Those in Connecticut who are contemplating a divorce may have an interest in learning more about the process. Though many people are aware that divorce can indeed be an emotional affair for all involved, some may fail to also consider the financial implications that a divorce can have. As such, they may inadvertently invite a degree of complication into the divorce process than would otherwise be necessary.
A subject that may interest Connecticut residents, asset protection in divorce, is addressed in a recent Forbes article. Prenuptial agreements are one way people protect their assets from possible division at divorce, but these may be contested. Even if a prenup is upheld in court, litigation to defend it can be expensive.
The division of marital property can be complicated when there are liens involved. Liens can be placed when a spouse owes an unpaid debt such as taxes, child support or alimony that is not a part of the current marriage. In order for communal property to be sold, it is necessary that a lien be lifted or satisfied.
According to insiders, media titan Rupert Murdoch is finalizing the terms of his divorce from his wife of 14 years, Wendy Deng Murdoch. Connecticut residents may not have known that among their high-asset real estate holdings, the Murdochs own a vineyard and mansion in Bel Air worth $29 million, a penthouse apartment on Fifth Avenue purchased for $44 million from Laurance Rockefeller, and a Beverly Hills estate.
Once the decision to file for divorce has been made, Connecticut residents may wonder about the next step. Every divorce is different because of the specific facts and circumstances surrounding the spouses. However, there are some steps that divorcing parties can take to prepare for divorce negotiations and help ensure that they are able to receive things to which they are entitled.