The separation of property is often one of the most challenging and contentious aspects of a divorce proceeding. In Connecticut, state law follows the principle of “equitable distribution,” meaning that all marital property must be divided in a way that is fair and equitable to both of the parties. However, this does not mean the division will be a fifty-fifty split. The court will consider various factors when determining how property should be divided. As each case is unique and the stakes are high, it essential to have a knowledgeable family lawyer by your side to protect your interests and guide you through this difficult time.
Continue reading to learn more about equitable distribution in Connecticut.
Equitable Division Law in Connecticut
Specifically, “equitable division” means that property will be divided in a way the court considers fair, rather than exactly equal. Many people mistakenly interpret that “equitable distribution” of assets must mean “equal,” expecting a fifty-fifty split of all property. However, in the context of Connecticut family law, equitable does not mean equal; but it means fair and appropriate distribution based on the unique facts of both the marriage and separation. While some divorces may certainly can result in an equal 50/50 split division of property if the court determines that is what fairness requires, this is not the outcome in every case and is certainly not the automatic standard to expect. The court will evaluate various factors, including each spouse’s financial circumstances, contributions to the marriage, and future needs, to decide how assets and debts will be divided.
Fair and Equitable in the Eyes of the Court
The equitable distribution law, codified in the Connecticut General Statutes § 46b-81, gives the family court judge wide discretion in determining how to decide to divide property between spouses. Accordingly, the court must consider various factors, including:
- Length of the marriage
- Reasons for the divorce or separation
- Age, health, and income of both parties
- Occupation, education, future earning capacity, and employability of each spouse
- Each party’s assets, debts, and future imminent financial needs
- Each spouse’s respective contributions to acquiring or increasing the value of the marital property
- Each party’s likely future financial prospects
This law ensures that the court considers all relevant factors to determine a fair and equitable division of property, taking into account the full context of the marriage and the future financial outlook of both parties.
Separate Versus Marital Property
In a divorce, distinguishing between marital and separate property is necessary first step, as only marital assets are subject to equitable division. Generally, property owned before the marriage is usually considered separate, unless it was later shared or transferred to include the spouse. All property acquired during the marriage is considered as marital property, unless there was an express agreement to have is as separate property. A valid prenuptial agreement can specify certain assets that both spouses agree will remain separate, regardless of when they were acquired. Clearly identifying and documenting separate property is important to avoid disputes during divorce proceeding.
Marital property includes all assets acquired by either spouse during the marriage, such as real property, vehicles, businesses, incomes, joint bank accounts. These are considered part of the marital partnership and will be divided fairly through the equitable distribution process during the divorce. In contrast, separate property typically includes assets owned by one spouse before the marriage, as well as inheritances and personal gifts. Compensation received from personal injury lawsuits is also considered separate property belonging to the person who was awarded the claim. To remain separate, these assets must not be comingled with marital property. Always consult with an experienced divorce attorney to ensure your property rights are protected and that the division of assets is handled fairly and accurately.
Merino Family Law- Your Advocate for Fair and Compassionate Divorce Representation
Divorce is always challenging, and financial matters add another layer of complexity, which is why expert legal support is essential to safeguard your financial well-being. Managing property division can feel daunting, particularly when significant assets are at stake. In Connecticut, equitable distribution aims to separate assets abased on each spouse’s contributions and needs, so having skilled legal support is vital. At Merino Family Law, we recognize these challenges and are committed to helping our clients achieve outcomes that secure their interests. Contact us today.