If you have been divorced – or you are involved in a divorce now – you know that there are countless decisions to be made. This is a time of change, and you must make choices that could affect you both now and in the future. Clearly, important considerations include who will get the marital home, who will have primary custody of the children, whether spousal support/alimony is appropriate and how marital assets and debts will be divided. An often over-looked but increasingly relevant issue in a divorce is the custody of the family pet.
Since the potential for stress is already very high when going through a divorce, why add to it?
Readers that know someone or have gone through a divorce themselves know that couples may sometimes be better off going their own ways when a marriage is no longer working. To some extent, lawmakers may also share that opinion, as no-fault divorce is now available in all 50 states.
There can be many reasons why a couple might explore the option of divorce. For example, recent celebrity breakups have emphasized a more collaborative approach to separations, legal or simply emotional, viewing significant others as teachers on one’s life journey.
In a divorce, a spouse may need to advocate strongly for his or her position on matters of spousal support, asset valuations and property division. If children are involved, additional discussion will be required about child custody and visitation arrangements.
Conventional wisdom may advise against mixing love and money, but the reality is that some married couples might become business partners. In fact, Census Bureau data indicates that 3.7 million small businesses are co-owned by married couples. So what happens to a business if a couple decides to divorce?
Gwyneth Paltrow appears to the most recent poster child for a new movement in amicable divorce. In a recent blog entry on her lifestyle website, Goop, Ms. Paltrow confirmed that she is separating from Chris Martin, of Coldplay musical fame. However, she is committed to sparing the two kids she had with Martin from heartache. To do that, she describes her approach as a conscious coupling.
A person's life and career could cause their relationship to become public interest. This is very true for public figures in Massachusetts or celebrities across the nation who are dating, married or going through relationship problems. When a wealthy or celebrity couple seeks to dissolve their marriage, many wonder if alimony will be a part of the divorce settlement. The divorce process and disputes about alimony can create a complicated situation.
For many couples in Massachusetts, having a prenuptial agreement makes sense. It is clear that the rate of divorce in the nation is high and has been increasing. Drafting this instrument helps a couple through the divorce process, a process which has become more and more common.
The details of a marriage don't often come into play until the end is nearing. Divorcing Massachusetts couples often struggle with the difficult task of organizing their finances in order to reach a divorce agreement. A complex property division does not only occur when the couple owns much property and assets, but also when it is not clear what falls under the category of marital assets. Furthermore, determining how retirement assets and alimony will be treated can prolong the process. Considering equitable distribution, cost of future living, taxation and the need for financial support by one spouse often add to the complexities of dissolution.