MASSACHUSETTS DIVISION OF ASSETS LAW FIRM

Expert Understanding of the Complexities of the Law & Asset Division

It is a common misconception that assets are split 50/50 during a divorce, so it is essential to have an experienced litigator who understands the complexities of asset division in the Commonwealth of Massachusetts.

Complex legislation in the Commonwealth of Massachusetts can affect asset division during divorce proceedings. While many firms have experience in asset division, members of DiPiano Family Law Group P.C. have literally written the book on the complexities surrounding this topic are known as experts among their peers.

Massachusetts follows equitable distribution rules, not community property rules. In Massachusetts, a judge will divide marital property equitably (fairly), but not necessarily equally.

“Marital property” includes any income, assets, and property acquired by either spouse during the marriage. It doesn’t include any “separate” property, which is all income, property, and assets owned by a spouse before the marriage. Separate property won’t be divided between the spouses in a divorce.

This is a long list, but here are some of the most common marital assets that are usually considered during a divorce:

All income and assets acquired by either spouse during the marriage including, but not limited to: Real Estate, Pension Plans; 401Ks, IRAs and other Retirement Plans; Deferred Compensation; Stock Options; Restricted Stocks and other equity; Bonuses; Commissions; Country Club memberships; Annuities; Life Insurance (especially those with cash values); Brokerage accounts—mutual funds, stocks, bonds, etc; Bank Accounts—checking, savings, Christmas Club, CDs, etc; Closely-held businesses; Professional Practices and licenses; Limited Partnerships; cars, boats, art, antiques; and, tax refunds.

DIVISION OF ASSETS

In determining division of assets there are other factors to be considered:

  • The length of the marriage
  • The income or property brought into the marriage by each spouse
  • The standard of living established during the marriage
  • The age and physical/emotional health of each spouse
  • The income and earning potential of each spouse
  • The financial situation of each spouse when the divorce is finalized
COMPASSIONATE AS YOUR COUNSELOR. TENACIOUS AS YOUR ADVOCATE.

DiPiano Family Law Group P.C. is experienced in these areas of asset division:

  • Alimony
  • Asset Valuation
  • Business Asset Division
  • Complaints in Equity
  • Complex Asset Issues
  • Gifted Property
  • Inherited Property
  • Prenuptial Agreements
  • Post Nuptial Agreements
  • Qualified Domestic Relations Orders (QDROs)
  • Tax Consequences

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FAMILY LAW IN MASSACHUSETTS

Division of assets means who gets what. If the division of assets cannot be resolved, a judge will divide marital property equitably (fairly), but not necessarily equally. It doesn’t include any “separate” property, which is all income, property, and assets owned by a spouse before the marriage. Separate property won’t be divided between the spouses in a divorce.

Factors such as length of the marriage, age and health, amount and source of income are considered.

At DiPiano Family Law Group P.C., we work with clients in Greater Boston, the North Shore and throughout Massachusetts to ensure assets are divided fairly in instances of divorce. If you want the quality counsel, advocacy and representation commonly associated with Boston-based legal practices without the excessive cost and commute—we are the ideal firm. Our Salem office is just a short drive from Beverly, Marblehead, Swampscott, Danvers, Lynnfield, Peabody, and other neighboring towns. The efficiency and value of our legal services has positioned us as the go-to firm for asset division with residents of more distant Essex County communities like Ipswich, Andover, and North Andover, as well.