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Our Trusted Legal Team In Torrington - Advocating For You At Every Step

Marital Property Division Attorneys

When you and your spouse decide to divorce, everything you own together must be divided according to what is fair and equitable. Dividing your property can be challenging and unexpectedly emotional. Because the property settlement you receive will likely comprise much of your finances for some time, it is essential that your rights and interests are protected throughout the property division process.

Our divorce lawyers at The Law Offices of Conti, Levy, Salerno & Goodrich, LLC have decades of experience in family law and divorce matters. Our lawyers work diligently to achieve fair property settlements for their clients in settlement negotiations, through mediation and collaborative law, and when necessary, in divorce litigation.

Dividing And Defining Marital Property

During the divorce process, marital property must be identified, valued and divided. Our divorce lawyers work with experts like appraisers, accountants and other specialists to assess the value of marital property.

The Difference Between Marital And Non-Marital Property

Connecticut is an equitable division state. This means that all marital property is divided according to what is fair and equitable. Marital property includes any property, assets or liabilities purchased or acquired throughout the marriage. Non-marital property includes anything owned prior to or after the marriage, inherited by one spouse or given specifically to one spouse.

How Is Real Estate Divided In A Divorce?

Several factors are considered when deciding how to divide real estate, including:

  • For the marital home, whether the couple has children and if so, which parent retains primary custody
  • Whether one spouse owned the property prior to marriage and the other spouse was never added to the deed
  • Whether the spouse’s name was added to the deed during the marriage
  • Whether one spouse made a significant contribution to the property, such as paying mortgage payments or a significant improvement
  • Whether marital property was used to pay for the mortgage or repairs
  • The increase in the property’s value during the marriage

The court will take your unique situation into consideration when deliberating how or whether the property should be divided.

Determining The True Value Of Your Business

If a spouse owns a business, the value of the business must first be determined in order to divide property and assets fairly and equitably. Determining the true market value of the business essentially means arriving at the value of what it would be worth if it were sold today.

This can be a complex number to calculate. At The Law Offices of Conti, Levy, Salerno & Goodrich, LLC, our divorce lawyers will utilize business valuation specialists and tax accountants to examine the size, profits, assets, predicted worth and more of your business. Our dedicated, thorough approach allows us to determine an accurate value.

What Are Your Options For Dividing A Business?

If one or both of you are business owners, you may fear losing your business due to the dissolution of your marriage. Fortunately, there are many options available, including:

  • One spouse could retain ownership of the business and negotiate the departure of the other
  • The business could be sold to a third-party buyer should neither spouse wish to retain the business or a buyout agreement cannot be reached
  • The business could be liquidated should simply closing the business be in the best interests of all involved
  • You and your spouse could swap assets of equal value.

The option that works best for you and your spouse will be highly dependent on your circumstances. We will work with you to determine all available options for the future of your company.

Working To Reach A Resolution

Dividing a business in the courtroom can get combative. Our divorce lawyers will work to resolve complicated family law issues through a more collaborative setting, such as mediation or collaborative law. However, we understand that there may be situations when an amicable resolution is not an option. In such cases, we are prepared to ardently represent you, your business and what you have worked hard to create in the courtroom.

Contact Us For A Free Consultation

Call The Law Offices of Conti, Levy, Salerno & Goodrich, LLC, at 860-866-4637 or contact us online to learn more about dividing marital assets. We represent clients in Litchfield County and throughout northwest Connecticut. Se habla Español.