Division of assets is a part of every divorce. The assets to be divided are known as the “marital estate” or “marital property”. These assets include the assets each spouse brought into the marriage, the assets accumulated by either spouse during the marriage and the assets inherited during the marriage. Unlike Community Property states in which each party gets an equal share of marital property, Connecticut is an “equitable distribution” state.
That means that there is no fixed blueprint for division of property. Division of property is based on certain factors that a court must consider, including the length of the marriage, the cause for the breakdown of the marriage, the 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 the contribution of each of the parties towards acquiring, preserving or increasing the value of the assets.
Because there is no set formula for division of marital assets, parties in Connecticut have flexibility in dividing assets in a way that is beneficial to their interests. It is essential to have on your side a skilled advocate and negotiator who is experienced in reviewing marital assets, analyzing those assets and creatively finding ways to divide your marital estate with an eye towards obtaining you the best results possible. I have that experience.