Marital Property

If my ex purchased our marital home before we were married, can I request the house as part of my divorce settlement?

The simple answer is yes, you can request the marital home as part of your divorce settlement. However, divorcing couples may request specific assets during the division of property, but that doesn’t mean their request will be awarded. Massachusetts law requires the division of property in a divorce to be equitable. This means property division must be fair, though not necessarily equal. Massachusetts law allows a judge to divide all property regardless of when it was acquired or which spouse actually owns it. When dividing assets, such as property, a judge will consider the length of the marriage, the present and future needs of any dependent children, each spouse’s income

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Does Massachusetts divide property equally between the spouses during a divorce?

Rather than divide marital property equally, the Commonwealth of Massachusetts’ family law code seeks to divide it equitably. Massachusetts defines “marital property” as any property—be it income, assets, real estate, or everyday items—that comes into possession of the couple or either of the spouses individually during the course of the marriage. This could include trade secrets, stock holdings, and artistic creations. For individuals of high net worth, or those who make their living by possessing valuable intellectual property, it is especially valuable to have a prenuptial agreement in place to keep this property separate from that held in common in the marriage. In deciding what is an “equitable” division of

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Don’t Be Blindsided By The Division of Marital Property in Your Divorce

Not all property is valued or taxed in the same way; therefore, the process can be long and confusing without the help of a knowledgeable attorney at your side. It’s important to consider that even though different financial accounts may be have the same current value and/or balance, the account value for purposes of a division of assets, may vary based upon the nature of the account in question. For instance when dividing retirement assets, as opposed to more liquid assets such as bank accounts, any withdrawals made will be taxed to the transferor absent a properly prepared Qualified Domestic Relations Order being entered by the Court. Regarding real estate

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