Home NEWS CONTACT US

Divorce Lawyers Willimantic CT

One of the questions most frequently asked of matrimonial attorneys is “What will the court award me in the divorce?” What the court does and does not consider a marital asset, of course, depends upon the circumstances surrounding the asset or property in question. A house purchased and jointly owned by the spouses with each contributing toward the purchase price, paying for the mortgage, and contributing to the maintenance and upkeep throughout the marriage would be considered a marital asset. The value of the house would be subject to distribution by the court where each party could reasonably expect an equal share of any equity in the property.

But what about property acquired by one spouse prior to marriage, through an inheritance, or in some other manner where the contribution to the purchase, maintenance, and value of the property is unequal?

The answer to who is entitled to what amount of such an asset will depend upon the circumstances of the case. Conn. Gen. Stat. § 46b-81 (c) requires the court to consider factors such as length of the marriage, the reason for the annulment, dissolution, preparation; the age, health, station, occupation, amount, and sources of income, earning capacity, debts, and even the ability to acquire more capital, assets, and income in the future. In addition, the court does consider the contribution of each of the parties in the purchase of the asset, its preservation, and its increase in value. And if inherited, how long ago did that event occur? The longer back in time the stronger the case that is now a part of a couple’s assets.

If you have questions about how your property or other assets will be divided in the event of a divorce, annulment, or legal separation, consult with a family lawyer to help you make the decisions that are right for you.

Divorce Lawyers Vernon CT

When preparing to end your marriage in Vernon CT, then you want assistance from the divorce lawyers at The Prue Law Group, PC. When you’ve decided to end your marriage, don’t forget to review your legal documents!  At The Prue Law Group, we have over 35 years of legal expertise serving eastern Connecticut. We would like to stress the importance of updating your estate plan and beneficiary designations. Your payable-upon-death savings, checking, and retirement accounts should be reviewed and amended. It is also critical to change Power of Attorney and health care forms. Our legal team will guide you in protecting your estate and your heirs prior to a divorce.

 

Review and Amend all Important Documents

If there is an impending divorce in your life, ask yourself:

  • Did I re-draft my will?
  • Have I updated my POA and health care forms?
  • Did I update my life insurance policies, 401Ks, annuities?
  • Have I named a guardian for my minor children?
  • Did I name new beneficiaries for my assets?

A divorce that is planned well protects your family and your assets. When minor children are involved, it is important that you and your spouse come to terms for their protection. You will want to agree on legal guardians for your children should something happen to both of you. Under Connecticut law, a divorce may invalidate an existing will or previous estate plan.

Drafting your will and estate plan prior to the finalization of the divorce avoids any questions concerning inheritance, assets, personal property, and life insurance. Update your Power of Attorney so your ex-spouse is not responsible for health care decisions.  Your legal team at The Prue Law Group will help you cover all the bases when preparing for a divorce.The attorneys at The Prue Law Group, PC are here to guide you through the unsettling, emotional time of divorce. Call The Prue Law Group at (860) 423-9231.

 

Divorce Lawyers | Vernon CT | The Prue Law Group, P.C.

divorce final

 

Issues that should be followed up with once your divorce is finalized….giving these due diligence now will prevent problems in the future…..

IF REAL PROPERTY WAS PART OF YOUR SETTLEMENT….

  1. Be sure the deed transferring it to you is actually recorded
  2. Be sure to change the homeowners insurance to reflect you as the new owner
  3. If there is a mortgage on the property, be sure its now in the name of the new owner…if you no longer own the property, you certainly do not want to the mortgage liability on your credit.

 

DO YOU HAVE DESIGNATED BENEFICIARIES…

  1. Is your ex-spouse a beneficiary on your life insurance..
  2. Don’t forget to check your IRA’s and other annuities and make necessary changes to the beneficiaries

 

DO YOU HAVE ESTATE PLANNING DOCUMENTS….

  1. Be sure to re-draft your will, power of attorney, healthcare agent, and any other documents done prior to the divorce, as they are now void