Massachusetts is an equitable property state. “Equitable division” is governed by statute which provides for consideration of certain factors including but not limited to the length of the marriage, the parties’ respective ages, the conduct of the parties during the marriage, the contribution of the parties to the acquisition and preservation of marital property, and each party’s ability to earn income and acquire assets in the future. See Mass. Gen. L. c. 208 §34. This is also true for marital debt. If you are in the middle of a divorce, any decisions regarding a property settlement should be made under the advice of a trustworthy and experienced attorney. The Law Office of Rosemary Purtell will ensure that any property settlement is fair and your rights are protected during the entire process. In the event that your case cannot be settled Attorney Purtell will provide aggressive yet appropriate legal advocacy at trial and beyond.
Marital Assets
Marital assets in Massachusetts are defined as all property, wherever and whenever acquired, to which an individual holds title. See Rice v. Rice, 372 Mass. 398, 361 N.E. 2d 1305 (1977). Once the distinction of what counts as marital property is made, assigning an accurate value to that property is the next step. This may require outside expert help from appraisers. Attorney Purtell works closely with qualified appraisers of real estate, businesses, and personal property and knows when the opinions of such experts are needed.
Once appraised, a fair division will be put in motion. The family home, vehicles, retirement accounts, businesses, and other property all need to be dealt with in a division of marital assets. Some couples may find it beneficial for both to sell some property and divide any profit. Others may want to fight for one valuable item, such as the family home, and leave the rest of the marital property to the other spouse. A skilled attorney will help decide the best course of action.
Division of Property Process
The property division process can be stressful and time-consuming, particularly if there are items or funds that both parties want. While couples are encouraged to work out the terms of a property settlement on their own, it can be difficult to make clear-headed decisions during an emotional time. Attorney Rosemary Purtell can help you formulate a plan that works best for you. She will dedicate the time and resources to ensure each aspect of the process is handled fairly. Before agreeing to any property settlement, let Attorney Purtell evaluate your situation. Let her fight to get you what you deserve so that you can move forward after a divorce.