Most couples have some kind of joint property, be it real estate, cars, boats, household items, bank accounts or investments. Dividing up these joint assets can be a difficult and time-consuming process. 

You may also have joint debts, or debts that you feel jointly responsible for even though they may be in one person’s name. It is the combination of assets and debts that create your marital estate.   

To illustrate this fact, consider the title of “marital estate” used in this definition as a supermarket basket. Each spouse is entitled to put items into the basket and take items out of the basket. An example of an item going into the basket would be income. Other items may go in based upon how they were treated. For example, inheritance money doesn’t normally go into the basket, but any money used to fix up a home is absorbed into the property value that goes into the basket.

During the divorce process, the challenge is determining what belongs in the basket and how to ultimately divide the contents. Matters get complicated when items such as pensions, retirement and inheritances are involved.

Like everything involved in the divorce process, there are exceptions to these rules and assets owned prior to marriage or acquired after marriage may fall under a gray area.

The Law Office of Irwin M. Pollack and The Massachusetts Family Law Group focus on property division matters.  We can help you through this difficult time.  We are committed to helping our clients with the financial aspects of their case. 

When you need answers to questions relating to your property or asset division questions, contact Attorney Irwin M. Pollack and the divorce lawyers and family law attorneys from The Massachusetts Family Law Group. 

Call (800) 910-DIVORCE or contact us for a no-obligation consultation in our Springfield office.  Early morning and weekend appointments are also available in our Worcester, Dedham, Andover, Plymouth and Cape Cod offices.  Contact Us