In the state of Massachusetts, the court decides what property is divided in the situation of divorce. This is often the greatest concern of both parties, aside from child custody agreements. A husband or wife might also be required to pay alimony to the other spouse, if circumstances are correct for that to occur.
Property division depends greatly on whether or not the assets are considered marital property or separate property. Generally speaking, most states divide all marital property fairly and evenly between the two divorcing people. Under some circumstances, special consideration might be taken that benefits one spouse over the other. This includes if children are involved in a situation that included abuse.
Marital property is any property that was assumed by the couple or as individuals during the marriage. Some property that belonged to one or the other spouse before the marriage might also be considered marital property during a divorce. For this reason, it is important to protect any property that you might have before entering marriage with a prenuptial agreement.
Separate property includes any and all assets that are truly owned by one individual, rather than the couple together. This includes anything that is outlined in the prenuptial agreement, as well as property that was specified as belonging to one person during the marriage.
The division of property can be a stressful process. Going to divorce mediation could make this easier on both parties. If you have additional questions about property division, speaking to an experienced.