Property Division Lawyers
Even in relatively amicable divorces, the division of property can be an extremely emotional process. Whether the property is simply treasured and filled with sentimental value or holds actual monetary value, the property division process can be quite taxing without experienced counsel on your side. Property division is further complicated by the fact that marital debts which can be substantial liabilities must also be divided during a divorce.
Powerful Advocates Protecting Your Interests At All Times
Whether you are interested in negotiating a settlement or believe your divorce will go to trial, there are legal issues that can affect your long-term finances and interests. Our lawyers at Berchem Moses PC will form strategies to address all of these issues; provide straightforward, accessible answers; and protect your best interests during the often challenging times of a divorce.
In Connecticut, asset and debt division during divorce is not automatically divided 50-50 between the spouses, but is instead subject to equitable (fair) division. When deciding whether property should be subject to division and what type of division is fair, the court considers a number of factors, including the:
- Length of the marriage
- Causes for the annulment, dissolution of the marriage or legal separation
- Age, health, station, occupation, amount and sources of income, vocational skills, employability, estate, liabilities and needs of each of the parties, and the opportunity of each for future acquisition of capital assets and income
- Contribution of each of the parties in the acquisition, preservation or appreciation in value of their respective estates
Assets Subject To Division
Besides real estate, assets such as retirement accounts, 401(k) plans, military benefits, family businesses and valuables must be distributed equitably. Our firm can explain how these assets are valued, the rules for dividing them and how they will be distributed. If necessary, we can work with accountants and business valuation professionals.
You and your spouse are responsible for debts acquired during the marriage, including mortgages and credit card debt. Debts acquired before the marriage, such as student loans, are typically the responsibility of the spouse who took them out.
To discuss you situation and learn more about your asset division options, contact us at 203-783-1200 to get a free initial consultation. From our offices in Milford and Westport, our attorneys represent clients throughout Connecticut.