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Posts Tagged Middlesex County

Financial Planning For and During a Divorce

financial planning divorce

A divorce brings about many changes in a person’s life. One of the most significant changes is the financial impact of a divorce. Spouses go from having a combined household with (usually) two separate incomes, to living apart, and supporting themselves on their own. If you are contemplating a divorce, or have already filed for divorce, there are different actions you can take to plan for your own financial future after a divorce.

 

Create a Budget:

Review your household expenses to see what your weekly/monthly expenses come out to. In addition to including the usual expenses (i.e. mortgage/rent, utilities, heat, cable TV, telephone, groceries, clothing, etc.), don’t forget to include other typical expenses, such as uninsured medical expenses, motor vehicle expenses, child care, vacation and entertainment, education costs for yourself and your children.

Once you have your budget, look at what your income is, and what it is likely to be at the end of the divorce. Don’t forget to factor in any alimony and/or child support that you may be paying or receiving.

Based upon … Read More »



How to Ask Your Fiancé for a Prenuptial Agreement

Prenuptial Agreement

Congratulations! You’re engaged. You’re on your way to walking down the aisle on the happiest day of your life. There’s a lot to do to plan for the wedding. Find a location, book a caterer, find a dress, pick out a cake, and oh so much more. But there’s one more thing engaged couples should think of, and that is a prenuptial agreement.

 

Although the idea of asking your fiancé for a prenuptial agreement can feel like it is killing the romance and the flutter of preparing for your wedding day, it is a wise thing to consider, to protect each other for after you say “I do.” With divorce rates hovering around 60%, a prenuptial agreement is a tool to protect yourself in the even that “I do” turns into “I don’t.”

 

But how should you approach this topic with your fiancé?

 

First, start discussing the idea of a prenuptial agreement shortly after you get engaged. This way, you have the opportunity to discuss this in detail, and have time to negotiate, before you get married. … Read More »



‘Happy Valentine’s Day. I Want a Divorce.’

Valentine’s Day is approaching — and it turns out the weeks leading up to this most romantic of holidays also mark the highpoint of “divorce season.”

While there’s no national database tracking divorce filings, anecdotally, attorneys report that January and February tend to be the busiest months of the year in terms of divorce inquiries.

Why? In large part it’s a holiday hangover. A recent poll by my divorce mediation company, showed that one in 12 people (and one in eight women!) are considering divorce during the holidays. And as soon as the holidays are over, many make it their New Year’s resolution to begin again and start divorce proceedings.

I’ve worked in family law for 12 years and without fail, my phone starts ringing off the hook on January 2nd. Most start by asking for the lay of the land — they want to know their options.

Unfortunately, most people still think of divorce as the 1980s War of the Roses scenario, where each party hires the meanest pitbull of a lawyer they can find, spends thousands of dollars on legal fees and … Read More »



Rehabilitative, Transitional, and Reimbursement  Alimony in Massachusetts

Q: What are Reimbursement Alimony, Rehabilitative Alimony, and Transitional Alimony?

A: There are 4 types of alimony under Massachusetts law. The four types are:

General Term Alimony Rehabilitative Alimony Reimbursement Alimony Transitional Alimony Rehabilitative Alimony Q: What is Rehabilitative Alimony?

A: By the statute’s definition, Rehabilitative Alimony for a recipient spouse who is expected to become economically self-sufficient by a predicted time, such as, without limitation, reemployment; completion of job training; or receipt of a sum due from the payor spouse under a judgment.

Q: When is a spouse eligible to receive Rehabilitative Alimony?

A: Rehabilitative Alimony is available to all spouses, regardless of how long they have been married.

Q: When Does Rehabilitative Alimony End?

A: Rehabilitative Alimony ends upon the first of the following to occur:

upon the remarriage of the recipient spouse, the occurrence of a specific event in the future that is outlined in the court order the death of either spouse; After 5 years. Q: Can Rehabilitative Alimony last longer than 5 years?

A: Yes, a spouse can file a complaint for modification upon a showing of compelling circumstances in the event that:

unforeseen events prevent the recipient spouse from being self-supporting at the end … Read More »



The Benefits of Mediating or Arbitrating Your Family Law Case

The Benefits of Mediating or Arbitrating Your Family Law CaseIn Massachusetts, divorce and Family Law cases are handled by the Probate and Family Court. Under Massachusetts, law, proceedings in the Probate and Family Court are public and can be observed by anyone. Additionally, almost all cases in the Probate and Family Court are scheduled to be heard at 8:30 a.m. (which can be as many as 75-100 cases scheduled to be heard that day), and then the judge calls all cases in whatever order he/she deems fit. This means, if your case is heard first, there can be over 100 people in the courtroom to listen to the issues pending in your case.

Additionally, the Probate and Family Court is notoriously backlogged. Thus, it can take a few months before a motion on your case is heard, and a few years before your case goes to trial.

