There are various ways of ending a marriage in Connecticut. One of the ways is a dissolution of marriage, a second way is a legal separation and a third way, which applies in very limited cases, is an annulment. In Connecticut, a divorce is legally termed a dissolution of the marriage. It is applied when one or both spouses in a legal marriage seek a court process to end the union Within a dissolution proceeding, court orders dealing with child custody, visitation and support, alimony, division of property and name changes are made.
As residents of Connecticut who are contemplating divorce may know, some former spouses may receive alimony that is either awarded by the court or agreed to by the spouses. The reason for alimony is to allow the lower-earning spouse or one who has not been employed during the marriage to maintain his or her standard of living and improve job skills so they may become self-supporting.
Alimony is an amount of money that one party must pay to the other after a divorce. It is considered the continuing obligation of the party to support the former partner until the recipient gains financial stability or remarries. Alimony in Connecticut can be ordered by the court in a number of ways. It may be payments over time for a definite period, it may be a lump sum payment or it may be a permanent payment until the spouse dies or remarries.
Alimony, also known as spousal support, is typically given by the spouse with a greater income to the spouse with a lesser income. This is designed to help the transition more smoothly into a life outside the marriage. In some cases, alimony is only temporary, presumably while the lesser-income spouse becomes more employable. In other cases, it may be deemed that the lesser-income spouse requires permanent alimony. All spousal support decisions are handled on a case by case basis.
Connecticut investors may be interested to learn that the ex-wife of an oil magnate may score the largest divorce settlement in history. According to the report, the 68-year-old Oklahoma man was estimated to be worth $20.2 billion, with much of that wealth being accumulated during his 26-year-old marriage.
Connecticut couples who are going through a divorce may find that working out the terms of the divorce can create arguments that not only financially drain both individuals but also create emotional strain. In some cases, couples who are having trouble with property division, child custody or alimony may be able to work out agreements through mediation.
Some people in Connecticut facing the end of a marriage might feel that the person who walks away with the most money in the property settlement is the winner. This is a common approach to divorce but not often an ideal strategy for several reasons. Some couples own assets that are not liquid and therefore cannot be easily sold and divided. Furthermore, divorce settlements can affect the remainder of people's lives, especially their retirement. A settlement with a larger short-term financial gain may not be what is best for the future.
Connecticut movie buffs have probably heard of Terrence Howard because his film credits include "Hustle & Flow," "Iron Man" and "The Butler," but Howard claims the movie business has not provided him with a lavish income because of a divorce settlement. The actor recently said he cannot pay spousal support for $325,000 to his second wife because a majority of his income goes to pay his support obligations to his first wife and their children.
Many Connecticut readers are probably aware of the power of social media. Now, some agencies are using it as a tool to track down deadbeat parents who have not been making required child support payments.
Couples in Connecticut and across the nation who are considering divorce may be interested to know that even if a couple considers themselves separated, they may not be viewed as separate entities by lenders. Even if an individual no longer lives with his or her spouse, that spouse may be able to claim ownership of any property purchased before the divorce is finalized. In addition, the debt that a couple jointly holds may be included in any mortgage that an individual tries to get.