High Asset Divorce FAQ
Learn some of the most common questions we are asked at the Mansur Law Group, P.C. in Massachusetts, and their quick answers. For more detailed information from high asset divorce attorneys, contact our firm today.
My spouse and I own business properties, several vehicles and three homes, how can I make sure these assets are divided properly?
The first thing to do is to take inventory of all your assets or items deemed valuable. Make a list, as you will need it for your attorney. This list can include:
- Vacation property
- Businesses or shares in a business
- Art collections
- Valuable jewelry
- Retirement accounts
- Bank accounts
- Antiques and collectibles
- Vested and unvested restricted stock units, stock options
- Trusted or inherited assets
An experienced family law attorney can guide you on how to do a more intense search for assets which may have been forgotten, or those your spouse has kept concealed.
I was given several pieces of collectible art before marriage, from my grandmother. Will I get these in the divorce?
Without a valid prenuptial or post-nuptial agreement, all assets help by the parties no matter how they are held are considered marital property and subject to division under Massachusetts law.
The court does have the authority and discretion to decide that an asset should not be subject to division. The analysis is fact-driven and analyzed on a case by case basis. You need a divorce lawyer knowledgeable in dealing with inheritance issues to make the proper arguments on your behalf to ensure your inheritances are protected.
My spouse is threatening to take all our stock, business holdings and retirement savings. What can I do?
If you are ending a marriage that has significant assets such as numerous properties and businesses, stock holdings and large retirement accounts, securing an experienced divorce lawyer is imperative. A knowledgeable attorney can help you uncover hidden assets and help you strive for what you are entitled to from your marriage.
I am a stay-at-home parent. My working spouse is going to close our joint accounts. How will I pay for an attorney?
If your soon-to-be-ex-spouse was the income provider and closed your bank accounts, your attorney fees may be paid out of marital property. Also, once you file for divorce in Massachusetts and have your spouse served there is also an automatic restraining order on all your assets, which means the status quo should not be interrupted without legal consequences, i.e. cutting off your access to bank accounts or credit cards.
I don’t want sensitive information made public, what can I do?
If you or your spouse earn high salaries, you may not want your finances exposed publicly in a legal divorce proceeding. Many after-50 divorces fall into this scenario. The financial statements filed by the parties are impounded, meaning that they are kept separate from the public case file, but you must also be careful about the information contained in pleadings and other documents filed with the court. A knowledgeable divorce lawyer can ensure private information is kept private.
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