Dividing Marital Property and Debt
Dividing marital property and debt can be a difficult task to take on. Deciding what to split and what to keep together is always very hard to have both parties agree on. There are two main types of property that will be labeled as the process begins. These types of property are community property and separate property. As a rule of thumb, any property that was purchased or owned before marriage is filed under the term separate property. Anything that is separate property would go to whoever purchased the asset; it would not be split between the two parties. This rule remains for debts; if it was a pre-existing debt then whoever began the debt is held responsible, it would not be split 1.
Community property is anything that was purchased or incurred while the couple was married. This can be anything from assets to debt. These properties would be split between the parties. This does not, however, mean evenly. It will be decided during proceedings how the property will be divided, it is not always evenly but rather it is dispersed “fairly” 2.
Going through the process of dividing marital property can be a confusing and stressful time, especially when you don’t know the rules and reasoning behind why certain things happen. At LPLG Law we can help not only alleviate the stress of dividing marital property but also make sure you receive what you are entitled to. Our attorneys are very experienced in handling these often contentious issues and are ready to help. For more information on how we can help or what steps you need to take to secure your portion of property please give us a call!
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Labrie, Pouliot, LaRocque & Guiel, P.C. handles medical malpractice cases in Hampden and Hampshire County MA, including Chicopee, Holyoke, and Springfield MA.