I am Attorney Teresa Scibelli with Family Law Offices located in Shrewsbury MA. In all Massachusetts divorces, the issue of division of assets and liabilities will be addressed by the Court. I will put forth your best case for maintaining your fair share of the assets.
Massachusetts is an equitable division state. This means that all property and all liabilities, held be either spouse, whether individually or jointly, are subject to division in a divorce. The manner in which they are divided is determined based upon several factors established by Massachusetts law. Our Family Law office will work with you to determine how those factors affect your case.
My spouse did not contribute to my 401K plan, do we have to include it in the asset division?
In Massachusetts all assets held by either spouse, whether held individually or jointly, are subject to division. However, depending on the length of your marriage, as well as several other factors, your 401k plan, or a portion of it, may be exempt from the division. M.G. L. Ch. 208, section 34 sets forth a long list of factors which the court must consider in determining how your assets will be divided. I work with my clients to analyze these factors and present them to the court to ensure that there is a fair and equitable division of assets consistent with those statutory factors.
Do I have to share my inheritance with my spouse?
There are many factors that a court looks at in determining how an inheritance will affect a division of property, if at all. I will work with you to determine the nature of the inheritance, when it is expected to be received or if it has been received and whether it has been “woven“ into the fabric of the marriage and is subject to division. I will work to make sure you understand Massachusetts case law on inheritance and how it affects your share of the marital property.