Barbara J. Katzenberg, Attorney at Law

Property Division Archives

When divorce means splitting the family business

The end of a marriage in Massachusetts means that the property and assets acquired during the marriage will need to be divided up. Property division during a divorce can be very complicated. As emotions run high divorcing individuals often commit costly mistakes. This is especially so when ending a marriage also means splitting up the family business. Recently a columnist on a national news site gave some helpful tips that can help people in this situation through the property division process.

Valuing a family business in the event of divorce

As an equitable distribution state, Massachusetts requires that all properties and assets that are acquired during a marriage to be divided between spouses if they divorce. Fortunately, there are exceptions to this general rule; some assets are not considered marital property and can be retained by their original owner. These include heirlooms, gifts and inheritances that are maintained separately by their owner.

Mediation helps resolve property division disputes amicably

Dissolving a marriage can be so emotional that many experts frequently advise both parties to act rationally, and never let emotions rule their decisions. However, that could be easier said than done. In Worcester, Massachusetts, divorcing couples should know that their future financial situation could depend on the results of property division, and a financially trained legal mediator can lend a rational hand to negotiations.

A prenuptial agreement makes property division easier

According to a survey of divorce lawyers, prenuptial agreements are on the rise, and more women are requesting them. 60 percent of the lawyers surveyed reported that they have seen an increase in prenuptial agreements within the last three years, and 46 percent have seen more women asking for them. Most of those agreements deal with protecting separate properties, alimony and spousal support and property division.

Spouses' concerns regarding property division and finances

Divorce is commonly accompanied by an array of emotions. However, the worry of most spouses may be prevalent not only in the failed marriage, but also with respect to one's financial well-being. Readers in Worcester, Massachusetts, understand how stressful it is to think that their lifestyle may change after the divorce. There is always a possibility that such a change may take place when going through property division.

Flaws in property division can result in retiring short

Recent studies found that more and more people in their 50s are getting divorced here in Worcester, Massachusetts. The trend in more mature people divorcing is an indication of the changing dynamics of modern American families and the relative ease of filing for a divorce.

What Worcester ex-couples should know about property division

One of the most challenging aspects of a divorce is property division. It can be very difficult for divorcing couples to take note of every single item of property acquired before and during the marriage. Worcester couples would be wise not to underestimate the importance of this part of divorce since it is crucial to starting a new life.

Unearthing hidden assets for a divorce's property division

More often than not, Worcester divorcing couples put a premium on the emotional aspect of divorce. Of course, this is a foregone conclusion since marriage dissolution can be very emotionally charged. However, there is another aspect that needs more scrutiny: the financial aspect.

Credit and joint debts in property division

Many Worcester readers may assume that property division in a divorce can be resolved through a 50/50 split of assets and marital properties. But in Massachusetts, the assets and properties are divided through equitable distribution, wherein the marital property must be identified and valued. However, assets and properties are not the only things subject to division; debts incurred during the marriage are also included.

Are You Ready To Talk?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Office Location

390 Main Street
Suite 750
Worcester, MA 01608

Phone: 508-471-3281
Fax: 508-792-0832
Map & Directions