Don’t Be Blindsided By The Division of Marital Property in Your Divorce

Many people fail to realize divorce requires more than simply signing a few documents. If you’re divorcing in Massachusetts, don’t be blindsided by the many decisions you’re about to face regarding the division of your marital property. Not all property is valued or taxed in the same way; therefore, the process can be long and confusing without the help of a knowledgeable attorney at your side. It’s important to consider that even though different financial accounts are valued at the same amount, the account owner may receive different withdraw amounts. This is because withdrawals will not be taxed in the
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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
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