Distribution of Marital Property
During a Connecticut Divorce
Disagreements about the division of marital property and marital debt can stall a divorce proceeding that seemed to be moving forward smoothly.
Are we going to sell the house? How are we going to share responsibility for the mortgage? Do I have to share my retirement fund or the inheritance I received while we were married? Does my spouse now own part of my business, even though I started it before we got married?
The Law Office of Giustino Capodilupo
Ridgefield, Connecticut
1-866-644-3769 ∙ E-Mail
These are just some of the questions our clients come to us with — questions that can cause fierce and sometimes emotional conflict. Our role is to help our clients understand what a judge would most likely order with regard to the division of marital property and marital debt if no agreement is reached — and then negotiate on our clients' behalf for the best possible, and practical, property settlement agreement.
We often utilize forensic accountants in divorce cases where division of marital property is a sticking point. It is critically important to have a complete and accurate picture of the value of all the assets before we can begin negotiating about how to divide them.
Connecticut is an 'Equitable Distribution' State
Some states — but not Connecticut — have "communal property" laws when it comes to division of marital property and debt. Under communal property laws, all the property and debt acquired by the spouses during the marriage is split 50-50 between the husband and wife. Communal property laws are relatively simple, but they can also be unfair.
In Connecticut, we operate under "equitable distribution" laws. In a basic sense, the equitable distribution laws mean that marital property and debt must be divided fairly, as opposed to split down the middle.
The basic law about property division is that property or debt acquired before the marriage remains separate property. Some property acquired during the marriage — such as court settlements and inheritances — may also remain separate property.
Property and debt acquired during the marriage is marital property and must be divided "equitably" — or fairly — between the spouses.
Consultations
Flexible Scheduling Options
If you believe that your divorce will include disputes about the division of marital property and debt, then you should consider seeking early legal advice from a knowledgeable lawyer who can help you get complete and accurate valuations of all property and debt owned jointly or solely by both spouses.
At The Law Office of Giustino Capodilupo, we offer all new family law clients an initial consultation. We are always available to answer your legal questions and provide practical and effective legal representation. To schedule an appointment with attorney Giustino Capodilupo, contact our offices. Call toll-free 1-866-644-3769 or send us an e-mail.
