Posts tagged with "marital property"

If I Am Still Living in Our Marital Apartment and Am on the Lease, Am I Legally Entitled to Remain in the Apartment?

If you are navigating a divorce and are unsure of whether you are entitled to retain residence over the marital property, it would be in your best interest to consult an experienced divorce attorney.  An experienced divorce attorney has likely handled this situation countless times and can educate you on the best manner to proceed.

If you have any further questions regarding divorce law in Connecticut, please contact Joseph C. Maya, Esq. at (203) 221-3100 or e-mail him directly at JMaya@Mayalaw.com.

If I Am Still Living in Our Marital Apartment and Am on the Lease, Am I Legally Entitled to Remain in the Apartment?

If you are navigating a divorce and are unsure of whether you are entitled to retain residence over the marital property, it would be in your best interest to consult an experienced divorce attorney.  An experienced divorce attorney has likely handled this situation countless times and can educate you on the best manner to proceed.

If you have any further questions regarding divorce law in Connecticut, please contact Joseph C. Maya, Esq. at (203) 221-3100 or e-mail him directly at JMaya@Mayalaw.com.

How Is Marital Property Distributed in a Divorce Proceeding in Connecticut?

Marital property is any asset – from real estate to savings accounts to home furnishings – that was purchased or obtained before or during the marriage that remains the property of either party of the marriage at the time of the divorce.  In Connecticut, courts have the authority to divide marital property and will consider a number of factors to arrive at a fair division of these assets.  In many cases, courts will divide the assets evenly, particularly where the parties have been married for a long time.  However, the court may, in its discretion, award more assets to one party.

The factors considered in making this determination are: (1) the age of the parties; (2) the health of the parties; (3) the station of the parties; (4) the parties’ respective occupations; (5) the amount and sources of the parties’ income; (6) the party’s liabilities; (7) any relevant special needs; (8) each party’s future earnings capacity and prospect for the acquisition of capital assets and income; and (9) the contribution of each of the parties in the acquisition, preservation, or appreciation of the assets.

If you have any questions related to divorce proceedings in Connecticut, please contact Joseph C. Maya, Esq. at (203) 221-3100 or e-mail him directly at JMaya@Mayalaw.com.

How Is Marital Property Distributed in a Divorce Proceeding in Connecticut?

Marital property is any asset – from real estate to savings accounts to home furnishings – that was purchased or obtained before or during the marriage that remains the property of either party of the marriage at the time of the divorce.  In Connecticut, courts have the authority to divide marital property and will consider a number of factors to arrive at a fair division of these assets.  In many cases, courts will divide the assets evenly, particularly where the parties have been married for a long time.  However, the court may, in its discretion, award more assets to one party.

The factors considered in making this determination are: (1) the age of the parties; (2) the health of the parties; (3) the station of the parties; (4) the parties’ respective occupations; (5) the amount and sources of the parties’ income; (6) the party’s liabilities; (7) any relevant special needs; (8) each party’s future earnings capacity and prospect for the acquisition of capital assets and income; and (9) the contribution of each of the parties in the acquisition, preservation, or appreciation of the assets.

If you have any questions related to divorce proceedings in Connecticut, please contact Joseph C. Maya, Esq. at (203) 221-3100 or e-mail him directly at JMaya@Mayalaw.com.

Royalties from Book Sales Significant Income, Reconsideration of Property Division in Light of Double Dipping

In a recent post-judgment divorce action, the Appellate Court of Connecticut found that royalties from book sales constitute a significant source of income, and cannot be subject to both property division and alimony determinations.

The plaintiff, husband, and the defendant, wife, were married in 1992. However, in September 2009, the court rendered judgment dissolving the marriage due to irretrievable breakdown. Pursuant to the divorce decree, the court distributed the assets and liabilities of the marital estate and issued a number of financial orders, many of which the husband contested on appeal. Most notably, the husband had written and published a book, and per court order was required to pay the wife 30% of the value of the unsold books as well as 30% of all income he receives in the future from the sale of the books. The husband contended that this order was improper.

Intellectual property interests are considered marital property subject to division in a divorce action, as long as the proceeds are neither indefinite nor speculative. When a marital asset is considered for both property division and alimony awards, double dipping generally does not occur unless the asset assigned to nonemployee spouse was also counted in the court’s determination of the employee spouse’s resources when determining alimony. In other words, assets that do not produce significant income may be considered for both purposes, whereas assets that do produce such income cannot.

