When a marriage ends, the emotions can be overwhelming. However, the financial stakes can be just as daunting for couples with significant assets. As you go through the contentious process of divorce, you may wonder: does the reason for the split affect how a court will divide your hard-earned possessions?
In Connecticut, the grounds for divorce can impact the property division process. In this blog, we’ll delve into the intricacies of high-asset divorce and explore how the reason for your divorce can affect outcome of your property settlement.
Understanding the impact of fault in property settlement
In Connecticut, a court can only grant legal separation or divorce to couples if they have grounds for it. A judge can grant it if one of the following reasons is true:
- The marriage has broken down, and they cannot fix the relationship anymore.
- The couple has been living apart for at least 18 months.
- They got married based on false information.
- One spouse has neglected their partner for at least a year, or there’s a habit of excessive drinking or substance abuse.
- One spouse has been institutionalized for at least five years or sentenced to life in prison.
In divorce cases, judges are responsible for dividing marital property fairly, but this doesn’t necessarily mean a 50/50 split. Instead, they must consider all relevant factors to determine what they believe is a just and reasonable distribution.
One factor judges may consider is the reason behind the marriage breakdown. Even in no-fault divorces, where neither party is at fault for the divorce, the judge may still consider the circumstances leading to the divorce. If they believe that one spouse is more responsible for the marriage breakdown, they may award a bigger portion of the assets to the other party as compensation.
Protecting your assets
The reason for your divorce may seem personal, but it can have implications for your financial future. While state law doesn’t always consider fault in property division, there are instances where it can tip the scales in your favor. By understanding how the grounds for divorce can influence the property division process, you can better navigate the complexities of high-asset divorce and protect your interests.