What can I expect a settlement to look like?
It is a good idea to plan carefully for a divorce, and to have some idea of what you hope your financial picture will look like once the divorce papers have been signed. Unfortunately, unless you have an iron-clad pre-nuptial agreement with your spouse, there is almost no telling in advance what you will have to give up and what you can keep.
The issue of divorce often arises because of sudden or drastic alterations in a family’s financial picture. Loss of a job, investment losses, business reversals, the discovery of large debts or wasteful spending: all these things can set into motion a chain of recriminations that leads to the breakdown of a marriage. Similarly, a demand for divorce may generate severe depression, thereby causing a person to lose a job or to make poor personal and investment decisions.
If you are lucky, your house will have appreciated in value since you were married. However, even if your real estate valuation and your taxes are now higher, this does not mean that you will be able to recoup your full investment in a forced sale driven by the need to comply with a divorce settlement that requires the house to be sold and the proceeds divided equally. Finding another equally comfortable and attractive place to live for your portion of the sale price might require moving several hundred miles south or west, and commuting to work from there might be out of the question.
If your life has mostly been on an even keel up to now, consider yourself forewarned that you are now likely in for some rough patches. Your financial and personal behavior may be subjected to microscopic analysis from a spouse determined to walk away with the lion’s share of your joint property.
Once you understand better the stakes and pitfalls of a divorce battle, you will quickly come to appreciate that the only way to navigate these troubled waters successfully is to engage the best divorce attorney you can find. If you live in New Haven or Fairfield County (Danbury, Stamford, Westport, Bridgeport), contacting Attorney Carmina Hirsch, principal attorney at Hirsch Legal, LLC, recognized as one of Connecticut’s top family practices, will help set you on the right path to protecting your rights and interests.