Conveniently Located in Holden, Massachusetts
Property division is a central financial issue in divorce. To fairly divide assets, we have to accurately estimate their value. That isn't always easy. For example, what's a house worth in a temporary real estate slump? What's the value of a pension that will pay $1,000 a month starting in 20 years? How can you divide a 401(k) without paying taxes and penalty?
Attorney Lasher's background in finance is invaluable in answering questions like these. He has decades of experience dealing with complex financial issues. He was formerly a chief financial officer (CFO), teaches both law and finance, has written a college textbook on finance, holds a Ph.D. in finance/economics, and has earned his certified public accountant (CPA) designation.
Equitable Distribution - Massachusetts Property Division Rules
In Massachusetts, all property owned jointly or by either party is potentially divisible in a divorce. It doesn't matter where it came from or whether one party owned it prior to the marriage. It's all subject to division. That includes pension rights, retirement accounts, interests in businesses and amounts owed to either party. Massachusetts is an equitable distribution state, which means everything is divisible into proportions the court deems fair.
Attorney Lasher will work with you and your spouse to ensure a fair and balanced distribution of your property that will be acceptable to the judge hearing your case.
Factors Influencing Asset Division
The fact that everything is potentially divisible doesn't mean all property is split evenly. Courts consider the entire situation in deciding what's fair. That includes who earned the money, whether it was inherited or previously owned, each party's age, their noneconomic contributions to the marriage, and their ongoing incomes and needs.
The length of the marriage is also important. In a short-term marriage, a judge will give considerable weight to who owned what before the wedding and how the money was earned. After a long-term marriage, that's generally not the case. The classic example is a husband who earned money and a wife who kept house and raised children. There, courts tend to recognize the couple as equal partners and divide assets accordingly.
Attorney Lasher's financial experience can help you apply these concepts to your situation in coming to a split that's acceptable to both of you and a judge.
Indivisible Assets - Homes and Businesses
Indivisible assets like the family home can be a problem. If one spouse wants the house, the easiest solution is to let him or her keep it, compensating the other through refinancing or with other cash. Unfortunately, financial resources sufficient to do that often aren't available.
Businesses also require financial expertise. It's counterproductive to award one spouse an interest in a business run by the other spouse. Nevertheless, the business is a marital asset, and the departing spouse may be entitled to a share. It's therefore crucial that the business's value be established by a financial professional.
Attorney Lasher's financial background has proven invaluable in creatively solving problems like these.
Debts
Similar fairness concepts apply to debts. Who incurred the debt and was it incurred for the benefit of the family or just one person? And if one person, did the other know about it?
Massachusetts Property Division Lawyer
With a long history in finance and financial negotiations, attorney/mediator Lasher has the knowledge and experience you need to help you to value and divide your marital property. For a consultation, call attorney William R. Lasher today at 774-345-9996.