Lawyers Handling Marital Property Division in Divorce
At the Norwalk, Connecticut, law firm of Kimmel & Kimmel, LLC, we understand that property division during divorce, including assets and debt is very emotional. Even in relatively amicable divorces, marital property often represents years of memories. It can be both treasured and extremely valuable. Marital debts can be substantial liabilities.
We recommend that all divorcing clients seek sound legal advice about property division from an experienced divorce attorney. Whether you are interested in negotiating a settlement or believe your divorce will go to trial, there are legal issues that can affect your long-term finances and interests.
At Kimmel & Kimmel, LLC, our attorneys have many years of experience handling marital property division in divorce. We will provide straightforward, accessible answers and protect your best interests during the often challenging times of a divorce.
Contact us today to schedule a free consultation with a lawyer.
Division of Marital Assets and Debt
In Connecticut, asset and debt division during divorce is not necessarily a 50-50 split but an "equitable division." When deciding whether property should be subject to division and what is fair, it considers a number of factors, such as when the property was acquired, whether the property was a gift, the income and other contributions of each spouse, and the length of the marriage.
For most people, the family home is the most substantial asset. In today's challenging housing market, however, it is can difficult to sell a house and move on to your new life quickly. Our attorneys can suggest a number of options, including:
- Selling the home now, possibly as a short sale or undervalued property
- Letting one spouse live in the home for now and planning to sell it later
- Selling the home to your spouse or buying your spouse out
Besides real estate, marital assets such as retirement accounts, 401(k) plans, military benefits, family businesses and valuables acquired during the marriage must be distributed equitably. Our firm can explain how these assets are valued, the rules for dividing them, and how they will be distributed. If necessary, we can work with accountants and business valuation professionals to arrange at an equitable split
You and your spouse are responsible for debts acquired during the marriage, including mortgages and credit card debt. Debts acquired before the marriage, such as student loans, are typically the responsibility of the spouse who took them out.
Contact a Norwalk Family Law Attorney at Kimmel & Kimmel, LLC
The attorneys of Kimmel & Kimmel, LLC, have years of experience resolving property issues in divorce and handling other family law disputes. Our goal is to protect your interests and arrive at a fair solution in a timely manner.
Schedule a free, confidential initial consultation about your property rights during marital property division. Contact Kimmel & Kimmel, LLC online or by calling 203-803-2942.