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Property Division Archives

Is the key to a better retirement hidden in property division?

Home ownership could be the key to a more secure retirement, studies say. Does this mean that Massachusetts women should retain the marital home regardless of their personal situations? Experts caution that this is not the case, and that each person should carefully consider what assets to keep during property division. 

Keep property division goals realistic

Regardless of how long a couple was married before filing for divorce, there is one thing they will all have to deal with -- dividing up the marital property. This is true whether a Massachusetts couple said "I do" two years ago or 20. Although property division might seem straightforward, many people soon realize just how complicated the matter can be.

Property division ended on a sour note for Frances Bean Cobain

Splitting up property during a divorce can be an emotionally charged ordeal. Many physical items hold significance for their owners, and letting go of a treasured possession may make an already difficult process more cumbersome. Addressing property division in a prenuptial agreement is a smart choice for most Massachusetts couples. Otherwise, they might find themselves in a difficult position, like the one that Frances Bean Cobain recently handled.

Property division does not have to be painful

Divorce is a complex undertaking, and many couples find they are not prepared for the challenges involved in obtaining a fair settlement. When it comes to property division, Massachusetts law is based on an equitable division of property. Reaching an equitable division is not always easy, but experts offer some advice on how to go through the process with grace and dignity.

Inaccuracies during property division can affect one's divorce

When sharing life with another for several decades, memories, possessions and property are collected with time. However, if a marriage comes to an early end, a majority of Massachusetts couples will need to consider property division in their divorce agreement. For Burt and Lucille Handelsman, their split came with a hefty price as their $550 million real estate business has gone under the knife in an attempt to divide it evenly and fairly.

The basics of mortgage management in Massachuetts divorces

For divorcing Massachusetts homeowners, the number one financial issue they often face is property division for the family home. On the surface, there are three basic options from which to choose. The first is that of selling the house and dividing the proceeds. Another is for both exes to continue their joint ownership, at least temporarily. The third is refinancing to allow one ex to keep the home while removing the other from the mortgage.

Divorcing couples' options for Massachusetts property division

Once a Massachusetts couple begins to work through the emotional aspects of divorce, the major remaining issues are typically financial in nature. While it is sometimes difficult to calmly make logical decisions regarding things like asset and property division during such a stressful time, failure to do so can prove costly to all parties involved. Usually, one of the most difficult but most important and valuable assets to divide is the family home.

Equal vs fair: Massachusetts property division can be complicated

No matter how long a couple has been married -- be it a few months or many decades -- one aspect of a divorce that is always sure to present some confusion and stress is asset division. Massachusetts is an equitable property division state, meaning that marital property is divided fairly, though not necessarily equally. Before deciding how property and assets will be divided comes the process of determining what qualifies as marital property and which assets are separate.

Asset and property division: Closing joint bank accounts

While often the first step toward a brighter future, the actual divorce process can be quite stressful to get through. Not only is there the emotional side to deal with, but there are also practical aspects that need addressed, such as asset and property division. One of the first and most basic of these tasks is closing a joint bank account.

Massachusetts divorces: How property division affects retirement

Many older adults have spent their lives working and saving toward retirement, looking forward to the day they can quit their jobs and relax. Then, sometimes out of nowhere, they are blinded by a request from their spouse for a divorce, and all those retirement plans feel like they're about to fly out the window. Suddenly, individuals may find themselves wondering how asset and property division will affect their retirement.

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