Massachusetts divides marital property in divorce under an “equitable distribution” standard. This means the court will approach property division based on what’s most fair for both parties. It doesn’t matter if you mostly kept your properties and debts separate while you were married. Unless you have a prenuptial agreement, every facet of your finances and property ownership will be looked at and distributed between you and your ex.
The family court of Massachusetts attempts to divide assets and finances as fairly as possible. When dividing assets, the court doesn’t separate personal property; however that doesn’t mean the higher-earning party will be gouged in the process. Rather, the court will attempt to do what is right for both parties involved. It does so by looking at a few key factors of the relationship.
These factors include:
- Length of marriage
- Conduct of both parties during marriage
- Age of both parties
- Health of both parties
- Station of both parties
- Occupation of both parties
- Income of both parties
- Vocational skillset of both parties
- Employability of both parties
- Opportunity for each party to acquire capital assets and future income
Marital Property Types
While actual property is usually considered when the court decides on a settlement,
It may also consider:
- Stocks & bonds
- Priceless collections
- Retirement accounts
- Pets: While most other states will grant pets to the primary handler to ensure they are going to the best home possible, Massachusetts has yet to implement this.
Contact the Barach Law Group LLC Today
Divorce can be tough, especially if both parties can’t agree upon separation of property and assets. That’s why it’s important to hire an attorney with equitable distribution experience in Massachusetts. Our firm knows how frustrating figuring out a divorce settlement can be. Let us be your advocates during this time and help you settle your assets.