
What Assets Are Untouchable During Divorce?
For spouses contemplating a divorce, the issue of which assets will be divided is a significant consideration. In the United States, some states are “community property” states, meaning that most property acquired during the marriage, excluding gifts, inheritances, and assets owned prior to the marriage, is considered “marital” and accordingly divisible in the event of divorce. Other states, including Massachusetts, are “equitable distribution” states, meaning that assets held by either party acquired either before or during the marriage, including assets received via gift or inheritance or assets held at the time of the marriage, are “equitably” divided at the time of divorce.
In Massachusetts, absent a prenuptial or postnuptial agreement, the vast majority of assets are “touchable” (i.e., divisible) in divorce. Massachusetts law has a very broad definition of “marital estate” or “marital property” in the context of divorce. The marital estate includes all property to which either party holds title, whenever and however acquired, and wherever situated. The marital “pot” includes everything a divorcing party owns. This does not mean that a judge will necessarily give one spouse’s beloved autographed baseball collection to the other, but that the value of that collection will be taken into account … Keep reading