consultation
Contact The Law Offices of Charles & Concilio, LLC in Greenwich, CT by calling 203-861-6800 to schedule your initial consultation with one of our offices, and learn more about what to expect from asset division in the state of Connecticut.
