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.
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.
When spouses in Massachusetts are pursuing a divorce, there are precautions they can take in order to keep the process as simple as possible. The effects of the end of a marriage can continue on long after the divorce decree is finalized, especially when it comes to financial matters. Due to this, there are some major issues spouses should avoid during the process.
Two studies indicate that Facebook and social media may be causing relationship problems and breakups. A survey of 2,000 married people in the United Kingdom found that one in seven respondents had thought about divorcing their spouse as a result of social media activity, which includes sites like Twitter, Skype and SnapChat in addition to Facebook. About 25 percent of those who took the survey said they had at least one argument a week about social media, and 17 percent said it the cause of a daily argument.
Massachusetts residents with an interest in family law issues may wish to learn some information about what domestic violence is and what effect it can have. Due to the seriousness of these matters, this information may help spouses and partners to recognize the issue before it goes too far.
Conflicts about parenting plans, child or spousal support and property division are common in Massachusetts divorces. You may be among those who are planning on how you will deal will these issues. While you can bring these issues to a judge, you may be considering a method of alternative dispute resolution known as mediation.
Massachusetts couples might want to read about a new study looking into the relationship between divorce rates and illness. Researchers at Purdue University and Iowa State University determined that the chance of a marriage ending in divorce goes up by 6 percent after the wife becomes seriously ill. A husband's serious illness was not found to increase the likelihood of divorce, however.
Individuals in Massachusetts may be aware that business owners who are divorcing may need to think about how that business will be considered an asset during property division, but many people might not realize that the same is true for artists. Painters, sculptors, filmmakers and others who create works of art often must work out how those pieces are shared with a soon-to-be former spouse.
Property division, financial support and child custody are all common issues that arise during Massachusetts divorce proceedings. However, pet custody and visitation is quickly becoming a frequent issue as well. According to The Humane Society of the United States, there are more than 179 million dogs and cats living in American homes as pets. Many pet owners have formed strong bonds with these pets and view them as another member of the family. That can cause intense disputes during divorce.
Going through a divorce means that you have to make some decisions about alimony, the division of your marital assets and other related issues. In some cases the two of you will be able to agree on these matters, but if not, the court will make those determinations. One thing that you might not consider is how these decisions may affect your taxes. There are consequences for each financial transaction that you make, so it is essential to understand how your taxes could be affected.