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.
Divorce can be an incredibly stressful process for both spouses and their families, as many Massachusetts residents know. Some people may try to rush through the property division portion of the divorce in hopes of ending the entire process as soon as possible, especially if the former spouses are at odds with one another. However, how property and finances are divided after a divorce can have long-term effects on a person's credit score.
Ending a marriage can be a long and difficult process. Many families in Massachusetts struggle with property division. Deciding how to divide up large assets, like a house, can cause friction between separating couples, and it can sometimes put extra stress on any children that the couple may have.
Communication between couples going through a divorce can be strained and sometimes awkward. Because of this, people will sometimes try to rush through discussions about how to divide assets in order to move the process along. Attorneys in Massachusetts can help clients to understand how assets are best divided and why some methods of property division look better on paper than in practice.
Couples in Massachusetts that are seeking a divorce may be surprised to find that even with a prenuptial agreement issues may still arise. Properties and assets acquired during a marriage could potentially cause friction upon separation due to each person's perceived values. These disagreements over property division can cause the individuals seeking divorce to get caught up in legal battles that could possibly go on for months.
Couples seeking divorce often have varied priorities. For some, simply gaining freedom from an unhappy life is the goal. Others, however, want nothing more than to get even with their spouse, and still others fear only for their financial security. A spouse who wants out of a painful marriage may give little thought to what happens to the marital assets, but most couples are keenly aware that fair property division can mean the difference between an optimistic future and years of struggle.
The end of a Massachusetts marriage requires a lot of decisions. These can relate to all parts of the marriage, and often include property division and child custody (for couples who are parents of minor-aged children). In determining whether to award alimony, or spousal maintenance, a court will take into consideration the length of a marriage, the income of the parties and other factors.
When it comes to Massachusetts couples who are engaged to be married, sharing information can play an important role. Some say what you don't know can't hurt you, but that may be best limited to past romances and not finances. Certain money-related discussions may ultimately lead to the protection of both parties in property division in the event of a subsequent divorce. This does not mean a divorce must be anticipated, but it is one of life's realities for many people.
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.
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.