Preparation is the key to a smooth divorce. The more you can do in advance, the better off you’ll be as you seek an equitable division of property. Below are a few key areas that you want to consider as you move toward the split, along with some good questions that you can ask:
Do you own your home? How much equity do you have in the house? Do you own any other properties or types of real estate, such as vacation homes or condos?
Assets in the Home
How much did your home furnishings cost, and how do you want them to be split? Do you have any really valuable items, like artwork, collectibles, or other things of this nature? Your home may be the main value, but the things inside can be worth tens of thousands of dollars.
Money that you’ve invested isn’t something you’re going to see on a daily basis, but you absolutely don’t want to forget about this money, especially if you’re saving up for retirement. Do you have a pension plan or a trust fund to consider, as well? Are both you and your spouse named on these accounts?
Remember to think beyond just the family car. Do you have a motorcycle, a recreational vehicle, a sports car, or a boat? Did you buy these in your name alone, or are they in both of your names?
These are just a few of the big areas that you want to address, but looking at them can give you a great start toward a fair division of property in Massachusetts.
Source: FindLaw, “Checklist: Issues To Discuss With Your Divorce Attorney,” accessed Jan. 21, 2016