Legal Question in Family Law in Massachusetts
My husband and I are on the brink of filing for divorce. Several years ago, when we were already married, my close relative tragically passed, and I received the proceeds from the distribution of his life insurance, which was strictly in my name. My husband and I used this money as a downpayment for what is currently our primary residence. None of his personal money, or anything coming from our joint bank account, was used for the downpayment. Is the entire house value now considered a marital property, and thus would be divided 50/50 in case we decide to sell post-divorce, or will the amount of downpayment be subtracted prior to division, as it was 100% financed with my personal assets?
2 Answers from Attorneys
My first and best bit of advice is for you to hire an attorney to represent you.
In a divorce, the job of the probate and family court is to make an equitable (fair, not equal) division of the marital estate. The marital estate consists of all property of either party, whenever and however acquired. So the court will start with the presumption that the house is part of the marital estate and it will divide that asset in concert with all of your other property in a fair manner. What is fair depends on a number of factors, including the age of the parties, the health of the parties, the parties' relative contributions over the years, employment, education, etc.
To be safe, you have to assume that a court is going to start with the presumption that the house should be divided roughly equally between the parties. It is also not possible to view this property in a vacuum, separate from other assets, income, debts, and property of the marriage.
My advice would be to retain counsel to assist you in filing for divorce and, if you wish, working out a negotiated and favorable marital settlement. I invite you to contact our office if you would like to discuss your case with an attorney. 617-357-4898.
Similar to the prior attorney's response the division of the marital assets will be divided equitably. The funds will be considered part of the marital estate. Every marital asset/liability will be reviewed together and divided based on 15 factors.
If you and your husband are agreeable to the terms of the divorce, then it is more economical to mediate your case.
I suggest you contact an attorney to discuss your specific situation. If you have any additional questions or want to provide me with more information, then contact my office at 617-410-6467.
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