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When you and your spouse decide to get divorced, one of the biggest challenges you will face is dividing the property. Determining who should get what can be quite difficult, even under the most amicable of circumstances. While some spouses are able to come to an agreement on their own, others require a divorce attorney to help them negotiate a settlement. Either way, it’s crucial to come to a fair agreement, so you aren’t left dealing with significant financial hardship. Here is a quick guide to property division in Connecticut.

How Connecticut Handles Property Division in a Divorce

Equitable Distribution 

Connecticut requires equitable distribution of property. However, equal does not necessarily mean a 50/50 split between spouses; rather, it refers to what a judge considers to be fair for both parties. Additionally, unlike many other states, the courts have jurisdiction to divide both the couple’s marital property, as well as property that is separately owned by each party. The court will generally assign a monetary value to all items to ensure fair distribution. 

Factors Used to Divide Property 

divorce attorneyIf you and your spouse are unable to reach an agreement on the division of your property, the court will take a variety of factors into account before making a judgment. This includes the length of the marriage, reason for divorce, and each spouse’s age, health, occupation, income, and liabilities. They will also consider the contribution each spouse made to the acquisition and preservation of marital assets. 

Property division can become even more complicated when a couple jointly owns a business. How do you determine how much the business is worth? A divorce attorney can help accurately evaluate your assets and work with you to devise a strategy that will safeguard the portion you are rightfully due.  

 

When you need a divorce attorney to protect your assets, contact The Law Offices of Conti, Levy and Salerno, LLC. in Litchfield County, CT. They can help protect your fair share of marital property so you can be set up for a financially secure future. They have extensive experience working on complex property matters and can offer reliable legal guidance and representation as you move into the next chapter of your life. Call (860) 482-4451 to arrange a consultation with a divorce attorney, or visit their website to learn more about their legal services.

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