In almost every divorce case, couples will have to arrive at a decision about the division of marital property and debt. This process can be difficult, or it can be relatively easy, depending upon how the couple approaches the decision making process and the support they receive from their attorneys.
At Volman Law, our goal is to help you reach a property settlement agreement as quickly and painlessly as possible. Connecticut has a 90-day waiting period for a divorce to be finalized. Our goal is to have your divorce case in court on Day 91. In order to reach that target, we provide our clients with skillful negotiation and mediation services to help them reach a satisfactory property settlement agreement.
Learn more about how we help our clients move forward with divorce and property settlement agreements. Contact our Shelton, Connecticut law office to schedule a free initial consultation with a divorce attorney. Don’t get bogged down by difficulties; allow us to help you settle issues quickly and fairly so the healing process can begin.
Division of Assets and Debt
Arriving at a fair distribution of marital assets requires several steps:
- Identifying marital assets
- Assigning them a fair market value
- Negotiating for their division or sale
If you and your former partner cannot agree on the value of an asset, we will work with an accountant to reach a valuation. This includes the analysis of pension plans, retirement accounts, stock options, and other types of assets.
DO NOT remove money from a 401k or pension fund without working with an experienced divorce lawyer. There is a right and a wrong way to handle the division of retirement funds. If this is not handled properly, you will be required to pay taxes and substantial penalties.
The Challenge of Upside Down Mortgages
In the past, rising home value meant that when a couple got divorced there would be equity in a home that each partner could use to begin a new life. Unfortunately, it is increasingly common to see upside-down mortgages in which the couple owes more than their home is worth in today’s real estate market.
If you are facing this situation, ask your Volman Law attorney about the option of a short sale of your home, whether you qualify for a reverse mortgage, or whether bankruptcy is the best option for you to regain financial stability.
For answers to your questions about marital property division and alimony, contact our family law office. Your initial consultation is always free, and we participate in several legal payment plans. We also accept Visa, MasterCard, Discover and American Express.
Get your questions answered - call me for your free, 20 min phone consultation (203) 929-7771