The end of a marriage will bring many significant changes, especially to a person's finances and ability to maintain the same lifestyle. While a significant change in lifestyle is not always avoidable, it is possible for a person to prepare and outline practical expectations for their life after the divorce is final. This effort can make it easier and much less stressful to navigate a high asset divorce.
Upon making the decision to separate or end a marriage, Massachusetts parents must consider various important financial matters, including college savings accounts. In a high asset divorce, it is critical to consider the long-term implications of any financial decisions, such as the protection of savings set aside for the payment of college tuition. It is possible to protect these savings and ensure that they are used appropriately.
The end of a marriage can be difficult, and for many couples, it is important to factor in important seasons and events before moving forward with the legal process. For a person facing a high asset divorce, the timing of the divorce can be a critically important factor for the future. There are many reasons why people may delay or plan a divorce, often waiting until after the holidays are over.
When issues are present in a marriage, couples in Massachusetts need to determine what is best for their future. Even if they decide that a divorce is their best option, the process can be very life altering and cause hardships in their personal and professional life. The emotions and disputes that occur during the dissolution could significantly affect the future of the soon-to-be ex-spouses, especially when it is a high asset divorce.
With the legal changes to alimony determination now setting in, it may come as no surprise to Massachusetts residents that opinions on divorces and how to handle them change over time. It's hard not to notice that societal opinions on relationships appears to have changing, with new studies showing that more people are cohabitating before marriage, waiting to get married longer and even sometimes avoiding marriage altogether. Experts have also noticed growing acceptance of divorce, indicated by so called "grey divorces" amongst individuals over the age of 50.
When a divorce is finalized, it doesn't necessarily mean an end of legal troubles between ex-spouses, especially when the issue of child custody is involved. Disputes over visitation rights, custody arrangements or alimony payments can all cause additional problems. While all of these problems could be avoided through cooperation outside of a courtroom, sometimes agreements can't be made.
For most readers here in Massachusetts, a billion dollars is only an abstract concept that is impossible to conceive of in real life. But for a select few, a billion dollar transaction is a part of daily life. When these billionaires decide to divorce, their complex property division settlements often make national news.
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.