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.
Some Massachusetts residents who jointly own marital property may wonder what will happen if one spouse leaves and decides to buy another property. There may be problems associated with lenders who still view the property as jointly owned, even though the divorce decree gives it to the other spouse.
Massachusetts residents are likely familiar with the statistic often cited by the media that 50 percent of marriages end in divorce. While that may have been true in the 1970s and 1980s, figures show that the divorce rate has been falling steadily for several years. Observers say that if current trends continue, the divorce rate will fall to about a third in the near future.
Making the decision to divorce is never easy. Sharing this news with your spouse can be even more difficult. There are steps that can be taken to help ease the process.
The property division determination of the divorce involves more than just bank accounts and real property. Couples going through a split also need to divide debt.
A divorce attorney knows that prenuptial agreements can serve as a safeguard against property division disputes, in the event a couple divorces. Under Massachusetts state law, these written contracts allow the parties to make lawful limitations on the equitable division of property that would otherwise apply during a divorce.
Does a high-asset divorce require more time and court involvement? If a couple failed to execute a prenuptial agreement, the answer might be yes.
Given the recent media attention regarding collaborative divorce, readers may have some questions about how this process differs from more traditional approaches.