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You need to think about the assets you don’t want too

On Behalf of | Feb 19, 2022 | Property Division

For many people thinking about divorce, their main focus will be the assets that they care about or perceive as being valuable. Businesses, retirement savings and real estate are often focal points of property division negotiations. People often overlook other property and don’t see the value in locating and putting a price on property they don’t want to personally retain.

However, everything acquired during the marriage in Massachusetts is marital property subject to equitable distribution laws. You can receive an equitable share of any asset, or at least its value, in a Massachusetts divorce.

You would do yourself a significant disservice if you only ever ask for your share of the assets that you want to keep after the divorce.

Your spouse’s personal property could be worth thousands

Does your ex have a thing for name-brand handbags? Have they lined the walls of their office with first edition printings of classic novels? You may not want those possessions, but they may represent tens of thousands of dollars worth of your marital estate.

If you don’t have personal property of comparable value acquired during the marriage, asking for your fair share of that property could be a smart move. Creating an accurate inventory of property that reflects not just your biggest asset but also anything of significant value will help you secure a fair outcome. It’s also important that you can try to establish the fair market value for those assets rather than just relying on their purchase price.

A careful and diligent approach to property division will help you maximize what you receive in a high-asset divorce.