Guiding You to an Equitable Distribution of Marital Assets
While most people expect that they will have to divide marital assets with their spouse in the event of divorce, the process of determining what is a marital asset and reaching an equitable division can be very complex. As a family law attorney serving clients in Framingham and the Metro West area of Massachusetts, I will guide you through the process from beginning to end.
What is Marital Property?
Massachusetts has a very broad definition of marital property. Marital property includes all property acquired during your marriage. Businesses including medical practices or other businesses, real estate, savings accounts, pension plans, 401(k) accounts and even inheritances may be considered marital property and subject to division under our equitable distribution rules.
Property you owned before your marriage such as retirement may be considered separate property, as is any increase in value during the marriage. Separate property is not subject to division.
What is Equitable Distribution?
Massachusetts is an equitable distribution state. This means that marital assets will be divided in an equitable manner — which is not necessarily 50-50. A court may determine that a 45-65 or even a 40-60 division is equitable in your case.
Judges will consider 19 statutory factors to determine what is equitable. Among those factors are the length of the marriage, station in life, contribution to acquisition and preservation of assets during the marriage, contribution as a homemaker, and issues of conduct such as dissipation of assets by gambling or spending money on an extramarital affair.
Learn more about equitable distribution of marital property in high-net worth divorces.
Free Lawyer Consultation
If you are dealing with a marital property division law issue, I offer a free initial consultation at my law office in Framingham. To schedule an appointment with me, attorney Eileen Agnes, call 508.879.9876 or fill out the contact form on this Web site.