January 31, 2013 (Press-News.org) Property division during divorce
People getting a divorce often have concerns about property division. Many couples are able to reach a property division settlement outside of court, and the divorcing spouses sign a settlement agreement that is generally approved by a judge. However, if the parties cannot come to an agreement, a family court judge will decide how to divide the couple's property based on Massachusetts law and will order a property award.
Equitable distribution
Massachusetts is an equitable distribution state, as distinguished from community property states. In equitable distribution states, a couple's marital property is not necessarily divided 50-50 upon divorce. Instead, the marital property is divided fairly, which may not always mean it is divided equally.
Process of property division
The family court first classifies which debts and properties of the parties are marital and which are separate. The distinction between marital and separate property is incredibly important because although marital property is divided during a divorce, separate property generally remains the property of the spouse to which it belongs.
Classifying an item as marital or separate property can be somewhat confusing. The general rules is that property and debts acquired during the marriage are generally marital, but the property and debts acquired by one spouse before the marriage or by court award, gift or inheritance are considered separate property.
This distinction can become more difficult to make because couples often combine and mix separate property with marital property during the course of their marriages. Items purchased by the funds of separate property generally also qualify separate property. The family court likely will find items purchased by the commingled funds of separate and marital property as marital property. Businesses that one party started before the marriage but continued during the marriage can become marital property depending on the circumstances. Finally, any property or debts that were deemed separate during the marriage will usually remain separate during the division of property.
The family court then calculates the pecuniary value of the marital debts and property and distributes them in an equitable manner. The factors to be considered are the parties' ages, medical conditions, duration of the marriage, occupations, skills, incomes, assets, future employment prospects and the needs and liabilities of the parties.
If you have questions about property division
Property division during a divorce can be complex. Valuating businesses and other assets properly is necessary for fair distribution of marital property. If you have questions about property valuation or division during a divorce, you should speak to an attorney with experience in family law. Divorce lawyers with experience in family law can not only represent a divorcing husband or wife but also help the client negotiate a fair property division settlement.
Article provided by Schneiders & Schneiders
Visit us at http://www.schneiderslaw.com
Property Division During Divorce
One of the main issues that arises in divorce is the division of property. Learn more about Massachusetts' rule of equitable distribution.
2013-01-31
ELSE PRESS RELEASES FROM THIS DATE:
How Are Florida Parenting Plans Determined?
2013-01-31
How Are Florida Parenting Plans Determined?
One of the most difficult issues when a relationship breaks down is deciding where a child or the children will live. In the process of working out a parenting plan, each parent will generally have less time with the children. This can be a difficult adjustment.
Developing a parenting plan and time-sharing (formerly known as child custody and visitation) agreement needs to account for the children's best interests. The court uses the "best interests of the child" standard when reviewing any agreements or deciding ...
Driving Without A License Is No Joke In North Carolina
2013-01-31
Driving without a license is no joke in North Carolina
In late 2012, 11-year-old Steven Dixon was hit by an unlicensed driver while walking to his bus stop in Forsyth County, North Carolina. "I was walking and I heard something go boom... [the car], it hit me and ran over my legs," said Steven. Both of his legs are now in casts. Unfortunately, unlicensed drivers are not uncommon in North Carolina. State Trooper Robert Reavis says he pulls over about one unlicensed driver a day, which is not far from estimates for the entire state.
A recent AAA study revealed ...
A Comparison of Chapter 7 and Chapter 13 Bankruptcies
2013-01-31
A comparison of Chapter 7 and Chapter 13 bankruptcies
With such a terrible economy, it is no surprise that many people are struggling financially. Unexpected events such as a job loss or sudden illness can cause even the most responsible people to fall behind on their bills. Many people struggling with mounting debt consider the possibility of filing bankruptcy. Whether bankruptcy is right for you will depend on your specific situation.
Chapter 7 bankruptcy
The most common types of bankruptcy filed by individuals are Chapter 7 bankruptcy and Chapter 13 bankruptcy. ...
Money Raised at Pet Expo to Impact 2,500 Students
2013-01-31
In an effort to promote pet responsibility at an early age, the Pet Care Trust, with the assistance of the World Pet Association and other pet-related businesses, raised over $8,000 for the Pets in the Classroom Grant Program during America's Family Pet Expo, held November 3-4 in Puyallup, Washington. The money raised will go directly to helping approximately 50 teachers enhance their classrooms and curriculum through the aid of classroom pets, impacting nearly 2,500 students.
The World Pet Association, host of America's Family Pet Expo, donated booth space to the Pet ...
Local Realtor Goes to the Dog House
2013-01-31
As a Realtor, Mary Ellen Wood of Louisville's Homestead Real Estate, LLC, routinely hosts clients toshowings of available properties on the market. What's different about Wood's service is that she adeptly recommends dog-friendly properties for those who consider the family pet in a home purchase.
Wood, owner of a Golden Retriever named Tonka, said that those on the market for a new home have to consider whether the new space will be right for the whole family, including canines. Many condos and townhomes have dog height and weight limitations, which takes some developments ...
Toys"R"Us Canada Returns as Diamond Sponsor for 18th Annual Starlight Gala
2013-01-31
Starlight Children's Foundation Canada is pleased to announce Toys"R"Us and Babies"R"Us Canada are returning as Diamond Sponsors for their 18th annual Fundraising Gala on April 6, 2013 at The Fairmont Royal York.
