Assets Owned Before Marriage In Connecticut
In a Connecticut Divorce, property can be divided by the CT Family Courts in manor that is fair, but not always equal
An important aspect of divorce affecting your financial future is property division. In Connecticut, all property owned by either spouse, including property acquired prior to marriage, is considered within the jurisdiction of the family court to divide and distribute in a manner the court deems fair, although the division is not necessarily equal. As your advocates, the divorce attorneys at Needle|Cuda in Westport fight to make sure you get the property you are entitled to upon divorce. That includes making persuasive arguments that you have a paramount interest in your premarital assets.
Connecticut’s “Equitable Distribution” Law covers Premarital Property
Connecticut gives judges broad discretion to consider all property acquired by either spouse before or during the marriage. How the division of premarital assets will be made depends on multiple factors, so it is important to demonstrate a stronger claim to an asset that was owned prior to marriage.
How to protect premarital property and assets in a Connecticut divorce?
Although all property is potentially subject to equitable distribution, there are measures you can take to shield property you owned before you were married. These include executing a prenuptial or postnuptial agreement designating certain assets as separate property that will be exempt from equitable distribution. Another such mechanism is keeping premarital accounts separate from family accounts and not using the funds in separate accounts to support family needs, thereby strengthening a claim for retention of those premarital accounts.
How are Valuation Increases of Premarital Property are treated in a Connecticut Divorce?
Not only the acquisition but also the preservation and appreciation of assets will factor into equitable distribution. Even if property is owned by one spouse prior to marriage, the other spouse’s involvement in its management or preservation can influence how the asset is treated. Take, for example, a business solely owned by the husband prior to marriage. If the wife had expertise in marketing that she applied in helping the business grow, but she took no salary for her work, her labor may strengthen her claim to a share in the value of the business.
Our Connecticut divorce attorneys are determined to protect your premarital property during equitable distribution and also to make sure that any contribution you’ve made to managing your spouse’s premarital assets are taken into account. We know what to expect in high net-worth divorce and we can protect your interests as we fight for the best possible outcome.
Contact our Westport, CT Divorce Attorneys to discuss property division a Connecticut Divorce and protection of Premarital Property
Needle|Cuda in Fairfield County helps clients throughout Connecticut obtain a fair share of the property divided during divorce. We provide highly responsive service and effective representation focused on positive results. To schedule a consultation, call us today at 203-557-9500 or contact our Westport office online.