Parties to a divorce action in Connecticut are often concerned about whether they are entitled to assets in their spouse’s name. For example, what if only your name is on the deed to the family home? Does that mean that you get to keep it? The answer is: Not necessarily!
In Connecticut, all assets, no matter how they are titled or how they were acquired, are considered marital assets and subject to equitable distribution by the Court.
Equitable distribution does not mean that the assets are automatically divided 50/50. There is no specific formula for dividing assets in a Connecticut divorce. Instead, Connecticut has a statute that sets forth a number of factors that must be considered by the Court.
Some of these factors are: the length of the marriage, the causes of dissolution, the ages, health and occupation of the parties, amount and sources of their income, the employability, liabilities and needs of the parties, and each party’s contribution to the assets.
It’s important to note that equal weight may not be given to each of these factors. It is in the Judge’s discretion to weigh these factors based on the circumstances of the case and to appropriately divide the assets.