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How Property Is Divided In Massachusetts
Property division involves more than just cars and houses. The process can be complex and contentious, particularly when sentimental items and complex assets like retirement accounts, pensions, businesses and real estate holdings are involved. At the Law Offices of Ira C. Yellin, LLC, we focus on securing the property our clients deserve after a divorce.
There are no hard and fast rules for property division in Massachusetts. Judges have a wide range of discretion in this area. Massachusetts is an equitable distribution state, meaning the judge divides property based on what is considered fair for your circumstances.
Equitable does not always mean a 50-50 division. Some factors that come into play are:
- Each spouse’s contribution to the marriage
- Each spouse’s income
- A spouse’s potential income if they are not currently employed
- Health care or disability needs
- Any nonmarital assets such as an inheritance
Since the decisions are left to the discretion of the judges, you need an attorney who can make persuasive arguments in favor of your position.
How We Assist With Property Division
One of a divorce lawyer’s tasks is to determine the value of the property brought into and acquired during a marriage. From there, the lawyer can determine what is a reasonable division of that property based on the circumstances of the case.
In addition to dividing marital assets, we help divorcing couples divide debts, as well as discuss the possibility of bankruptcy before or after a divorce. Credit card balances and other loans secured during the marriage may be assigned to one or both spouses. Again, the complexity requires an experienced attorney to ensure the debt is divided fairly.