The only way to really plan for your future when considering a divorce is to try to determine how the courts will split up your assets and debts. Until you have a reasonable idea of what resources you will have, it’s very difficult to determine how much your standard of living will change and what steps you need to take to ensure your financial stability.
While it’s impossible to completely predict the outcome of property division in lieu of a prenuptial agreement, the better you understand how Connecticut divides your property and debts, the easier it will be for you to feel comfortable with the most likely outcomes.
Connecticut applies the equitable distribution standard to your marital estate
For the most part, the assets and debts you acquired during your marriage will be part of your marital estates, which means they will be subject to division in your divorce because both you and your ex have an ownership interest in the marital estate.
Items you owned prior to marriage and certain other assets, such as gifts and an inheritance, may be separate property, and therefore, protected from division in the divorce. The Connecticut family courts will apply the equitable distribution standard to the assets and debts from your marriage.
Equitable distribution seeks to find a fair way to split your assets up considering the many unique circumstances of your marriage. Factors such as the custody of your children, the length of your marriage, your income potential, unpaid contributions to the marital estate and more will all factor into how the courts eventually divide your assets.