What is division of marital property?

Division of marital property is a part of divorce law in Massachusetts that determines how property and assets are split between the divorcing couple. This applies to all property and assets acquired during the marriage, regardless of which spouse initially purchased it. Marital property typically includes cars, homes, bank accounts, debts, and investments. This also includes any pension or retirement funds, as well as any stocks or stock options earned during the marriage. Depending on the individual situation, division of marital property can also include items such as art, furniture, or jewelry that was acquired during the marriage. In Massachusetts, the court will divide marital assets and debts in an "equitable" manner. This does not always equal a 50/50 split, and in some cases, an unequal distribution is fair. In order to determine how assets and debts will be divided, the court will consider many factors such as the length of the marriage, the earning capacity of each party, any prenuptial agreements, and the contributions each party made to the marriage (financial and otherwise). When a divorcing couple is unable to agree on an equitable settlement, a court will make the division and is likely to use a variety of criteria to make its decisions. If the court must decide, it is important that each party provide a full and accurate account of all marital property in order for the court to make decisions that are fair to both parties.

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What is division of marital property?

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