In this case, the Appellate Court found that the husband’s inventory of books constituted a significant source of income, as they produced a significant stream of income in the form of royalties (exceeding $50,000 in approximately one month). The lower court properly granted 30% of the royalties to the wife as alimony. However, also awarding 30% of the value of the unsold books as property division constituted impermissible double dipping. Therefore, the Appellate Court remanded this part of the case for reconsideration.

Whether advancing or defending a post-judgment motion regarding awards of alimony and assignment of property, a divorced individual is best served by consulting with an experienced family law practitioner. Should you have questions regarding matrimonial matters, please do not hesitate to contact Attorney Joseph C. Maya in the firm’s Westport office in Fairfield County at 203-221-3100 or at JMaya@Mayalaw.com.
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Our family law firm in Westport Connecticut serves clients with divorce, matrimonial, and family law issues from all over the state including the towns of: Bethel, Bridgeport, Brookfield, Danbury, Darien, Easton, Fairfield, Greenwich, Monroe, New Canaan, New Fairfield, Newton, Norwalk, Redding, Ridgefield, Shelton, Sherman, Stamford, Stratford, Trumbull, Weston, Westport, and Wilton. We have the best divorce attorneys and family attorneys in CT on staff that can help with your Connecticut divorce or New York divorce today.

If you have any questions or would like to speak to a divorce law attorney about a divorce or familial matter, please don’t hesitate to call our office at (203) 221-3100. We offer free divorce consultation as well as free consultation on all other familial matters. Divorce in CT and divorce in NYC is difficult, but education is power. Call our family law office in CT today.

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Connecticut Supreme Court Defines “Dissipation of Marital Assets” in the Context of Divorce Proceedings

Clients often express concern over the manner in which their soon to be ex-spouse expended marital funds during the course of their marriage, and ultimately inquire as to whether the court will consider the dissipation of assets when dividing the marital estate. The Connecticut Supreme Court addressed this very issue in Gershman v. Gershman, 286 Conn. 341 (2007).

In Gershman, the parties were married for approximately twenty years and were the parents of three minor children. With respect to the wife’s claim that the husband dissipated assets, the lower court found that in 2002, the husband invested $105,000 in a series of partnerships, which at the time of trial were only valued at $31,074. The court further found that during the marriage, the parties agreed to spend approximately $500,000 to build a new home; however, unbeknownst to the wife, the husband ended up spending well over $900,000.

In entering its orders, the trial court explained that the defendant had made a bad investment decision with respect to the aforementioned partnerships and that he was responsible for the cost overruns for the parties’ new home, causing them to lose $200,000 when it was sold. The court ultimately stated that, “The matter of the dissipation of family assets ha[d] been taken into consideration in the overall asset division.”

The husband appealed, claiming that the trial court improperly concluded that he had dissipated family assets. In reviewing the law of several other jurisdictions, the Connecticut Supreme Court explained that a poor investment decision or the use of marital assets to purchase marital property alone does not constitute dissipation. Rather, courts generally require that a marital asset be used for a non-marital purpose. Some courts have concluded that dissipation only occurs where a spouse acts in bad faith with an intent to deprive the other spouse of marital assets. In such cases, there must be some evidence of willful misconduct, bad faith, or an intention to dissipate marital assets before a court may alter the equitable distribution award. Taking those general concepts into consideration, and ultimately ruling in the husband’s favor, the Connecticut Supreme Court concluded that, “at a minimum, dissipation in the marital dissolution context requires financial misconduct involving marital assets, such as intentional waste or a selfish financial impropriety, coupled with a purpose unrelated to the marriage.” Gershman at 351.

Should you have any questions regarding the dissipation of marital assets, or divorce matters generally, please feel free to contact Attorney Michael D. DeMeola, Esq. He can be reached in the firm’s Westport office at (203) 221-3100 or by e-mail at mdemeola@mayalaw.com.
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Our firm in Westport serves clients with divorce, matrimonial, and family law issues from all over the state including the towns of: Bethel, Bridgeport, Brookfield, Danbury, Darien, Easton, Fairfield, Greenwich, Monroe, New Canaan, New Fairfield, Newton, Norwalk, Redding, Ridgefield, Shelton, Sherman, Stamford, Stratford, Trumbull, Weston, Westport, and Wilton.

If you have any questions or would like to speak to an attorney about a divorce or familial matter, please don’t hesitate to call our office at (203) 221-3100 for a free consultation. Divorce is difficult, education is power. Call today.

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