Gavel Insight

Navigating divorce in Connecticut can be a complex journey, and few aspects are as critical, or as frequently debated, as the accurate valuation of shared assets. When a marriage ends, the financial landscape built over years, sometimes decades, must be meticulously unwound and fairly divided. Unlike some other states, Connecticut follows the principle of "equitable distribution," meaning marital assets are divided fairly, but not necessarily equally. This distinction is crucial and underscores why a precise valuation of every shared asset is not just important, but essential for a just outcome. Connecticut General Statutes § 46b-81 grants the court broad discretion in assigning marital property. The court considers a host of factors, including the length of the marriage, the cause for the dissolution, the age, health, station, occupation, amount and sources of income, vocational skills, employability, estate, liabilities and needs of each of the parties, and the o...

Introduction to Uncovering Hidden Assets in Connecticut Divorces Divorce is a complex and emotionally challenging process. When significant assets are involved, the stakes are even higher. In Connecticut, as in other states, all marital property is subject to equitable distribution. This means that assets acquired during the marriage are divided fairly, though not necessarily equally, between the parties. However, a fair division can only occur if all assets are properly disclosed. Unfortunately, some individuals attempt to conceal assets during a divorce to avoid sharing them with their spouse. This article provides a guide to uncovering hidden assets in Connecticut divorces and protecting your financial future. Understanding Marital Property in Connecticut Before delving into how to uncover hidden assets, it's crucial to understand what constitutes marital property under Connecticut law. Generally, marital property includes assets acquired from the date of marriag...

Understanding Debt Division in Connecticut Divorce 📌 In Connecticut, the division of debt follows the principle of "equitable distribution," meaning debts are divided fairly but not necessarily equally. Courts consider factors such as income, contribution to the marriage, and financial needs. 📌 Both marital and separate debts are evaluated. Marital debts are those incurred during the marriage for the benefit of both spouses, while separate debts belong to one spouse and are typically not divided. Key Factors Courts Consider in Debt Division 🔹 Who incurred the debt? If a debt was taken on by one spouse without benefiting the other, that spouse may be solely responsible. 🔹 Purpose of the debt. Courts assess whether a loan or credit card charge was used for family expenses or personal spending. 🔹 Ability to pay. If one spouse has a significantly higher income, they may bear a larger portion of joint debt. 🔹 Prenuptial agreements. If a prenup outlines specific terms for ...