Archives for Division of Assets

Ways to Discover Hidden Assets During a Divorce

Despite complications to the marriage, most people enter the divorce process believing their soon to be ex-spouse is an honest person. Unfortunately, this is not always the situation. The fact is, dishonesty is a common reason for seeking a divorce. Even if you have no reason to suspect your former partner is dishonest, there is still good cause to be curious and concerned about their finances heading into a divorce. Once a divorce begins, many people will do whatever it takes to conceal and hold on to what they believe is their assets or their money. Moreover, some will even
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Categories: Articles and Divorce Articles.

Am I entitled to 50% of my wife’s inheritance?

Additional Info: I’ve supported my wife and family in Wellesley for 21 years. We are now going through a divorce and she just received an inheritance of over $500,000.  Am I entitled to 50%? Attorney Answer: A Court has a wide latitude of discretion and will consider several factors in determining what, if any, portion of an inheritance a divorcing spouse will receive.  An inheritance is a marital asset that is subject to equitable division, but it may not be a 50-50 split.  As stated, the Court looks at several factors including length of marriage, how long ago the inheritance
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Categories: Articles and Divorce FAQ's.

We’re getting divorced, how are assets divided?

Additional Information: When my husband and I were engaged, I finished business school and as a graduation present my parents gave me $50K to start my own company.  We got married, bought a home in Ashland, and started a family right away.  I never started my business and the money has been in a savings account.  Now we are getting divorced and he thinks he is entitled to half of this asset.  I have a card from my parents saying how proud they are of me and that they are gifting me the money to pursue my dreams of having
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Categories: Articles and Divorce FAQ's.

What is the best way to handle the financial aspects of a divorce?

Additional Information: My husband moved out of our Southborough home almost 18 months ago.  We are on good terms with one another and have an agreed up on schedule for time with the kids. He currently pays for daycare for our youngest, but I think he should contribute more to kid-related expenses. ATTORNEY ANSWER: Your question is initially a very broad one.  However, you specifically mention that your husband moved out of your home about 1 ½ years ago and that, although he pays for daycare, you want him to contribute more to child related expenses. I would need additional
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Categories: Articles and Divorce FAQ's.

Divorcing couples may have to share property they acquire after they split up

Most people assume that a divorcing couple’s assets will be divided according to what they own at the time they separate. But in some cases, things that happen after a couple split up can affect what they’re entitled to in a divorce. Only an attorney with expertise in divorce law can determine exactly what you might be entitled to…so it’s important to tell your divorce attorney about anything that could affect the prospects of both you and your spouse down the road. Take the case of a man who was a 25% partner in a real estate project at the
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Categories: Articles and Divorce Articles.

Social Security and Military Benefits can be divided at divorce

Federal government benefits – such as from Social Security or the military – have their own rules, and those rules usually trump state law. So sometimes it’s unclear whether a state divorce court can divide up a federal payment. However, in several recent cases, it was determined that federal payments could be split at divorce. A military retiree’s health insurance benefits can be split at divorce, the Alaska Supreme Court decided. That’s because of a federal law called the Uniformed Services Former Spouse Protection Act. Under that law, military retirement pay can be either individual property or marital property, depending
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Categories: Articles and Divorce Articles.