Legal Question in Family Law in Massachusetts
saving money in case of divorce
Is there an account I can start for myself in case I am to get divorced, an account that won't be divided in half between us?
3 Answers from Attorneys
Re: saving money in case of divorce
You can set-up a personal account. However, all marital assets will be subject to division of the court. Also, do not hide assets from your spouse. If it is determined you are hiding assets, the court will be inclined to punish you for that action when and if it determines the equitable split of property.
Re: saving money in case of divorce
no
Re: saving money in case of divorce
You have every right to set up an account under your sole name. However, there is no form of marital property which the Court cannot, at least in theory, order divided. This does not mean that there will of necessity be a 50% division of any asset. If the money is earned or obtained during the marriage, it is almost certainly a marital asset. It may then be divided based on equity -- fairness.