
When a couple divorces, the division of marital property may be a significant issue to resolve. It is understandable that people become emotionally tied to their possessions. For some, the thought of having to give away something precious can be overwhelming. Whether it is real estate, motor vehicles, or personal property, the couple can be deeply opinionated about what the other deserves. Sometimes, couples can come together to negotiate terms, coming to an amicable conclusion. When that is not possible, they can easily find themselves in a court case, fighting over how the marital estate should be split. If you are facing a contested divorce based on the unresolved issues of property distribution, contact a division of assets and debts lawyer here at The Law Offices of Cynthia L. Hanley, P.C.
Massachusetts is an “all-property” state, meaning the court may assign to either spouse all or any part of the estate of the other. Unlike many states, Massachusetts does not recognize a category of separate property that is automatically off-limits to division. Property one spouse brought into the marriage or acquired during it, as well as gifts and inheritances, may all be included in the marital estate subject to equitable division. In practice, courts have discretion to assign such property back to the owning spouse, and how an asset like an inheritance is treated is very fact-based, so it is important to discuss this matter with an attorney.
Like many other states, Massachusetts is an equitable distribution state. Equitable is a term that means fair and just. The division of assets will be distributed in a fair and just manner, according to the discretion of the court. Equitable does not always mean an even split. A court can divide assets any way they deem fair and just to both parties. With that in mind, there are many factors that a court will consider related to the marriage, including, but not limited to:
When allocating assets, there are factors that can impact the distribution, including the contribution of each party, the individual financial situation, and tax consequences.
If you are getting divorced and need quality legal support, our firm is here to help. When our clients face such a significant marital issue, we are ready to fight for their future. To schedule an appointment with a law firm with over 30 years of experience, contact The Law Offices of Cynthia L. Hanley, P.C.
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