Cummings Law Firm
Request a free consultation!
203-754-7779
Menu Contact

Family Law Archives

Dividing an IRA in divorce

When couples in Connecticut divorce, asset division is often a primary concern. In many cases, Individual Retirement Accounts (IRAs) may be the couple's most substantial assets. Because of their significance within the marital estate, dividing these accounts can be a complicated process.

When contemplating divorce, whose needs come first?

Married couples in Connecticut and other states who have put the possibility of divorce on the table may question whether they should delay the process for the sake of the kids. If the situation is abusive, it may be impossible to stay. However, when parents believe that they do have a choice, they may simply delay the inevitable by remaining in a marriage that does little to satisfy their yearning for love, fulfillment and intimacy. Parents who are discussing divorce may want to consider the conditions under which it might be appropriate to put their own needs first.

Divorce follows a basic framework from start to finish

Although the issues that drive people to end their marriages may differ, people in Connecticut will navigate basic steps before completing a divorce. Factors such as children, finances and animosity between spouses might complicate matters, but essentially a divorce requires filing, responding, negotiating and agreeing.

Factors that may lead to a divorce

Although there is no way to say for sure if a couple will get divorced, there are factors that may increase the risk of a separation. For instance, if a person in Connecticut or elsewhere is married in their teens or after age 32, they stand a greater chance of divorcing. Age gaps may also a play a role in the success of a marriage as the odds of a divorce increase the wider the gap is.

When ending a marriage is better than staying married

Connecticut parents may be aware that a little more than 50 percent of all marriages end in divorce. While some marriages could have been saved if the spouses were able to get past their differences, there are certainly times where divorce is an appropriate option, especially if there are kids in the picture.

Risk factors that may contribute to divorce

Connecticut residents and others have to work daily to keep their marriage a happy and successful one. However, there are factors that may increase a person's risk of getting a divorce. While these risk factors don't necessarily doom a marriage to failure, they do increase the likelihood of someone getting a divorce. For instance, individuals who had divorced parents are more prone to having failed marriages.

How occupation plays a role in divorce rate

Connecticut residents who travel for work or are employed in nightlife-related occupations have the highest rates of divorce. This is according to data from the 2015 American Community Survey that was analyzed by FlowindData. The high rates of divorce among these individuals is likely because of their need for a flexible schedule that puts pressure on the ability to have a stable relationship. There may be a link between income and divorce rates as well.

Compromise essential to setting up co-parenting rules

Many differences in opinion could motivate people in Connecticut to divorce, but splitting parents will help their children if they can compromise about the rules for shared custody. When parents have different attitudes about raising children, they might undermine the consistency and structure that their children need between two households. A conscious focus on the best interests of the children along with a willingness to compromise could allow parents to negotiate a co-parenting plan that does not reduce the well-being of their children.

Paying spousal support and tax deductions

Connecticut residents who are making alimony payments might wonder how they can make certain those payments are tax deductible. There are a few requirements. The first is that the payment has to be included in a written separation or divorce agreement, and the agreement cannot specifically say that the payment is not alimony.

How and why a prenup could be successfully challenged

Let's say that you and your spouse signed a prenuptial agreement before you walked down the aisle together. Years have passed and you are now going through a divorce. So you review your prenuptial agreement and you start to realize that this document doesn't seem to be balanced. It seems to favor your wife or husband more than you.

Email Us For a Response
  • National Academy of Personal Injury Attorneys
  • The American Society of Legal Advocates
  • 10 Best 2014-2015 2 years client satisfaction American Institute of Family Law Attorneys
  • Client Distinction Award Client Review Rated 4.0-5.0
  • The National Trial Lawyers Top 100 Trial Lawyers
  • The National Trial Lawyers Top 100 Trial Lawyers
  • Avvo Rating 10 Superb Top Attorney
  • America's Top 100 Attorney's

21 Holmes Avenue Waterbury, CT 06710 Phone: 203-754-7779 Fax: 203-754-7778 Waterbury Law Office Map

Review Us