Property Settlements

The state of Connecticut is an equitable distribution state. Any property that either party owns, whether it is property in their name alone, property jointly owned with their spouse or partner, property with an individual not party to the marriage or civil union, property either person may have brought into the marriage, or even inherited, is all subject to division between the parties. Connecticut’s property division law forces the Courts to take into consideration certain statutory factors in determining who will get what property in a divorce, legal separation, or the dissolution of a civil union.

It is important to choose a lawyer to represent you in the legal process that knows and understands what these factors are, how they are considered by the Courts, and who will help you negotiate a good resolution or be qualified to go to trial if negotiations fail. Karen Reynolds is a lawyer with more than 30 years’ experience in family law and divorce matters.

Some of the factors that are considered in making a property division are the parties’ ages, the respective health of each, and the duration or length of the marriage. The parties’ education, their employment history and ability to be employed in the future, as well as the cause for the breakdown of the marriage are other factors the Court and lawyers who practice family law must consider when dividing property. The nature of the property must be examined. Was it inherited or was it a gift? Is it property that has a value in the marketplace? Should it be sold, or should it be left undivided because it is producing income?

Property divisions can include items such as real property (commercial and residential), and personal property such as household furnishings, bank accounts, timeshares, retirement plans, deferred compensation accounts, and even businesses. It is important for you to have a representative through the negotiation process and in court, if necessary, who understands the laws that are relevant to each of these areas in order to insure the best results possible for you and your family.

The division of some property can yield unforeseen taxable consequences. Special orders allow parties to divide retirement assets without penalties or taxes. These special orders are called Qualified Domestic Relations Orders, more often referred to as a QDRO. Capital gains taxes can be a significant factor in the sale of real property or business assets. Attorney Karen Reynolds has the tools and resources to guide you to make choices about these assets in a financially sound manner.

The statutory factors used for dividing property are applied on a case by case basis. However, a lawyer with 30 years of experience can help clients manage their expectations and fully understand their rights with respect to the property of the marital estate. It is extremely important to hire an attorney who understands the current laws and who will guide you through the negotiation process to the best result for you and your entire family. It is also equally important to hire an attorney who is competent to take the matter to a trial in the event a reasonable resolution cannot be reached between the parties after good faith negotiations.

Our lawyer has spent many years assisting parties in creative ways, fashioning results that are case specific making them more meaningful and successful for the client. At the Law Offices of Karen Reynolds, LLC we know the relevant laws concerning property division. We can assist you through the negotiations and the determination of whether some or all these items belong in the marital estate for distribution or should be excluded as being the property of one or the other party for equitable reasons. In the event a court trial is necessary to help you divide your family’s assets or even protect them from division, our firm has the litigation skills required to take your matter to trial.

Call our office today for your free consultation.