Your Skilled Marital Property Law Representation
Our Connecticut and New York attorneys understand that the financial implications of a divorce can be as devastating as its emotional impact. Call or e-mail an experienced marital property lawyer at The Prince Law Group, LLC, today.
Our assertive divorce attorneys have more than 30 years of experience in assisting clients with all effects of dividing marital property. We routinely assist clients facing the following issues:
- Tax implications of the divorce settlement and property division
- Investigation of hidden assets
- Distribution of property and debt
- Prenuptial agreement ramifications
- Asset valuation, including businesses, pensions, stock options, employee benefits, home and vacation property
When splitting assets in a courtroom, it is important to know how your state’s laws can impact the outcome.
How Does New York Divide Property?
New York courts use the “equitable distribution” system to separate assets in a divorce. The primary goal of this system is to split the marital assets in a manner that is as fair as possible to each spouse. It is important to note that “fair” does not always mean that assets will split in a 50/50 manner.
How Does Connecticut Divide Property?
Compared to New York, Connecticut courtrooms take a different approach to asset division. These courts consider all assets in a marriage as marital property, instead of splitting it into marital and separate property. In an “all-property” state like Connecticut, everything you and your spouse have is on the chopping block in your divorce.
Common Misconceptions About Property Division
Myth #1: Some assets are not subject to distribution.
The fact is, if you had property before you were married, received a gift, or inherited property, these will all be subject to an “equitable” distribution. The skilled lawyers at the law firm of The Prince Law Group, LLC, know that “equitable,” however, is not necessarily the equivalent of “equal.” The longer the marriage has lasted, though, the more assets might be considered available for distribution to both spouses. Connecticut laws require that all assets “go into the pot,” from your 401k to the cookie jar fund.
Myth #2: There is an equal division of all assets when a marriage breaks.
Truthfully, judges do take individual circumstances into consideration. There is no law mandating an exactly equal split of marital property. If one party’s health is poor, for example, a judge may weigh the party’s future medical bills into the marital property division equation. Please consult us for details on your particular circumstance.
Our Experience Can Be Your Advantage
Our broad experience from decades of practicing law will help you to obtain the most favorable result based on your situation. The Connecticut marital property attorneys at our Atlantic Street law firm will aggressively work to protect your assets and property.
Meet With Our Dedicated Team
The effect of your divorce settlement on various taxes can be quite costly if not addressed proactively and thoroughly. Contact a divorce property settlement lawyer at our law firm when you want a lawyer who understands and can guide you through all the financial implications of divorce property settlements.