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What will happen to your property when you divorce?

On Behalf of | Jun 30, 2017 | property division |

Divorce affects people. It affects the individuals who engage in the legal process as well as their kids, friends, and extended family members. It imposes heavy burdens on the Massachusetts residents who must put their personal lives on paper and ask a court of law to dissolve the legal binds that tie them to their spouses.

People, though, own property, and property is a key component of negotiating a divorce. Property is not only the money that married people hold in bank accounts and the cars they have paid for but also the real property they own, the personal items they have acquired and the investments they have contributed to throughout the course of their lives.

Property can be considered under the sole ownership of one party to a marriage or may be considered owned by both spouses. Although sole ownership of a piece of property may on its face entitle a person to ownership of it after their marriage has ended, different problems can arise during the divorce and property settlement processes that can call into question how the things people own should be separated for their new, single lives.

At the Law Office of Leila J. Wons, P.C., we understand that although a divorce is about ending a relationship, it is also about preserving the wealth and assets that one has worked hard for throughout the course of their life. Our firm handles divorces for clients of who possess significant assets and wealth, homeowners, and those whose financial portfolios include significant investments and holdings. To learn more about her firm’s approach to managing property during a divorce, please visit us online.