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Divorce is a challenging time for everyone, from the impacted spouses to their immediate family members. Dividing assets can add to those challenges, especially among spouses with a moderate to high volume of shared assets. Even so, it is important to understand how the state of Massachusetts handles asset division even as you seek out qualified legal representation.

If you and your spouse possess a valid prenuptial agreement, you may be able to (or be required to) circumvent this asset division process entirely. If this does not apply to you, keep reading…

Separate And Marital Property

Massachusetts is not a community property state, meaning that assets that were held before marriage do not automatically become marital property.  Many factors are considered by the courts when deciding whether property will be considered separate or marital and the longer the marriage, the more likely a larger proportion of the individual property will be included in the joint, or marital, estate for the purposes of division.

Equitably, Not Equally

Massachusetts divorce courts maintain a policy of equitable distribution when dividing marital assets. Accordingly, spouses may not receive equal payout packages when it comes to numeric assets, like income, or physical assets, such as a cash, real estate or vehicles.

During this division process, a judge will take a variety of factors into consideration while working out the final asset-division plan. These factors range from the marriage’s length to the conduct of either or both spouses over the course of the marriage. In this way, the judge can order an asset division that is situationally appropriate, if not also equitable.

Child Support

While children receive unique considerations during the asset-division process (for custody and visitation, etc.), the assets (primarily financial) that would have been used to jointly support the child’s health and education are split equitably.

Present and future child support payments are based in this asset-division process to ensure that the impacted children continue to enjoy stable lives.

The Bottom Line

The Massachusetts asset-division process in cases of divorce can feel overwhelming and complex from the outside. Luckily, there are legal specialists like the attorneys at the Law Offices of Jacob D. Geller who can guide you through the process and ensure that your specific interests are protected throughout. Contact us today to schedule a consultation regarding the handling of your divorce’s asset-division case.