Massachusetts couples embarking on the divorce process know various important issues lie ahead. Property division tends to rank high on the list of priorities, especially for those who own valuable and complex assets.
When high-asset couples divorce, alimony often becomes a source of contention and worry. Spouses with high incomes worry about potentially having to shell out substantial amounts for an indefinite period while lower earners may wonder how they will meet financial obligations.
A prenuptial agreement, entered into before marriage, can serve as a way for Massachusetts couples to decide how to apportion their assets in the event of a divorce. Especially for high-asset couples, a valid prenup can protect property and cut down on potential litigation.
Massachusetts is an equitable division state. This means that, in a divorce, courts apportion marital property between the spouses in a way they consider most fair under the circumstances.
When you sign a pre- or postnuptial agreement, you assume that it will protect you and your spouse from the hassle of litigation if you were to ever separate. Many people are finding that this is not true, though, and are facing the reality of a contested prenup. There are a few reasons this may happen, and you should be aware of the potential complications that can stem from such an agreement.
As a woman whose spouse makes a lot of money, you might be wondering what assets are subject to division during divorce. For example, what about all that money in his retirement plan? Will that be divided? How can you be sure he is being honest about all his retirement funds?
Divorce is not just for the young. The same causes of divorce in newer marriages are present in older marriages, too. These problems may be new or may have been around for decades.
If you are considering divorce, you might be stressing about what will happen to your retirement accounts. It is important to understand how Individual Retirement Accounts are divided so you can anticipate the tax implications. Dividing these complex assets requires careful consideration, so here is a guide to the process.