A marital dissolution (the legal term for divorce) tends to be emotional and often overwhelming. If you are contemplating divorce, or already commenced the dissolution process, you likely have many questions regarding the legal procedures and financial issues involved. One of the most significant financial matters facing the parties is what happens to their home, which is typically the parties’ largest asset. The Law Offices of Piazza, Simmons and Grant LLC has the divorce lawyer Connecticut who will address all of your concerns and counsel you during this complex legal process. Our firm provides clients with the highest degree of legal representation.
Valuing and Allocating the Home
The divorcing parties have two options regarding their home:
- they can resolve the matter between themselves; or
- they can litigate the matter before the Court.
Should the parties settle the marital home between themselves, some of their options include selling the home and dividing the proceeds, one spouse awarding the home to the other, or one spouse buying out the other.
If the parties are unable or unwilling to settle the issue of their residence between them and their legal counsel, the Court will intervene and make the decision. When the Court considers how to allocate the parties’ assets and debts, including the marital home, it [the Court] follows the “equitable distribution” method of property division, which means the property is rarely split 50/50, but instead is divided fairly, or equitably.
Connecticut family law courts have broad authority to award the parties’ home to either spouse in a divorce, regardless of who holds title, when the property was acquired, the source of funds used to acquire it, and/or how it was acquired (e.g. received as a gift or inheritance). Equitable distribution is based on the idea that property should be divided as fairly as possible,
Our divorce lawyer Connecticut will thoroughly advise you regarding all options available regarding the allocation of your marital home.
Consulting and Retaining a Divorce Lawyer Connecticut
Dissolving a marriage is an emotionally charged and stressful event. The financial issues, such as dividing assets and debts, particularly the marital home, create another layer of complexity. The Law Offices of Piazza, Simmons and Grant LLC possesses the requisite experience, knowledge, and skill to address all of those issues and more. Our firm will provide you with superior representation and support at every stage of your dissolution.
Please contact the Law Offices of Piazza, Simmons and Grant LLC at (203) 348-2465 to confer with a divorce lawyer Connecticut to discuss your dissolution.