Wellesley Family Law Attorney
What Are the Laws of Equitable Distribution?
In Massachusetts, are the laws keen on dividing assets 50/50 down the middle?
The laws of equitable distribution require that all
properties must be distributed fairly, based on each spouse’s contribution
and earning power.
Couples must take into consideration the difference between marital property
and what is separate property. Marital property will encompass every asset
in the financial sense, including any debts incurred while they were married.
Our Wellesley family law attorney can help you with the process and make
it easier to manage.
Marital Property vs. Separate Property
Equitable distribution requires each spouse to compromise over what is
considered marital property and how they wish to divide it. Depending
on the situation, this can be a relatively straightforward process, especially
if the couple shared few properties. However, there are times when couples
cannot form an agreement, which can often lead to a contentious divorce.
Marital property may encompass the following:
- Real estate
- Bank accounts
Some couples may wish to seek the advice of a professional appraiser to
assess the value of each item. An appraiser tries to calculate the actual
monetary value of an item, for example, an heirloom, sculpture or painting,
or an antique. Appraisers may also evaluate assets such as retirement
funds, and gifts or inheritances that the spouse acquired before the marriage.
If you have any questions about this process, feel free to ask our Wellesley
family lawyer about what you need.
Contact the Firm Today!
Saponaro Barach Bingham LLP knows that this is one of the most challenging
experiences one could ever face. Fortunately, when you have a trusted
advocate on your side, there is reassurance that someone is on your side.
Our Wellesley family lawyers are committed to 100% client satisfaction.
If you would like assistance with your divorce or other family law matters,
contact us for a