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property distribution

DIVISION OF ASSETS IN CONNECTICUT

How will our assets be divided in a divorce in Connecticut?

After filing for divorce in Connecticut, the process includes the division of marital property between the parties, which in Connecticut includes assets brought into the marriage, accumulated during the marriage and inherited during the marriage. The Court will divide assets such as bank accounts, personal property, stock options, business interests, retirement assets such as pensions, 401K and deferred compensation assets, and real property held by the parties. The division of property need not be “equal”. The Court must consider certain factors in dividing the marital estate, including:

  • length of the marriage;
  • cause for the breakdown of the marriage;
  • age and health of the parties;
  • income, occupation, assets and liabilities of each party;
  • opportunity for each party to acquire assets and income in the future; and
  • contribution of each of the parties in the acquisition, preservation or appreciation in value of their respective estates.

Is there such thing as “separate property” in Connecticut?

Connecticut does not recognize “separate property” claims by a spouse with respect to property either brought into the marriage or inherited during the marriage. However, a skillfully drafted pre-nuptial agreement can address this issue prior to the parties entering into their marriage. Additionally, the Court may take into consideration whether an asset was brought into the marriage or inherited by one of the spouses in determining how and to what extent it will be distributed.

Will I need an expert to assist in valuing our assets?

In some instances, the financial affidavits submitted by the parties are insufficient to analyze the value and extent of the marital assets. In these instances, it may be necessary to employ a forensic accountant and/or business valuator to assist in locating assets which may be hidden by a spouse, to value a business owned by a spouse, or to trace monies which may have been wrongfully dissipated by a spouse. I have extensive experience in handling complex business valuation matters and those involving “undisclosed” assets and income. I also utilize sophisticated financial software to calculate the “tax implications” of a proposed property distribution enabling me to provide valuable advice to maximize your property award.

For a consultation regarding divorce in Connecticut and the division of marital property, separate property claims, pre-nuptial and pre-marital agreements, or the division of retirement assets, please contact my office at (203) 557-0557 or complete the contact form on this site. My office is conveniently located at 3 Bridge Square in Westport, Connecticut.

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Dori-Ellen S. Feltman, representing clients filing for divorce in Connecticut serves clients from throughout Fairfield County and New Haven County including Greenwich, Darien, Norwalk, Wilton, Stamford, Norwalk, Westport, Weston, Easton, Danbury, Bethel, Brookfield, Milford, Trumbull, Monroe, Newtown, Shelton, Danbury, Ridgefield, Orange, Branford, Woodbridge and New Haven.