Readers in Massachusetts may be aware that each state has rules regarding the distribution of assets that can occur during a divorce. These rules for property division are combined with those regarding other issues, such as alimony and child support, when a couple in our state seeks to end their marriage in divorce. To achieve the dissolution that they seek, many spouses enter into negotiations centered on the many issues involved in a divorce.
Among the decisions that a couple must make as they end their marriage is how they will divide the assets that have been obtained during their marriage. These assets can include not only real estate and investments, but also things like retirement and bank accounts. As a couple negotiates the end of their marriage, they may be forced to make decisions as to who gets to keep what property. When they cannot agree, a court can step in to make the decision.
In some cases, one spouse may end up paying the other for property or intangibles. In one recent report, authorities noted that this can include the cost of an education that one of the spouses received while the couple was married depending on where the couple resides. This can be subject to property division if the spouse who paid for the schooling seeks to be repaid at the time of a divorce.
It can be difficult for a couple in Massachusetts to arrive at agreements regarding the division of their property. To be certain that all assets are included in the discussion, it may do well for a person involved in a divorce to complete a full review of all available accounts and property. Such actions can assist a person as they work to gain a favorable agreement for the property division in marriage dissolution.
Source: wsj.com, "After Divorce, a Degree Is Costly," Sophia Hollander, Dec. 26, 2012