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divorce & high asset divorce Archives

Is your spouse being honest about their finances?

As a high-asset couple in Connecticut currently going through a divorce, the asset division alone can potentially be a headache. We at Reich & Truax, PLLC, discuss one thing that can make it even more complex: the possibility of a spouse lying about their financial situation.

Can I financially survive a divorce?

If you and your spouse have experienced significant marital challenges, you may be considering filing for divorce. Many Connecticut couples think about the potential of getting divorced for some time before they actually take steps to file for a divorce. If you are in this stage, you should use the time to ensure that you are fully educated about your marital finances and that you properly identify the cost of living for you as a single person. 

Understanding amicable divorce

At the law offices of Reich & Truax, PLLC, we know that one of the last words most Connecticut residents want to hear associated with their divorce is “amicable.” After all, the circumstances that led to the end of your marriage were likely to be anything but amicable. However, you may want to learn about the types of uncontested divorce, often referred to as amicable divorce, that may help the process go by more smoothly and effectively.

Pet custody in a divorce

For many people in Connecticut, a dog or a cat might be the fur baby of their dreams. Pets today are more and more looked upon as treasured members of a family, not just creatures that live in the barn or in the dog house in the corner of the back yard. While this can be very positive in most situations, it can make the decision about who gets the pet when a couple gets divorced very difficult. 

Should you get a divorce or legally separate?

Connecticut residents like you who are considering splitting from your spouse have a number of options available. Today, Reich & Truax will discuss two of them: divorce and legal separation. They can provide unique benefits depending on how they're used and the situation they are used in.

Gray divorce and finances

If you are in your 50s, 60s or even older and are contemplating getting divorced, you are far from alone. Many other couples in Connecticut and around the United States are in this position as the rate of divorces in this age group has grown from five per every 1,000 married persons in 1990 to 10 in every 1,000 spouses by 2010. In total, these gray or silver divorces as they are often called account for roughly 25 percent of all marital dissolutions in the U.S. today.

The last-minute rush to get divorced

For some couples in Connecticut, the last several weeks of 2018 might look very different than anyone could have ever imagined. Instead of rushing to the mall, enjoying holiday festivities and working to salvage a marriage being primary activities, rushing to get divorced might be the focus. Generally speaking, divorces are not rushed nor are they the primary focus during holiday seasons but an upcoming change to the tax code is making this an unusual year indeed.

Increase in prenups, decrease in divorce for millennials

Many people in Connecticut are aware that the generation known as the millennials is responsible for leading a variety of changes in society and this includes in the realm of marriage and divorce. Some new information from a study conducted by a researcher at the University of Maryland as well as data from the American Academy of Matrimonial Lawyers corroborates this.

Can a divorcing spouse destroy assets?

Some divorces bring out the worst in people. Vengeful spouses will look for any way to harm an ex, including denying their former partners as many assets as possible, even if it means spending them away or ruining them so they will be of no value. This kind of asset destruction is known as dissipation, and it is something that Connecticut spouses planning a divorce should watch for.

Catching a spouse hiding assets

If you are thinking about getting divorced or in a marriage that is on the rocks and possibly headed for divorce in Connecticut, you will no doubt want to start taking stock of your life on many levels. This stock taking includes getting a good handle on your assets whether they be yours solely or jointly owned. In addition, you will want to pay close attention to the actions and behaviors of your spouse so that you can identify if they are hiding assets from you.

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