Division of Property
North Andover MA Division of Property Mediation Lawyers
Allan and Amy Beth Baron have had more than 20 years of experience helping couples with the division of their property as part of mediating divorces in the North Andover area. At Baron Law & Mediation, you and your partner will find help with property division and also help in coming to a fair agreement based on the mutual goals of the parties and in a form and with content to meet the approval of the court.
What is the Division of Property?
Division of Property is the agreement to retain, trade off or sell assets and liabilities considered by a court to be marital property of a couple. Massachusetts follows an “equitable distribution” (fair, not equal) theory based on a variety of factors. This can be completed by agreement through divorce mediation; or through litigation, which results in a judicial order.
How is Division of Property Determined?
Division of Property has a few different aspects to it. These include Assigning Value and Dividing the Property.
The process of assigning value begins when a monetary value is assigned to each item of real and personal property. Some items are easy to value such as a bank account. Some items like real estate and significant artwork and collectables may be appraised to find the value. Retirement assets like IRAs and 401ks may be apparent while pensions are more difficult to value and may require the appropriate professional, such as an actuary, CPA, or financial analyst to help you through this area.
The actual division of property occurs afterwards, and if the couple cannot agree, the judge will do so based on a variety of criteria, including but not limited to the following:
Contact Baron Law & Mediation Today
Our mediators, Allan and Amy Beth Baron, are a unique male-female team dedicated to help clients generate options and explore solutions that fit their situation.
For more information about divorce mediation services, and the specific element of division of property in Massachusetts, contact Baron Law & Mediation today for a free initial consultation. We offer flexible appointment times and can meet at our easy-to-find location in North Andover or other locations by request. We are proud to offer our services to help couples thinking of getting a divorce in Wilmington, Andover, Haverhill, Reading, Lawrence, Lowell, and other communities in Essex County and Merrimack Valley.
Contact us today at 978-674-8530 to learn more!