Divorce is a complicated process on a number of levels. To start, it’s an emotional process, but it also can become quite complex with it comes to legally dividing property between divorcing spouses. One of the most common questions we receive is something along the lines of “what will happen with certain personal assets in my divorce, such as designer clothes I own?” This is a good question, and the answer could use some exploring. Please continue reading and speak with a knowledgeable Bristol County divorce attorney to learn more about what will happen with your designer clothes and how our legal team can help protect what’s yours. Here are some of the questions you may have:
What will happen to my designer clothes and other pricey assets in a divorce?
Often, when couples don’t have a prenuptial agreement in place, their assets will be equitably distributed by the court, meaning they will be distributed in a manner the court considers fair and just. That said, when it comes to pricey assets, such as designer clothes, if spouses cannot agree on simply keeping what’s theirs, especially if they argue marital funds purchased the clothes in question, they will often have to be separately valued (if determined marital property) and from there, the courts will distribute their value equitably.
You should note that certain assets, such as collectible coins, or sports memorabilia, must first be appraised by an expert before being subject to equitable distribution, all items entering equitable distribution must be accurately valued for them to be properly distributed. If you’re looking to keep any of these special assets, you’ll need to hire an attorney who can bring the right experts into the equation and fight for what’s most important to you.
What can I do to protect my assets from a divorce in Massachusetts?
Aside from hiring an attorney to represent you, there are certain actions you can take to protect assets from a divorce entirely, such as drafting a prenuptial or postnuptial agreement. A prenuptial agreement is a document created before marriage, wherein you and your future spouse outline who is entitled to certain assets, should you ever get divorced. A postnuptial agreement serves the same essential purpose, but is drafted exclusively after marriage. If you’d like to learn more about either agreement or you need a dedicated legal advocate in your corner, reach out to our firm today.
Contact our experienced Bristol County firm
If you need help through a contested divorce or with any other family law matter, contact The Law Offices of Cynthia L. Hanley, P.C. for a consultation today.
