Worcester Division of Assets Lawyer
Protect Your Rights in Division of Assets: Call (508) 926-8833
Whenever two people have decided to get a
divorce, a major part of the process is deciding which person gets what property.
The state of Massachusetts is an equitable division state, not a 50/50
state.This means that, if the court must decide, then all marital property,
assets, and liabilities are not necessarily divided equally between the
two parties, like it would be in some other states.
How Is Marital Property Divided in Massachusetts?
Massachusetts laws dictate that the courts can decide on a fair division
of assets regardless of who actually owned it. A court could declare that
the division is 60/40, or 70/30, etc.
This decision is based on many factors. You should
contact our firm to reach an attorney who can help you navigate this complex issue, protecting
your every right throughout your divorce. At the
Law Office of Robert W. Kovacs, Jr., we are backed by over a decade of legal experience with which to help you.
Know your legal rights and options!
Request your case evaluation today.
How Courts Decide Asset Division
It is possible that the spouses decide between themselves how their assets
will be divided. Or there may be a prenuptial agreement that spells it
out, but any prenup can be challenged in court. If not, the court will
have to intervene and make those decisions.
The Massachusetts statute, Massachusetts General Law, c. 208, §34,
lists several factors that either can be or must be considered by the
court in determining how assets are divided.
These equitable distribution factors include:
- How long the marriage lasted;
- The ages of both parties;
- The behavior of each party during the marriage;
- The health status of both parties;
- Occupations of each party;
- The degree of employability of each party;
- The vocational skills of each party;
- How much income each party brought to the marriage and where it came from;
- Amount of liabilities each party brought to the marriage;
- The social status of the parties while they were married;
- If there are any minor children, what their needs are and will be after
- What, if any, opportunities exist for both parties to acquire capital assets;
- The estates belonging to each party and what their contributions were to
preserve and grow those estates;
- What were the contributions of each party when one party is a homemaker;
- The specific needs of each party; and others.
All of these factors impact a 50/50 division into a court order that is
tailored to the individuals involved.
If one party received an inheritance during the marriage, or other kinds
of gifts, then they could be considered the property of both, based upon
the case. Or if one spouse owned a business, it would be considered an
asset of the marriage and therefore subject to being divided.
Likewise, time shares, stock options, cash, tax shelter assets, even future
assets and retirement accounts would be eligible for division between
the parties. If, for example, one spouse had a collection of coins, it
would have to be noted on a financial statement after it was fully evaluated.
Virtually anything is subject to being divided between the spouses, and
not always equally. The team at the Law Office of Robert W. Kovacs, Jr.
can help you navigate the property division process!
What Property Can Be Divided in a Divorce in MA?
Though marital property can be being divided however the court sees fit,
not all assets are subject to this. Anything that falls under the umbrella
of separate property cannot be divided. Separate property includes all
income, property, and assets that were acquired before the marriage.
Court Decisions in a Litigated Divorce: Property and Asset Division
Divorce is often accompanied by negative emotions and stress, often making
the divorce process even more difficult.
At the Law Office of Robert W. Kovacs, Jr., we believe in a very hands-on
and personal approach to helping our clients pursue the best possible
outcome of a divorce, fighting for the most equitable and fair division
of assets as well as
child support. We are by your side throughout the entire process, with the goal of getting
you beyond this phase and prepared to transition into a new, brighter future.
Call (508) 926-8833 or
email our Worcester divorce firm to contact an attorney who can address division of assets with professional skill.