During the course of your marriage, you may inherit certain assets or property from loved ones, either after they pass away or while they are still alive. Although in most states these inherited items are considered the separate property of the individual who received them, Connecticut is one of a handful of states that generally considers them shared assets. This means that inheritances are likely to be factored into the division of marital property if you are seeking a divorce from your spouse.
In what has been one of the most expensive divorce settlements of all time, the wife of oil baron Harold Hamm received nearly $1 billion in a court ruling issued in early November. However, Sue Ann Hamm's attorney says she will appeal this amount, as it represents only about 6 percent of the fortune she and her husband, Harold Hamm, have amassed over the course of their 26-year marriage.
One of the most significant challenges divorced parents face is figuring how they can maintain consistent discipline and expectations for their children, especially if the kids split time between the two parents' homes. It's common for disputes to arise, for example, when one parent has different standards than the other.
Going through a divorce can be an expensive process, especially if there are high-value assets involved or significant tension between you and your former partner. However, even when a divorce is headed toward an amicable settlement, it can be very difficult to divide marital property, financial assets, debts and items of value as you plan for a life without your spouse.
A recently released study from Pew Research found that about 40 percent of all new marriages in 2013 included at least one spouse who had been previously married, and nearly 20 percent were between couples in which both partners had been married in the past.
One noticeable trend in family law over the past several years has been the tendency of couples to remain legally separated for long periods of time without actually getting divorced. In many situations, they make the decision to do this because of financial concerns.
If you're going through a divorce in Connecticut and are concerned about money, you might think about forgoing legal counsel and representing yourself. This is not a good idea for a number of reasons, and could leave you with a situation that comes back to haunt you in the months and years to come.
New Jersey Governor Chris Christie recently signed a bill in his state that includes a number of key changes to current alimony laws. Although some advocates say the reform effort does not go far enough, it does change many aspects of a system that some have described as archaic and unfair.
Understanding the consequences of legal actions is particularly important when considering the termination of parental rights in Connecticut.
Before the wedding is not the only time to plan and protect your financial future during marriage. A postnuptial agreement is the answer for a growing number of couples.