Alimony and Division of Assets
At COTLER LAW LLC, we understand the complex financial disputes that can erupt between divorcing spouses. With our attorneys on your side, you can receive thoughtful, diligent representation that protects your best interests now and in the future.
Asset Distribution: Division Of Assets And Debts
The assets and debts of the parties which have accrued during the course of the marriage are to be divided equitably between the marital partners during the divorce. The division is made by agreement of the parties, or by the court. If the court determines property division, it will rely on a number of statutory factors. Above all, it is important to recognize that an “equitable” distribution does not mean “equal” distribution. Assets to be considered could include:
- Retirement savings, including 401(k)s, IRAs and other plans
- Investments, stocks, funds and bonds
- Income from closely held companies and professional practices
- Family homes, vacation properties and other real estate
- Valuable collections
- Financial gifts to one spouse
- Children’s expenses
There are numerous unique aspects to the division of marital property that could influence the ultimate outcome. For instance, if parties to a divorce have high incomes; income derived from self-employment, a family or closely-held business, or extensive financial assets, the property division process can be extremely complicated. Full financial disclosure is very important, and failure to reveal assets could result in a reconsideration of the marital distribution of a divorce.
Alimony is a periodic payment of money from one spouse to another, for the support of the payee spouse. Connecticut has two kinds of alimony. Alimony pendente lite is temporary alimony available before trial; permanent alimony begins upon dissolution of the marriage. Alimony can be by agreement of the parties or by order of the court. An award of alimony is determined by statutory criteria. At COTLER LAW LLC, our lawyers advocate for you, whether you want alimony or want to avoid paying alimony.
Contact COTLER LAW LLC, in Stamford, Connecticut, for a free confidential consultation at (203) 977-2413 or complete the online contact form.