Massachusetts is a state where marital property is divided based on the principle of equitable distribution, which basically means a fair division. "Fair" is not always "equal," however.
If you're an avid follower of our blog, then you've likely read a number of our posts regarding marital agreements. As you've probably gathered, these legal documents can be incredibly useful, especially during the property division step of a divorce.
A divorce is often one of the most stressful and emotional things experienced by Massachusetts residents. Although the dissolution process can be difficult, most people are able to look back years later and see a divorce as a turning point in their lives. However, while going through a divorce it is important to be as detailed as possible. This is especially important when it comes to finances and the division of property.
Readers of our Massachusetts family law blog know that property division is a necessary step in every divorce case. Even in the most amicable of splits, emotions can run high as couples face division of everything from bank accounts to personal mementos. As reproductive science has advanced in the past years, a new question must be pondered. How are frozen embryos of a couple to be divided in the event of a divorce?
Even in the most amicable Massachusetts divorce, property division can be an emotional and stressful process. Ultimately, this can lead to property division disputes. Both men and women unfamiliar with the divorce process often have mistaken beliefs when it comes to property division. A MetroWest Boston Divorce Lawyer will inform and assist couples throughout the process, so that in many cases people leave a divorce in much better condition than expected.
Massachusetts residents who follow major league baseball have probably heard about the recent sale of the Dodgers for $2.15 billion to a conglomerate of investors that including the famous basketball player "Magic" Johnson and others. Now, the former owner's ex-wife has sued the former owner, seeking to set aside her divorce settlement as a fraud. According to her, the former owner had stated in the course of their divorce settlement that this family business asset was worth only $300 million.
Although not incredibly romantic, asset and financial planning for a marriage has many benefits. Whether to enter into a prenuptial or postnuptial agreement is a very personal decision. Many factors must be taken into consideration to determine whether doing so may be the right choice for your particular situation. A Massachusetts divorce attorney can discuss with you the pros and cons of entering into one of these marital agreements.
The division of marital property during the course of a divorce can be emotionally and financially difficult. The settlement reached regarding property division will impact each person's finances for years to come. Massachusetts state law provides for an equitable distribution of property. This does not require a 50/50 split of assets. Furthermore, property division is negotiable.