Given the very sensitive nature of divorce and Family Law proceedings, many spouses and parents do not want their family issues presented and argued in … Read More »



Prenuptial Agreements in Massachusetts

What is a Prenuptial Agreement? Do you need one? Contact Amaral & Associates for the answers you need regarding Prenuptial Agreements in Massachusetts.Q: What is a Prenuptial Agreement?

A: A Prenuptial Agreement is a contract between an engaged couple who is planning to marry, in which the contract, divides all (or some) of each individual’s property in the event of divorce and/or death. It can also determine whether any alimony will be paid in the event of a separation or divorce.

Q: Who needs a Prenuptial Agreement?

A: Anyone who is getting married and you have any assets that he/she wants to protect, even if it is just one asset, needs a Prenuptial Agreement.

Q: What are some common terms included in a Prenuptial Agreement?

A: A Prenuptial Agreement can be drafted:

To protect a substantial inheritance or an interest in a trust; To protect an interest in a business; To provide for children from a previous … Read More »



General Term Alimony: What is It?

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Q: What is General Term Alimony?

A: There are 4 types of alimony under Massachusetts law. The four types are:

General Term Alimony: the periodic payment of support to a recipient spouse who is economically dependent. Rehabilitative alimony: the periodic payment of support to a recipient spouse who is expected to become economically self-sufficient by a predicted time, such as, without limitation, reemployment; completion of job training; or receipt of a sum due from the payor spouse under a judgment. Reimbursement alimony: the periodic or one-time payment of support to a recipient spouse after a marriage of not more than 5 years to compensate the recipient spouse for economic or noneconomic contribution to the financial resources of the payor spouse, such as enabling the payor spouse to complete an education or job training. Transitional alimony: the periodic or one-time payment of support to a recipient spouse after a marriage of not more than 5 years to transition the recipient spouse to an adjusted lifestyle or location as a result of the divorce.

 

General Term Alimony is the most … Read More »



Rehabilitative, Transitional, and Reimbursement  Alimony in Massachusetts

Rehabilitative, Transitional, and Reimbursement Alimony in MassachusettsQ: What are Reimbursement Alimony, Rehabilitative Alimony, and Transitional Alimony?

A: There are 4 types of alimony under Massachusetts law. The four types are:

General Term Alimony Rehabilitative Alimony Reimbursement Alimony Transitional Alimony Rehabilitative Alimony Q: What is Rehabilitative Alimony?

A: By the statute’s definition, Rehabilitative Alimony for a recipient spouse who is expected to become economically self-sufficient by a predicted time, such as, without limitation, reemployment; completion of job training; or receipt of a sum due from the payor spouse under a judgment.

Q: When is a spouse eligible to receive Rehabilitative Alimony?

A: Rehabilitative Alimony is available to all spouses, regardless of how long they have been married.

Q: When Does Rehabilitative Alimony End?

A: Rehabilitative Alimony ends upon the first of the following to occur:

upon the remarriage of the recipient spouse, the occurrence of a specific event in the future that is outlined in the court order the death of either spouse; After 5 years. Q: Can Rehabilitative Alimony last longer than … Read More »



FAQ About Alimony in Massachusetts

Q: Will I have to pay alimony to my spouse? / Q: Will I receive alimony from my spouse?

FAQ About Alimony in MassachusettsA: The short answer is it depends. Based upon the Alimony Reform Act of 2011, there are many factors that have to be considered to determine if a spouse will have to pay alimony during or after a divorce.

Q: What are some of the factors that are considered to determine if I will pay/receive alimony?

A: Every case is different in what is considered whether a spouse will pay/receive alimony, but generally, there are some of the factors that are considered:

Do you have any unemancipated children? What is the combined gross income for you and your spouse? the length of the marriage; age of the parties; health of the parties; income, employment and employability of both parties, including employability through reasonable diligence and additional training, if necessary; economic and non-economic contribution of both parties to the marriage; marital lifestyle; ability of each party to maintain the marital lifestyle; lost economic opportunity … Read More »



Who gets the house in a divorce?

Who gets the marital home in a divorce?Q: I’m getting a divorce. Who gets the house when the divorce is finalized?

A: The short answer is, it depends. There are many factors that must be considered in determining who gets to keep the marital home during a divorce.

Q: What factors are considered in determining who gets the marital home in a divorce?

A: One of the biggest factors is finances. If either or both spouses want to keep the marital home, the court will consider whether he/she can afford the operating costs of the marital home. Also, the court will consider whether the spouse who wishes to retain the marital home can afford to buy out the other spouse based upon the remaining equity in the marital home.

Q: How does a spouse buyout the other spouse’s equity in the marital home?

A: This can be done in a few ways. First, the spouse who retains the marital home can take out a mortgage, or refinance the existing mortgage and … Read More »



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