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Property division: Twitter and Facebook threats to consider

Much has been said about how social networking can have an adverse impact on a divorce such as how Facebook posts can jeopardize a person's chances to get child custody. In some divorces in Massachusetts and elsewhere, social networking has even affected the property division process if posts on Facebook or Twitter revealed hidden assets. Divorcing couples are often advised to stay away from this revolutionary way to make sure everybody knows everything about them.

Property division can determine post-divorce financial stability

Divorce can cause financial ruin if care is not taken. Massachusetts couples may not realize that a significant part of their net worth can be lost in a divorce, making it tough to run two households afterward. However, precautions can be taken to limit the financial impact. Careful consideration is necessary about what is accepted in the property division process.

The types of assets accepted in property division is important

Along with the emotional toll of divorces on most Massachusetts people who decide to go their separate ways, the financial implications can be devastating if precautions are not taken. There is typically an immediate effect when one spouse moves out, creating a second household with all the associated expenses. While this can cause a setback, the worst may be to come if care is not taken during the process of property division.

Be on guard for "hidden" property division fees

Most Massachusetts couples will spend the bulk of their divorce focused on negotiating the division of marital assets. This is an understandable approach, and the outcome of property division will have an impact on both parties for many years to come. What many spouses fail to realize, however, is that there are a number of "hidden" expenses that come with various property division choices. Avoiding those costs can make a world of difference in the bottom line.

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