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What to know about high-asset divorce in Connecticut

On Behalf of | Aug 7, 2021 | Divorce

A high-asset divorce involves complex issues relating to division of property, marital assets and child custody. The primary income earner may have concerns about his or her liability for monetary support. The at-home spouse may have fears about post-divorce financial security.

Connecticut laws address the effect of income and wealth upon property division and child custody arrangements.

Connecticut divorce laws

  1. Connecticut is an equitable distribution state.
    Equitable distribution means a fair division—but not necessarily an equal division—of marital assets.
    The factors determining asset distribution include:
  • Length of the marriage
  • Spouses’ ages and health
  • Amount and sources of income
  • Spouses’ education and employability
  1. Connecticut is a no-fault state.
    The court may grant a no-fault divorce if the parties demonstrate:
  • An irretrievable breakdown of the marriage
  • Incompatibility
  • No possibility of reconciliation

However, factors such as desertion or intolerable cruelty can affect alimony and property decisions.

Connecticut child custody and support laws

  • Child custody and visitation
    If parents do not agree on custody and visitation, the court will determine each parent’s custody and visitation rights.
  • Child support
    The court may order a non-custodial parent to pay child support depending on his or her income.

Whether you are a stay-at-home parent or a corporate executive, your concerns during a divorce may be the fair distribution of assets and the best outcome for your children. Investing in research about high-asset divorce may enable you to wisely consider your options and achieve a quick and peaceful settlement for your family’s well-being and stability.