Property division: What can you lay claim to in Massachusetts?
In Massachusetts, marital property is the subject of equitable division.
January 17, 2014 /24-7PressRelease/ -- Property division: What can you lay claim to in Massachusetts?
Article provided by The Law Office of Matthew Barach
Visit us at http://www.divorce4mawomen.com
There are many decisions that must be made when you go through a life change and it is a good idea to gather as much information as possible in order to ensure that you make the best choice. This is especially true when it comes to divorce in Middlesex County and the division of marital property.
In Massachusetts, marital property is the subject of equitable division. Forbes points out that equitable division means that property owned jointly by you and your soon-to-be ex-husband is divided in a way that makes it fair for each of you. However, this does not mean that you will receive half of the property. A judge could decide to give you less or more than half of the marital assets, depending on the following factors:
-The educational level of you and your spouse.
-Your ability to obtain a decent living.
-Your standard of living during your married life.
-Your health status.
-Your contributions to your husband's career success.
In addition, the length of time that you have been married can play a significant role in how the assets will be divided, especially if you have a long-term marriage. Status as a custodial parent is also important as well as any alimonyyou will receive.
Identifying marital property
In addition to your family's home and bank accounts, marital property can actually include quite a large number of valuable assets and sources of value. According to Forbes, your husband's professional license, investments, retirement plans, work bonuses and even a family owned business could be considered marital property. Furthermore, if your husband bought property before your marriage but then added your name to the deed, you could claim that property as marital.
In order to make sure that you receive an accurate division of marital property, a thorough inventory of assets needs to be compiled. Many women make the mistake of listening to and trusting their husbands but it is not uncommon for husbands to lie to their wives. It is also a good idea to be on the watch for any signs that your husband may be trying to hide marital property from you.
For example, if your husband is not sharing passwords and online banking information with you, possesses a private post office box, claims that a financial program has crashed or been accidently deleted, is reluctant to release any financial information or tries to get you to sign documents without letting you read them, it could be a sign that he is trying to hide marital property.
Once you are sure that you have a complete list of all marital properties and assets, then the next step is to find out what each item is worth. An accurate valuation for every asset and property results in a better division and a greater chance of being able to prepare for your financial future.
Speaking with an experienced attorney can help you better understand your legal rights and options during your divorce.
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