One of the most critical aspects of divorce proceedings is the division of marital assets. In this article, we provide helpful and informative content on how Massachusetts law handles the division of marital assets and how you can protect your financial interests during this process. Understanding Marital Assets Before we delve into the division process, it’s essential to understand what constitutes marital assets. In Massachusetts, marital assets are generally considered to be any property or debts acquired during the course of the marriage. This includes real estate, bank accounts, retirement funds, investments, businesses, vehicles, and personal belongings, among others. However, it’s crucial to note that not all assets are automatically considered marital. Assets obtained before the marriage, inheritances, and gifts specifically given to one spouse are typically considered separate property and may not be subject to division. Nevertheless, commingling of separate and marital assets can complicate matters, making it crucial to seek professional advice to distinguish between the two. Equitable Distribution in Massachusetts Massachusetts follows the principle of “equitable distribution” when dividing marital assets. This means that assets are not necessarily divided 50/50 but in a manner deemed fair and just by the court. In determining what is equitable, the court considers various factors, including: Length of the Marriage: The duration of the marriage can influence how assets are divided. Longer marriages may result in a more even distribution. Contribution to the Marriage: The court assesses the financial and non-financial contributions of each spouse to the marriage. Contributions can include
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