Divorce becomes an even more contentious issue in Connecticut when property division enters the equation. In a contested divorce, where the spouses cannot agree on one or more matters, property division can require compromise or even end up in court. Several factors can complicate property division in a contested divorce, including the length of the marriage, the earning potential of each spouse and the specific assets involved.
Real estate
Any property the couple owns, such as a family home, vacation property or investment property, will need to be divided during divorce. Real estate division can be particularly complicated if there are mortgages or other liens on the property.
Retirement accounts
Any retirement accounts that the couple accrued during their marriage will need to be divided. This can include 401(k) accounts, IRAs, pensions and other retirement plans.
Investments
Any stocks, bonds or other investment vehicles that the couple owns are also subject to division between the spouses. The process becomes particularly complicated if the investments have increased in value during the marriage.
Business assets
If one or both spouses own a business, the assets associated with the business will need to be divided. This can include the business itself, as well as any intellectual property, equipment or inventory.
Factors the court will consider
The court will consider a variety of factors when making its decision, including the length of the marriage, the earning potential of each spouse, the contributions each spouse made to the acquisition of the property and any other relevant factors.
Navigating the property division process
Property division during a contested divorce can mark a contentious end to the years of coexistence between two people. It is an unfortunate, but necessary, process that allows each of the parties to start a new page in their lives.
