Massachusetts Family Law Blog

Nearly every attorney may have a client who wants a prenuptial agreement. Surprisingly, clients with little or no valuable assets are eager to make a prenup because their friends say it is the right thing to do.

Prenuptial agreements, while trendy favorites in media circles, are not necessary or even useful for everyone. They are serious legal documents that can deeply affect many aspects of a marriage. A couple should not casually enter into these agreements without understanding the consequences.

Before the Great Recession, the going philosophy was that the marital home was a prize to be won during the property division process of divorce. Today that philosophy no longer holds as much water as house prices have deflated. The consequence is that couples who go through divorce today try to avoid ownership of a marital home that has lost value. For some, the upkeep of the mortgage on the marital house after divorce poses as a stealth financial disaster.

Years ago, when you and your spouse started what is now a lucrative family business, a parting of the ways may never have entered your mind—but things change.

Now that divorce is about to become a reality, what will happen to your business?

The divorce rate in Massachusetts has fluctuated wildly over the years. According to data collected by the Massachusetts Family Institute, the divorce rate steadily increased for many decades until it dropped sharply in the 1990s. It increased drastically from there, but in 2014, the rate saw a slight drop. 

Divorce is prevalent everywhere in the country, and everyone's case is different. The divorce process is much different for couples who have significant assets to divide between the two. If you will go through a high-asset divorce, it is critical to avoid the following mistakes.