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.
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.
It may surprise many Massachusetts residents that January is a popular month for couples to file for divorce. It seems to be popular because the holidays are over and most family obligations have been met. However, broaching the subject of divorce can be difficult or awkward. Couples who suspect that their divorce will be classified as a high asset divorce may have even more difficulty discussing it with their spouse.
A significant number of people living in Massachusetts going through a divorce eagerly await the day when it will all be over. The process often puts an unusual amount of stress, both financial and emotional, on the people involved. However, especially in a high asset divorce, one party may not be satisfied with the final outcome and pursue an appeal. An appeal could focus on spousal support and/or property division issues decided at the trial court level, among a myriad of other concerns. In some instances, these appeals can continue back and forth over long periods of time.
There are many things for couples across the nation, including Massachusetts, to consider when they decide to get a divorce. Among these things are the family finances. Often, there is one spouse who deals with the majority of the finances, but especially in a high asset divorce, both spouses can benefit from understanding what the family income is used for. By understanding how the family income is used, the people going through a divorce can begin to plan how their lifestyles will change after the divorce is final.
Massachusetts residents who have gone through a divorce or are currently going through a divorce know that emotions can often run high. Each spouse is attempting to gather all of the information necessary to ensure that the marital assets are divided fairly and that any private property is protected. Proceedings may be especially stressful for couples involved in a high asset divorce due to the sheer amount or great value of the assets in question. There are, however, some steps that couples can take that could make the process run a little more smoothly.
Couples in Massachusetts know that sorting out finances can be very difficult under normal circumstances. These difficulties can be made worse during a divorce, especially a high asset divorce. A lack of communication can make it difficult for couples to determine how to fairly divide their assets.
Millennial couples seem to be approaching marriage differently from those in past generations, especially when it comes to finances. Many Massachusetts millennials have careers, savings and investments before they consider marriage, and this often means keeping some aspects of their finances separate after they take their vows. However, separate does not have to mean secret, and some money experts fear that too many money secrets in a marriage may lead to high asset divorce.
Former US Representative Jesse Jackson, Jr., and his estranged wife have decided to end their marriage. The former representative filed the divorce action last year, but the couple had to complete a required mediation program before moving their divorce forward towards a trial. Among the issues discussed in the mediation, a report that may be of interest to those in Massachusetts, were alimony, property division and child-related matters.
Now that your marriage has reached its end, you have much at stake when it comes to dividing your property. You more than likely did not spend your time accumulating your wealth and property just to submit to the orders of a Massachusetts court in a high asset divorce. Fortunately, there is an alternative: mediation.