Massachusetts Equitable Distribution Lawyers
Serving the South Shore and Cape Cod
In Massachusetts, our equitable distribution statute applies over 20 different factors to the fact patterns of each marriage in guiding the court on how to divide both the property and debts in the parties' marital estate.
Just because the words equate and equal can be found in the word equitable, you will not automatically receive half of everything. The end result tends to fall on the application of the factors outlined in the statute. Additionally, case law allows the court to include all of the property belonging to both spouses, whether acquired before marriage, during marriage or even post-marriage. The person who holds legal title to the property has little relevance.
When It Comes to Splitting Assets, Each Court Is a Little Bit Different
At The Massachusetts Family Law Group (MFLG), our lawyers bring more than 40 years of combined experience to dividing assets and debts during divorce. We know the preferences of each judge who typically presides in the Brockton, Plymouth, New Bedford, Fall River and Barnstable probate and family court, which allows us to represent our clients effectively.
While the same set of laws is applied, each of the five courts served by our Plymouth law office interprets these laws a little bit differently. For that reason, our firm assigns each lawyer to a specific region and courthouse. By working day in and day out in the same places, we know how things work. This is a big advantage for our clients.
Steps to Dividing Assets and Debts During Divorce
We explain the equitable division to our clients as follows:
- Define the marital property: Decide which property and debts are owned jointly by you and your spouse or acquired during the marriage. To help, consider using our asset and income worksheet.
- Value the property: Included in the process is valuing the marital home, appraising collections and determining the value of a business. In some cases, it's important to consult with experts to value complex estates. We work with forensic accountants, business valuators and other financial experts to determine the true value of pension accounts, security portfolios, business partnerships and professional practices.
- Divide the property: If the parties cannot agree on the distribution of the property, the judge will step in. The court will determine which assets should be awarded to each party. The court is not required to split the assets equally; instead, the court may divide the property in the way it deems equitable or fair.
- Debt division: If the parties cannot agree on how to handle their debts, the judge will step in.
- Divide the property: The columns for both assets and debt are ultimately totaled. If the parties haven't yet agreed, the court may order everything to be sold, the debt paid-off and the parties to divide the remaining funds.
Strategic and Intelligent Decisions – Not Just Aggressive Ones
Many law firms only handle divorce cases in an aggressive manner. While aggressive strategies may be the best options in some situations, there are times when they work against a clients' goals when it comes to property division and splitting up assets and debt.
Our attorneys take a more commonsense approach. We analyze your situation and offer strategic and intelligent representation. There are times when we arrange home appraisals or business valuations, and others when we analyze SEPs, 401(k) plans, IRAs or other retirement assets.
Give your legal matter the careful attention it deserves. While some aspects of an agreement are always modifiable, matters relating to property division cannot be revisited; that's why it is so important to get it right the first time!
Free Consultation With a Senior Attorney
When you have questions, we have answers. What should be the outcome when a wife worked to put her husband through medical school? Should those years that she was active in the workforce be deemed a contribution to the parties' marital estate? Are pets considered property? Can I get more alimony so I can make the mortgage payments on the house? Who is responsible for debts such as car loans, credit card debt and college loans? What are the tax implications of asset division?
We provide clients with a game plan and facilitate a superior execution of that plan. Call (800) 299-DIVORCE or contact us online to set up an appointment to discuss marital property division. We meet clients in the early morning or at night, seven days a week.
