There’s a reason divorce is regarded as such a significant life change. Aside from familial relationships, divorce can affect everything from your home, retirement, and anything in between. Who gets or loses certain property in a divorce is among the most common questions people have about the process.
Unlike states that divide a couple’s property 50-50, Connecticut uses what is called equitable distribution. Under equitable distribution, a court can divide the marital estate how they see fit. A judge may still determine that 50-50 is the fair share for each party, but under state law can award any or all of one spouse’s estate to the other spouse.
What property will you lose or gain?
The good news is the law lays out specific criteria for courts to use in their decision-making. Your ruling is not random. Some of those criteria include:
- The length of the marriage and the reasons for the divorce
- The earning potential of each spouse, including education and their ability to work
- Each spouse’s income and sources of income
- Both spouse’s contribution to the estates
What you stand to gain or lose in your really depends on your unique circumstances. There is no all-encompassing answer to this question. Yet, because of how dependent the outcome of your case is, it’s important to ensure you receive all the property the law entitles you to. Similarly, it’s also important not to lose more property than you should. The facts of your divorce are unique and require a customized legal strategy to ensure the best possible outcome.