Massachusetts law requires that the division of property in a divorce be equitable. Depending upon the length of the marriage, that sometimes means equal. Some couples are able to agree on their own how to divide property, while others need the help of attorneys or a mediator to help them negotiate a settlement.
Examples of Marital Property can be:
- Real Estate
- Personal Property
- Retirement Funds
- Bank Accounts
- Investment Accounts
- Sports Tickets
- Credit Card Miles
- Business of Spouse
If you are unable to negotiate a settlement on your own or with the help of a mediator or an attorney, you will end up going to the court and asking a judge to make the decision.
In some instances, it may be difficult to determine what property is marital and what is non-marital. Massachusetts law takes into consideration a spouse’s age, health, station in life, occupation, vocational skills, employability, amount and sources of income, liabilities and needs, opportunity for future acquisition of capital assets and income and their estate in determining a division of assets and assigning marital debt.
Other factors a court may take into consideration are the length of the marriage, the present and future needs of any dependent children, a spouse’s contributions to the acquisition, preservation or increase in value of their respective estates and either spouse’s contributions to the family unit as a homemaker.
Every case is different and depends on the individual facts and circumstances of the case. Barbara Nason’s creative, intelligent approach can assist you in reaching a property division that is tailored to your needs.