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Avoiding common financial mistakes when getting a divorce

When spouses in Massachusetts are pursuing a divorce, there are precautions they can take in order to keep the process as simple as possible. The effects of the end of a marriage can continue on long after the divorce decree is finalized, especially when it comes to financial matters. Due to this, there are some major issues spouses should avoid during the process.

Saving money when a marriage ends

When a long-term marriage ends in Massachusetts or across the nation, one person might need to pay spousal support, especially if there is a significant discrepancy in the earnings between the two. Even when alimony is a likely factor, the other party might contest it. However, the expenses and related legal fees needed to do this might be prohibitive and could wind up costing the parties more than the actual spousal support.

Higher rates of divorce for the religiously conservative


It is common for an individual's upbringing to shape who they become. People often hold and maintain the values they grew up with. For some couples in Massachusetts, components such as religion, political party and education philosophy will shape the couple's marriage. It is these facets that could also affect the relationship and the end of a marriage.

Dealing with the fear of the unknown in a divorce


There are life events that seriously impact the lives of married couples in Massachusetts. For some this might be relocating, changing careers or having children. Although positive and exciting events impact their lives in a positive and uplifting way, some life events are challenging and very emotional. When a couple decides to get a divorce, several components are affected. One or both spouses might have to move, their work performance could go down, they have an increase in stress and they might have issues and disputes surrounding child custody.

What to expect financially in a Salem divorce


A Salem divorce can be an emotional and stressful experience for all the parties involved. This is especially true in a contested divorce, where disputes over property division, child custody and finances can result in extended litigation. However, there are several things both men and women can do to ease the difficult process that all too often is divorce.

Looking ahead towards retirement after a divorce


Couples going through a divorce in Massachusetts have many tough decisions to make. In addition to child custody and support concerns, couples are left with the task of dividing the marital property between them. When this happens, couples should not only consider their immediate needs but also their long-term financial goals, such as retirement.

Mistakes to avoid in a surprise divorce

Couples in Massachusetts never expect their marriages to end in divorce, and do not generally plan for a life after their marriage. But when a spouse wants a divorce "out-of-the-blue," the experience can be jarring. A divorce can be a particularly emotional time, and when emotions take over, people tend to make rash decisions that can adversely affect their divorce. This is particularly true if the end of a marriage is sudden or contentious.

Massachusetts businessman in midst of high asset divorce

Christy Mihos is a staple of life in Massachusetts. At one time he owned dozens of stores on Cape Cod and was the vice chairman of the Massachusetts Turnpike Authority. Mihos also twice ran for governor of Massachusetts, although both campaigns were ultimately unsuccessful.

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