All About Property Division
Massachusetts uses the concept of Equitable Distribution of marital assets. There are a number of factors which the judge uses to determine what distribution is equitable.
Marital property includes:
- 1) Pensions,
- 2) Bank accounts,
- 3) Stocks, bonds, and other securities
- 4) Real estate and other properties and interests
- 5) Personal property,
- 6) Antiques,
- 7) Collections,
- 8) Automobiles,
- 9) Cash value of life insurance,
- 10) Assets including those which were inherited or gifted
- 11) Executive compensation packages,
- 12) Family-owned/Partnershis business & assets,
- 13) Investment portfolios
- 14) Trusts,
- 15) etc,
Just because an asset is included, that does not mean the other spouse will get a share or any part of it from the court. But, inherited and gifted assets can be problematic.
Where there are extensive extensive and/or hard to value assets experts are often needed often face additional complications in determining a fair property division settlement. In these cases, you will need a law firm that has both extensive experience with the valuation and tax issues involved with each asset class and perhaps international experience in working to present to the court for consideration a financial picture to obtain an equitable resolution.