Property Division in Wellesley, MA
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In the event of a divorce, couples must divide their marital property and
assign martial debts. Massachusetts law states property division in divorce
needs to be equitable, meaning fair--not equal. Dividing property is often
one of the most hotly contested issues in divorce, which could result
in court appearances to request a decision from a judge or arbitrator.
If you are experiencing this type of situation, it is in your best interest
to hire an experienced divorce attorney to protect your most valuable
Barach Law Group LLC, our
Wellesley divorce attorney can assess each property item, determine whether it is community property,
and advise you how the property can be divided in your divorce case.
What is Equitable Division?
If you are your spouse are able to reach a mutual agreement regarding the
division of property, you can create and submit a property settlement
agreement (PSA) to a judge to be included in your divorce decree. However,
if you and your spouse cannot agree, a judge will divide your property
according to the guidelines of “equitable distribution.” Equitable
doesn’t mean equal, but instead what is deemed to be fair according
to the family court.
In dividing property in Massachusetts, the court considers the following:
- The length of the marriage
- Each spouse’s conduct during the marriage
- Each spouse’s age, health, and station in life
- Each spouse’s occupation, vocational skills, and employability
- Each spouse’s sources of income and opportunity for future acquisition
of capital assets
Courts are especially likely to consider misconduct which led to a waste
or dissipation of marital assets available for distribution (i.e. spending
marital funds to support a gambling addiction or a lover in a matrimonial
affair. Furthermore, a court may also consider each spouse’s contributions
with regard to estate matters and homemaking.
Let Our Wellesley Divorce Lawyer Help You Determine Value
Our legal team can help you assign a monetary value to each property item
through appraisals and valuation. Yet, retirement assets can be difficult
to evaluate and may require the assistance of a CPA or financial professional.
For more information,
contact us and schedule a free consultation today.