Massachusetts Marital Assets Division Attorneys
Helping Families in Wellesley & Greater Metrowest
Massachusetts is an equitable property division state. A court will decide how to divide all marital assets and liabilities equitably, which means in a fair and impartial manner. Equitable does not necessarily mean equal. Each divorce is different and the court will take into consideration many factors when deciding an equitable property division. The court will consider the length of the marriage, each spouse’s age, health, the income of each partner, and contributions made by the spouses to the marital estate
One of the most important questions to answer is what does the marital estate consist of it. The Courts have defined the marital estate consists of all property held in a party’s name whenever and however acquired. This means that property acquired both before and during the marriage are part of the marital estate.
However, when dividing up the marital estate, one of the key factors, the Court will consider is whether the property was commingled into the marriage. Examples of assets subject to division in a divorce are the marital home, vehicles, bank accounts, retirement accounts, trust interests, stocks, cryptocurrency, intellectual property, personal tangible property, business interests, and pets. Examples of debt subject to division in a divorce are the mortgage, lines of credit, credit cards, student loans, personal loans, and taxes.
The division of property is not always as straightforward as you would think. The team at Karpenski & Schmelkin has years of experience in family law and helping clients resolve property division issues, no matter how complicated they may seem. During the emotionally charged time that divorce brings, you need a law firm that has experience handling complex property division issues, that has your best interests at the forefront and treats you as an individual.
Contact Karpenski & Schmelkin to schedule a consultation and answer any questions you may have about property division.