Working Toward Fair And Equitable Property Division
Property division is one of the most contentious aspects in divorce cases, particularly when there are significant assets involved. It is essential that you get help from experienced legal counsel to help ensure that your interests are protected while working toward a fair division of property.
At Reich & Truax, PLLC, our attorneys can help guide you through every step of the property division process. We handle complex issues such as business valuation and identification of hidden assets, in order to ensure that everything is kept above board. We will do everything we can to help minimize the stress of this difficult time in your life. From our office in Southport, we represent clients across Connecticut.
Factors Used When Dividing Property
Any asset owned by both or either party at the time of the divorce proceeding is subject to division. This is true no matter where or when the property was acquired. A number of factors are taken into account when dividing property, including:
- Length of the marriage
- Ages of the parties
- Health of the parties
- Occupation, earning capacity, vocational skills, employability and income of the parties
- Estate of each of the parties
- Liabilities of the parties
- Needs of the parties
- Opportunities for each party to acquire future assets and income
- Contributions each party made in acquiring, preserving and appreciating assets
- Cause for the breakdown of the marriage
Although Connecticut is a no-fault divorce state, the court may consider the reason behind the divorce when it comes to property division. Connecticut requires that property be divided fairly and equitably. It is important to remember that equitable is not the same as equal, and a simple 50-50 split is rarely the ultimate outcome. That is why it is important to protect your interests with the help of skilled legal representation.
Contact Us To Learn More About The Division Of Assets In Divorce Proceedings
Our lawyers are available to address your property division concerns as part of our comprehensive divorce services. Call 203-254-9877 or contact us online to schedule a consultation to discuss your situation. We serve clients in Fairfield County and throughout Connecticut.