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Women in midst of divorce entitled to more than they might think

The division of marital property as part of a separation can be one of the most stressful parts of the process. Any Connecticut resident who has experienced divorce can attest to the fact that the financial portion of the divorce process is a complicated affair. However, it is important for women in particular to be fully briefed in what they are and are not entitled to during these proceedings, to ensure they are getting a fair share of the marital assets.

The most important demarcation to be aware of is what is considered "separate property" or property that will not be divided as part of a divorce. This definition can vary slightly from state to state, but generally speaking, separate property refers to assets accrued prior to the marriage, any inheritance not commingled with marital assets, personal injury payments, personal gifts or anything set aside by a prenuptial agreement. Usually, anything not included in this list falls under the category of "marital property" to be equally divided during a divorce settlement.

It may be beneficial for a woman to take stock of her husband's assets that may fall under a marital property category. For example, 401K plans or mutually purchased stocks can and should be evenly divided. Seeking out additional support to help determine whether or not an asset is eligible for division may also be helpful.

Ultimately, not all marriages work out, and not every divorce is amicable. In cases like these it is important for Connecticut women to be well-versed in their rights and responsibilities in a divorce settlement under state law. Foreknowledge of this kind can mean the difference between an equitable division of marital assets and an unfair separation deal.

Source: Forbes, "Divorcing Women: The Truth About Your Husband's 401(k) And Other Assets," Jeff Landers, Aug. 8, 2013

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