Assisting You With Asset Protection
When you seek a divorce, you will begin the often elaborate process of declaring, evaluating and dividing your property. In Connecticut, the property is divided based on equitable distribution parameters. This will not necessarily be a 50-50 split of items, but instead will be a division based on a number of factors. The attorneys at Conlon & McGlynn understand the complexities of asset division and use their experience, along with the utilization of accounting professionals to assist clients with the process.
Getting To Know The Process
The equitable distribution process is in place to assist both parties upon divorce. The reasoning behind this type of separation is that the process sets up each party financially as they divide one household into two.
The way property is split depends on several factors, including:
- Length of marriage
- The income of each individual
- The contribution of each individual to the marriage prior to divorce, including income, responsibilities and efforts
- Each parties age, health and ability to make a future income
- Any allocation of parental responsibilities
- Tax and debt obligations
- The incorporation of a prenuptial or postnuptial arrangement
What Is Subject To Be Divided During Divorce?
Under Connecticut law, all marital property and debts can be dispersed among both parties during the divorce process. In some cases, separate property that was brought into the marriage by one individual may be considered for equitable distribution as well. An experienced family law attorney will help you understand what property is eligible for distribution.
Common items subject to distribution include:
- Business interests
- Debts
- Checking accounts
- Savings accounts
- Personal property items
- Retirement accounts and benefits
- Pensions
- Real estate property and investments
- Stock portfolios and investments
- Educational accounts
- Private equity funds
- Partnership holdings
- IRAs, bonds, profit shares
- Inheritance
- Executive compensation plans
Helping You Reach Favorable Results
Contact our Westport office via email or by calling 203-222-8686 today. Our team of lawyers will listen to your needs, assess the situation, answer your questions and create personalized remedies in order to pursue your goals. Your property and financial future are important to you, and we want to ensure that you fight for what you deserve.
