Does Massachusetts Divide Property Equally Between The Spouses During A Divorce?
Rather than divide marital property equally, the Commonwealth of Massachusetts’ family law code seeks to divide it equitably.
Massachusetts defines “marital property” as any property—be it income, assets, real estate, or everyday items—that comes into possession of the couple or either of the spouses individually during the course of the marriage. This could include trade secrets, stock holdings, and artistic creations. For individuals of high net worth, or those who make their living by possessing valuable intellectual property, it is especially valuable to have a prenuptial agreement in place to keep this property separate from that held in common in the marriage.
In deciding what is an “equitable” division of property, the court will consider a number of factors. These include but not limited to, how long married, the relative incomes of the parties involved, and the financial and emotional contributions made by each party during the marriage.
If you are seeking to protect your hard-earned assets from someone who wants more than his or her fair share, or if your contributions to the marriage and household are being downplayed, call our office today to discuss your case. We’ll help you find peace of mind.