In all divorces, but perhaps especially in high net worth cases, the division of marital assets is the most complicated aspect of the process. Siegel & Kaufman, P.C., focuses its practice on these cases, and all of our attorneys have highly developed skills in this particular area of law. We understand your concerns and work with efficiency to protect your interests and obtain the best outcome possible. Our emphasis is on out-of-court solutions, but we are highly motivated litigators when necessary. We keep clients informed and involved throughout the case.
What Method Is Used To Divide Assets?
Connecticut divides marital assets using equitable distribution. Connecticut law is unique in that assets are subject to division without regard to:
- Title or legal ownership — It doesn’t matter which spouse’s name is on the property.
- Date of acquisition — Whether the property was obtained before or during the marriage, or after separation, it is still subject to division.
- Inheritance or gift — Connecticut law does not carve out property that is inherited or received by gift from the marital assets subject to the court’s jurisdiction for distribution.
Our team of highly trained attorneys understands the best way to manage property division in your case regardless of the amount and scope of assets, and we are prepared to work tirelessly to obtain results that work for you.
How Does Equitable Distribution Work?
Equitable distribution is not a straight 50/50 division of assets. Instead, the court considers many factors in a division of marital property in Connecticut. These include:
- The length of the marriage
- The reason for the end of the marriage, including fault
- The ages of the spouses
- The spouses’ general health
- The financial situation of each spouse
- Each spouse’s education
- Each spouse’s occupation
- Each spouse’s skills and employability
- Each spouse’s estate
- The family’s standard of living
- Each spouse’s debts and needs
- Each spouse’s ability to earn assets and income in the future
- The contribution each spouse has made to acquiring, preserving and appreciating assets
- Other factors
How Are Assets Valued In A Divorce?These factors allow the court to evaluate each spouse’s contributions to the marriage and future earning abilities. A spouse who has been a homemaker or stay-at-home parent is considered to have made a contribution to the marriage that is weighed in the distribution of the assets. The court considers the options the stay-at-home spouse has after a divorce and includes this as part of the evaluation. Siegel & Kaufman, P.C., has handled many divorces, including high net worth cases that involve nonworking spouses, and understands your concerns and needs. Our family law attorneys obtain settlements and judgments that fairly divide marital property and protect your future.
The valuation of assets in a divorce is one of the crucial factors that determine the outcome. Whether an asset is valued higher or lower drastically impacts your outcome and your future financial security. The court considers the value of an asset as of the date of judgment. Forensic accountants are often employed to pinpoint current accurate values. With more than 90 combined years of experience, our attorneys thoughtfully approach your assets and determine fair valuations.
Contact Us For An Appointment To Discuss Your Divorce
Make an appointment with Siegel & Kaufman, P.C., by calling our office at 203-326-5145 or by using our online contact form. Our flexible office hours provide the convenience you need. Located off I-95 at exit 9, our office is convenient to all of Fairfield County. Our firm handles only high net worth family law matters and is prepared to provide the counsel you need.