If you are planning to get a divorce in Boston, you may be wondering what happens to your possessions. Property is essential, valuable, and sentimental. When you get a divorce, you want to protect your property interests.
Inheritance is a risky issue in any divorce since family law courts in Massachusetts may not be consistent in how they distribute inherited assets. To better understand how courts may handle your case, you must know some things about how property is generally divided in a divorce. A divorce attorney at Turco Legal can walk you through the complexities of this issue and protect your interests.
Marita versus Separate Property
Generally, divorce courts in the state examine all assets that both spouses have acquired. They will determine whether spouses acquired the assets before or during marriage. This will help judges determine which assets must be divided equitably. Any assets acquired by a couple during their marriage are considered marital property while those acquired before marriage are separate. Under the law, there are factors to consider to determine the fair division of assets. These include the marriage duration, both spouses’ conduct during their marriage, and every spouse’s age, occupation, health, income and sources of income, employability, estate, needs, liabilities, and vocational skills. Also, courts consider every party’s opportunity for future asset and income acquisition, alimony amount and duration, contribution as a homeowner, and every party’s contribution in acquiring, preserving, and appreciating their respective estate’s value.
The Discretion of the Court on Inherited Assets in a Divorce
The majority of inherited assets in the state are treated as separate property. After divorce, the spouse who inherited them will keep them. However, divorce courts may bend the rules on inherited assets. They can consider the circumstances and facts when reaching a decision that is fair for all those involved. These decisions may blur the lines between separate and marital property.
Indeed, couples may also blur the lines themselves. Assets that were originally separate property can be comingled during the marriage when used by both spouses together over time. In addition, a judge may decide to treat inherited assets as marital property if a spouse has a serious financial obligation to their spouse. A skilled divorce attorney can help build a compelling case about the right call to make.
Protecting Your Inherited Property
A divorce attorney can negotiate effective resolutions to protect the rights of their clients without creating strife. If you and your spouse cannot reach a settlement agreement, your attorney can litigate such matters in court.
Aside from being your advocate, a divorce attorney can navigate the complex asset division process effectively. They will make sure all assets are valued properly and disclosed in financial statements. Also, they can negotiate for you and protect your rights at every step of the court proceedings. Your attorney will play a significant role in the following:
- Asset discovery. Your attorney will identify assets that are subject to equitable division, including inheritances that your spouse may try to hide.
- Valuation. Your divorce lawyer will ensure that complex assets such as businesses, retirement accounts, and stock options are valued accurately and fairly.
- Negotiation. Your lawyer will use their negotiation skills and legal knowledge to negotiate a fair divorce settlement for you.
- Litigation. A reliable divorce attorney will represent your interests in court when negotiations fail.
Because the outcome of asset distribution affects your future financial well-being, you must choose an aggressive and skilled divorce attorney in Boston. Navigating asset division in the state requires an understanding of the complex legal landscape and having a strategic approach to dealing with marital property. An experienced attorney can offer the necessary support and guidance during this tough time.
