Property division is one of the most important issues in a divorce. It’s also the source of some of the biggest divorce myths.
Read on as we debunk the top three Connecticut property division myths.
Connecticut is Not a Community Property State
The first myth we hear all the time is that Connecticut is a community property state. It is not. A community property state is a state where spouses both equally own all of the property that is acquired during the marriage. That’s not the case in Connecticut.
Property is Not Always Divided 50/50 in Connecticut
When it comes to how property division works in Connecticut, the keyword is “equitable.” Connecticut is an equitable distribution state not a community property state. What that means is that the judge — or you and your spouse if you reach an agreement — looks to certain property division factors to come up with a division of property that’s fair and equitable. Equitable doesn’t necessarily mean equal, or 50%/50%.
The Comprehensive Connecticut Property Division Guide
How to divide property is one of the most important issues in divorces. And, it’s one of the most confusing. There are no set formulas or rules on how property will be divided. The good news is that creates tremendous flexibility for experienced divorce attorneys to craft an individualized approach. In order to prepare to make solid and informed decisions, you need to understand how property division works. Our Comprehensive Connecticut Property Division Guide tells you everything you need to know about property division in Connecticut.
Property Acquired Before Your Marriage is Subject to Division During Divorce
The third common myths we hear is that only property acquired during your marriage is subject to division in a divorce. That is not the case. Connecticut is an “all property” state. What that means is that all property in Connecticut is subject to division at the time of the divorce, regardless of which spouse’s name it’s in or whether you got it before or during the marriage.
Next Steps
The fact that property division isn’t a clear cut 50%/50% is actually a good thing. It creates an opportunity for us to really figure out what is going on in your life, and create a property division strategy rooted in your goals. We discover what you want for your future — including what type of property is most meaningful for you — and create a custom approach to property division tailored to you.
That’s why our first step at Freed Marcroft, the Goals & Planning Conference, is designed to get to the heart of your problem and unveil your true goals. Then, we take those goals along with the facts of your case and analyze them so that we can present you with recommendations and options on how to move forward.
