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 and finance
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…
Do I Have To Give My Spouse Part Of My Business In Our Divorce?
When spouses are going through a divorce, one thing that always must be addressed is property division. However, when one or both spouses own a business, or even have an interest in a business, property division can be much more complicated. A common question spouses ask is: Do I have to give my spouse part…
Does My Spouse Have an Interest in My Business When We Divorce?
In a divorce, money can be one of the biggest issues spouses fight over. However, when one (or both) spouses own a business, this can be an even more complicated (and sometimes uglier) fight. A common question business owners ask when they are going through a divorce is whether their spouse has an interest in…
FAQ’s About Divorce in Massachusetts
Here are some common FAQ’s About Divorce in Massachusetts: Q: Should I file first for divorce? A: The answer to this question is largely a case-specific answer. The determination of value of assets, which goes to the equitable division of marital assets pursuant to M.G.L. c. 208 §34, is determined from the date of marriage…
Financial Disclosure in a Divorce
When spouses are going through a divorce, a common concern is that their husband/wife will not fully disclose their assets. In Massachusetts, to protect against this issue, the Court issued Supplemental Probate Court Rule 410, in which both parties must exchange certain financial information within 45 days after the defendant was served the summons and…
Financial Planning For and During a 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…
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…
Child Support, Alimony & Taxes
When going through a divorce, there are many financial issues that spouses must address. Some of these financial issues have tax consequences, and other financial issues do not. One area where taxes come into play is support. Under Massachusetts Law, there are two categories of support. The first category is alimony, which is the periodic…
General Term Alimony: What is It?
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…
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