Massachusetts Probate & Family Courts subscribe to the concept of an “equitable distribution” or property division of marital assets and marital debt.
There are many factors that a Court considers in determining how to divide marital property and debt amongst the parties to a particular divorce. Although the Court may consider each party’s contribution toward the acquisition of their respective assets, there are many other factors that may be taken into account. These factors include but are not limited to the contributions of each party as homemaker to the family unit; the length of the marriage; the age, health and occupation of each party; the liabilities and needs of each party; the opportunity of each party for future acquisition of capital assets and income; and the amount and duration of alimony that has or shall be awarded.
The marital property which is subject to division includes but is not limited to the marital home, investment and rental properties, the family business, pensions and profit-sharing plans, retirement plans, vested and unvested stock options, annuities, bank accounts, mutual funds, shares of stock, bonds, gifted and inherited assets, and automobiles.
Although an asset may be included in the marital estate and thus subject to potential division, the Court will consider many factors in deciding whether a particular asset or its value will in fact be divided amongst the parties or awarded to or kept by one of them.
The divorce and family law lawyers at Leone Law Offices have knowledge of those factors and the importance that the Court will give to each of them in determining an equitable distribution of the marital estate. We have successfully argued time and again for a favorable division of assets for our clients, and we are ready to do so for you. Call us today and schedule an appointment to discuss the particulars of your divorce.
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