Since 1998, Toys"R"Us and Babies"R"Us have supported Starlight through annual in-store sales of Starlight Stars and the annual Starlight Gala. "We are pleased and proud to be the lead sponsor for Starlight Children's Gala" said Kevin Macnab, President, Toys"R"Us Canada "Children have always been ...
Philadelphia's Beck's Cajun Cafe Starts Lunchtime Delivery During Super Bowl Sunday
2013-01-31
Three years ago, Chef Bill Beck brought 'Nawlins favorites to Philadelphia with Beck's Cajun Cafe at the Reading Terminal Market. In July last year, he opened a second Cajun eatery at Amtrak's 30th Street Station. Starting on February 3, Super Bowl Sunday, Beck's will have a new option for those craving the hearty, spicy flavors of southern Louisiana and the Gulf - lunchtime delivery!
Diners can enjoy Train Wrecks, po'boys, jambalaya, muffaletta, bread pudding and more in their homes, offices and classrooms by calling Beck's Cajun at 215-382-2800 from 11 a.m. to 3 p.m. ...
World Water Day Concert - Slated for March 22, 2013
2013-01-31
World Water Day Concert - Slated For March 22, 2013
Evening of Breathtaking Music, Multi-Media Relatedness, Art & Celebrating Water
On Friday, March 22, 2013, the world will celebrate World Water Day. And in the Big Apple, there will be a World Water Day Concert just blocks from the United Nations, which created World Water Day in 1992.
A portion of the evening's proceeds will benefit 501(c)3 charity Water.org, one of the world's most effective water organizations, founded by the famed actor and philanthropist Matt Damon, and the world-renowned water authority ...
SoleraTec Releases New Phoenix RSM Integration On WD Sentinel DX4000 NAS
2013-01-31
SoleraTec LLC, a provider of innovative video lifecycle management and storage products, is announcing the integration of its Phoenix RSM surveillance video management software onto the WD Sentinel DX4000 small office storage servers. Installing the Phoenix RSM software into the WD Sentinel NAS unit creates a feature-rich video surveillance appliance with sophisticated video management capabilities. This appliance can support up to 10 IP-cameras on a single WD Sentinel DX4000 storage solution. Coupled with SoleraTec's intuitive video management capabilities and dynamic ...
US-Based Leading Call Center Launches New Website with New "Voice"
2013-01-31
Presenting a witty, light-hearted, yet informative "voice", VoiceNation's highly sophisticated new website "speaks" to visitors through easy-to-understand solution-based content and entertaining visuals. Visitors can quickly glean information about the company's innovative solutions, plans and pricing and activate an account online in just minutes. The easily navigable site effectively communicates VoiceNation's culture, values and purpose while generating a feeling of trust - a key element of the buying decision. Educational videos appear on almost ...
LAST 30 PRESS RELEASES:
Dolphins use a 'fat taste' system to get their mother’s milk
Clarifying the mechanism of coupled plasma fluctuations using simulations
Here’s what’s causing the Great Salt Lake to shrink, according to PSU study
Can DNA-nanoparticle motors get up to speed with motor proteins?
Childhood poverty and/or parental mental illness may double teens’ risk of violence and police contact
Fizzy water might aid weight loss by boosting glucose uptake and metabolism
Muscular strength and good physical fitness linked to lower risk of death in people with cancer
Recommendations for studying the impact of AI on young people's mental health proposed by Oxford researchers
Trump clusters: How an English lit graduate used AI to make sense of Twitter bios
Empty headed? Largest study of its kind proves ‘bird brain’ is a misnomer
Wild baboons not capable of visual self-awareness when viewing their own reflection
$14 million supports work to diversify human genome research
New study uncovers key mechanism behind learning and memory
Seeing the unseen: New method reveals ’hyperaccessible’ window in freshly replicated DNA
Extreme climate pushed thousands of lakes in West Greenland ‘across a tipping point,’ study finds
Illuminating an asymmetric gap in a topological antiferromagnet
Global public health collaboration benefits Americans, SHEA urges continued support of the World Health Organization
Astronomers thought they understood fast radio bursts. A recent one calls that into question.
AAAS announces addition of Journal of EMDR Practice and Research to Science Partner Journal program
Study of deadly dog cancer reveals new clues for improved treatment
Skin-penetrating nematodes have a love-hate relationship with carbon dioxide
Fewer than 1% of U.S. clinical drug trials enroll pregnant participants, study finds
A global majority trusts scientists, wants them to have greater role in policymaking, study finds
Transforming China’s food system: Healthy diets lead the way
Time to boost cancer vaccine work, declare UK researchers
Colorado State receives $326M from DOE/EPA to improve oil and gas operations and reduce methane emissions
Research assesses how infertility treatments can affect family and work relationships
New findings shed light on cell health: Key insights into the recycling process inside cells
Human papillomavirus infection kinetics revealed in new longitudinal study
Antibiotics modulate E. coli’s resistance to phages
[Press-News.org] Property Division During DivorceOne of the main issues that arises in divorce is the division of property. Learn more about Massachusetts' rule of equitable distribution.