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Tips to consider when discussing property division

Communication between couples going through a divorce can be strained and sometimes awkward. Because of this, people will sometimes try to rush through discussions about how to divide assets in order to move the process along. Attorneys in Massachusetts can help clients to understand how assets are best divided and why some methods of property division look better on paper than in practice.

Property Division Stalemate

Couples in Massachusetts that are seeking a divorce may be surprised to find that even with a prenuptial agreement issues may still arise. Properties and assets acquired during a marriage could potentially cause friction upon separation due to each person's perceived values. These disagreements over property division can cause the individuals seeking divorce to get caught up in legal battles that could possibly go on for months.

Does property division including draining the bank account?

Couples seeking divorce often have varied priorities. For some, simply gaining freedom from an unhappy life is the goal. Others, however, want nothing more than to get even with their spouse, and still others fear only for their financial security. A spouse who wants out of a painful marriage may give little thought to what happens to the marital assets, but most couples are keenly aware that fair property division can mean the difference between an optimistic future and years of struggle.

Massachusetts property division may be helped by prenup

The end of a Massachusetts marriage requires a lot of decisions. These can relate to all parts of the marriage, and often include property division and child custody (for couples who are parents of minor-aged children). In determining whether to award alimony, or spousal maintenance, a court will take into consideration the length of a marriage, the income of the parties and other factors.

Prenup can deal with money management and property division

When it comes to Massachusetts couples who are engaged to be married, sharing information can play an important role. Some say what you don't know can't hurt you, but that may be best limited to past romances and not finances. Certain money-related discussions may ultimately lead to the protection of both parties in property division in the event of a subsequent divorce. This does not mean a divorce must be anticipated, but it is one of life's realities for many people.

Property division: Twitter and Facebook threats to consider

Much has been said about how social networking can have an adverse impact on a divorce such as how Facebook posts can jeopardize a person's chances to get child custody. In some divorces in Massachusetts and elsewhere, social networking has even affected the property division process if posts on Facebook or Twitter revealed hidden assets. Divorcing couples are often advised to stay away from this revolutionary way to make sure everybody knows everything about them.

Property division can determine post-divorce financial stability

Divorce can cause financial ruin if care is not taken. Massachusetts couples may not realize that a significant part of their net worth can be lost in a divorce, making it tough to run two households afterward. However, precautions can be taken to limit the financial impact. Careful consideration is necessary about what is accepted in the property division process.

The types of assets accepted in property division is important

Along with the emotional toll of divorces on most Massachusetts people who decide to go their separate ways, the financial implications can be devastating if precautions are not taken. There is typically an immediate effect when one spouse moves out, creating a second household with all the associated expenses. While this can cause a setback, the worst may be to come if care is not taken during the process of property division.

Be on guard for "hidden" property division fees

Most Massachusetts couples will spend the bulk of their divorce focused on negotiating the division of marital assets. This is an understandable approach, and the outcome of property division will have an impact on both parties for many years to come. What many spouses fail to realize, however, is that there are a number of "hidden" expenses that come with various property division choices. Avoiding those costs can make a world of difference in the bottom line.

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Salem, MA 01970

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