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Property division relating to financial accounts

Deciding to file for a divorce is a decision that many Massachusetts couples do not take lightly. This decision requires careful consideration and planning. Part of that planning is property division. Many couples discover that dividing their physical and financial assets can be incredibly difficult, especially 401(k) or similar accounts.  

During the divorce proceedings, a spouse may be informed that he or she might be entitled to a portion of the other spouse's retirement account. An ex-spouse can have documents drawn up to have his or her share of the funds transferred into an IRA or another account. It is also possible in some circumstances for an ex-spouse to receive the funds directly as cash. 

Shannon Beador's husband demands joint child custody

Determining visitation schedules for children can be difficult for many Massachusetts couples going through a divorce. However, there are many parents who are not completely satisfied with visitation rights. Some parents would rather share child custody as evenly as possible.

Shannon Beador recently filed for divorce from her husband of 17 years, David. In response, he has demanded that physical and legal custody of their children be shared 50 percent. Since the couple's separation, their children have resided with Shannon and have supposedly refused to talk to or see David on several occasions. He claims that this is because Shannon does not encourage the children to pursue contact, nor does she foster a healthy relationship with their father.

Will changes in alimony laws cause lengthier divorces?

Many people in Massachusetts may know someone who has gone through or is currently going through a divorce. Some of these divorces may have gone smoothly, but others might have been difficult and ended bitterly. Alimony is one of the many things that can cause difficulties during divorce proceedings. There are some who speculate that the upcoming changes to the Internal Revenue Code regarding the treatment of alimony may result in longer and more expensive divorce proceedings.

These changes will take effect in 2019. Those who are making alimony payments will no longer be able to deduct the payments on their taxes. Further, those who are receiving the payments will no longer have to count this money as taxable income. Because of these two major differences, some people believe that divorces may take longer due to disagreements between spouses. 

How to help kids cope with divorce

While you are grieving the end of your relationship with your spouse, it is very likely that your children are mourning the breakup of their family. Though your marriage was between you and your partner, your kids are a product of it and used to living in a home with two parents. You need to focus on your personal and financial recovery, but the health of your kids may be at risk, too. 

There are ways you and your soon-to-be ex-spouse can work together to help your children cope with divorce. Here is a brief rundown of how to ease the effects of the separation for your kids. 

Man arrested for failure to pay child support since 1998

Divorce has become a fairly common occurrence across the nation. Couples with children work out new routines, and many parents have no problems making child support payments. However, as some Massachusetts residents may know, there are a few parents who will go to extraordinary lengths to avoid making child support payments. 

One man went so far as to flee the country in order to avoid paying child support. He and his wife divorced in 1989, and he was ordered to pay child support. However, instead of making the payments, he sold an internet business and eventually fled the country. Federal courts filed an indictment nine years later in 1998 for his failure to pay child support.

Property division after lengthy a lengthy marriage

Older couples are choosing to divorce more often in recent years as some Massachusetts residents may have noticed. Some of these couples who have been together for decades have a significant number of assets, and property division can be difficult. One couple who had been together for nearly seven decades now faces the task of dividing a multi-million dollar real estate empire. 

The ex-wife's attorney has been pushing the judge to end the marriage sooner rather than later. Because of their ages, she 89 and he 90, time is a concern for both of the former spouses. Since the divorce was granted before her death, the ex-wife is entitled to half of the real estate empire, but if she had died before the divorce was final, then she would have only been entitled to about 30 percent. It also would have taken a significant amount of time to catalog and divide the far-flung assets, which include shops, restaurants and office buildings, before the divorce was finalized.

Tips for a late-in-life high asset divorce

Massachusetts residents may have noticed that in the last several years there has been an increase in the number of divorces amongst older couples. Divorce at any age can be difficult, but in some cases, it may be more so for older couples because they have had more time and opportunities to collect a wide variety of assets. There are several things that couples going through a high asset divorce might keep in mind in order to ensure that everything proceeds smoothly.

Keeping detailed records can be a great help to both client and attorney. These records might include a list of assets or old job records. Lists of assets should include items or accounts that are both individually and jointly owned in order to avoid confusion and to help make it easier to determine which assets need to be divided. Employment records might reveal stock options or other benefits that one of the spouses might have forgotten about. 

Father faces prison after breaking child custody agreement

Parents in Massachusetts going through a divorce know that the process can be just as difficult for the children as it is for the parents themselves. Determining child custody can put an incredible strain on the relationship between the parents, especially if they already do not get along. In some cases, a parent may feel the need to take desperate action in order to retain custody. 

A father is currently facing up to three years in prison for the kidnapping of his own child. He and his ex-wife had been ordered to share custody of their child after their divorce last year, but the child would live with the mother for the majority of the time. The man openly criticized his ex-wife and even told a friend that he would be willing to leave the country with his child in order to retain custody.

An amicable ending to a high asset divorce

Divorces are often depicted as volatile and unfriendly, to say the least. This is especially true in celebrity divorces or in a high asset divorce. However, many Massachusetts residents may be relieved to know that this need not be the case. Gwyneth Paltrow and her ex-husband, Chris Martin, have been able to remain friendly even after their divorce in 2016.

The celebrities had two children during their time together, a boy and a girl. When asked about how she and her ex-husband were able to remain friendly during the divorce, Paltrow responded that she and Martin had a common goal in mind. She stated that she and Martin wanted their children to be as unaffected as possible by the divorce and that they wanted to maintain a good family environment for the children.

3 essential tips for filing taxes after divorce

Filing your taxes is always frustrating and complex, but divorce may make tax season even more stressful for you. Divorce has a significant impact on your taxes, so you should do some preparation before you try to do it all at the last minute.

Getting a divorce changes how you file your taxes, including any deductions or exemptions you claim. Here are three essential tips regarding divorce and taxes.

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Salem, MA 01970

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