When a Connecticut marriage dissolves, the division of property can be difficult. The couple and their representatives will look at everything from prenuptial agreements to property obtained during the marriage. While most items can be valuated for a final determination, this is difficult when working with investments and business interests that may have minimal value today but excellent potential for the future. These assets require special care and treatment.
When Connecticut residents divorce, any spousal support that is awarded is generally a certain amount per month for a specified period of time. A change in circumstances of either party may provide grounds for reopening the issue, and cohabitation is one change in circumstance that could be used to reduce or terminate the original award.
Families in New Haven can turn to the courts for assistance if they believe that a former spouse is hiding income in an attempt to make lower child support payments. In a heavily publicized case, a man earning millions of dollars a year has tried to have his income information shielded through the courts. However, the courts have sided with the man's ex-wife that determined that his financial information should be made public and introduced at trial.
Connecticut spouses amidst divorce proceedings may be concerned with the definition of premarital property. An Oklahoma District Court judge recently issued a statement on Feb. 13 that defined premarital assets during the divorce case of a billionaire. Oil tycoon Harold Hamm owns the controlling interest in Continental Resources, and he is involved in a divorce case with his wife. Investors have been waiting to hear how the court will divide the man's stock shares of Continental Resources.
Connecticut parents who have gone through divorce or separation know the emotional toll that this can take on themselves and their children. A new child support app hopes to help homes run more like a business and take the sting out of the system. The subscription-based service provides an app for parents who may need an easier way to deal with the record-keeping and math involved in tracking child support payments. However, its ultimate goal is to become a toll for family financial management.
Baseball fans from Connecticut may be interested to learn that Frank McCourt, the former owner of the Los Angeles Dodgers, recently filed a lawsuit against his ex-wife. According to the report, McCourt is seeking approximately $2 million in legal fees after she contested the terms of their divorce settlement, erroneously. A hearing was set for March 12.
When a married couple files for divorce, a judge may order one of the parties to make monthly spousal support payments to the other party. Alimony payments will sometimes end after a set period of time, which may be determined by the length of a marriage. An ex-spouse's remarriage to another person will also terminate the spousal support obligation. In Connecticut, alimony payments may also be stopped when the recipient begins cohabitating with another person.
Divorced parents in Connecticut may be interested in the case of a Texas father who began a six-month jail sentence due to a reported clerical error. This strange child support issues began when the father realized that his automatic withdrawal payments for child support had been interrupted. He quickly paid off the balance and included an additional $1,000.
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.
Connecticut couples facing divorce proceedings may be aware of the difficulties of arranging appropriate spousal and child support. Some think that having a prenuptial agreement absolves them of the need to negotiate in the future, but a recent divorce case suggests otherwise. In this particular case, a married couple made a prenuptial agreement that stated, in the event of a divorce, gifts and inheritances received individually would not be subjected to division. Similarly, growth and appreciation from individual business efforts would also not be divided.