Asked over 3 years ago - Wrentham, MAFlag
This is an account that was initiated prior to our marriage through payroll deduction. There was a rather large deposit made into the account while we were co habitating in a mutually owned property prior to our getting married. This account has been used during the marriage for a vacation. do I have any claim to those monies? I was advised by a mediator that I was not.
Generally, any and all property is subject to division ins Massachusetts. Your question does not provide enough info to give a more detailed response. For instance, what was the source of the large deposit? Did you contribute any funds to the account? Your question leads me to believe that the retirement account may not be a qualified retirement plan, since you both used a portion of it for a vacation, which would would have likely resulted in a penalty and then the withdrawn funds would have been taxed as income.
As you can see, you should really consider meeting with an experienced divorce lawyer in Norfolk County so that your question can be answered more specifically. Best of luck with your situation!
The extent to which you may be entitled to any portion of your spouse's retirement account really depends on a number of factors. All that can be said is that ALL property is subject to division by the court, and how that property is divided involves a multi-factor analysis. Currently, your mediator is in the best position to advise you as to what a court is likely to do.
The reason that I agree with the previous answer is that division of marital assets is subject to a number of factors set out in the Massachusetts domestic relations statute. No individual asset can be subjected to analysis in isolation without viewing ALL assets and without understanding the full context of the marriage including but not lmited to your stations in life, the lifestyles to which you are accustomed, your educational and employment histories, your current ablities to support yourselves, and many other circumstances.
I have found mediators for the most part to be extremely patient and knowledgeable. If you really and truly believe that something is not right, then if for no other reason than for your own peace of mind, you need to review all of the facts of your case, not just one asset in isolation, with experienced divorce counsel.
This answer is provided for informational purposes only. True legal advice can only be provided in an office consultation by an attorney in your jurisdiction with experience in the area in which your concern lies.
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