Dividing a 401(k) for a divorce settlement is less painful when you know about the plan and take the right steps that ensure both people are satisfied. A 401(k) plan is marital property, just like other possessions that need to be divided. Here are nine ways you can handle assets in the plan during a…
divorce mass
Managing High Asset Divorces in Massachusetts
All divorces can be stressful and important to spouses facing a divorce. However, handling divorces with a high asset value has some additional inherent complexities that not all spouses, or even all attorneys, are aware of. When addressing high asset divorces, there are complicated issues that have to be addressed within alimony, property division, taxes,…
How to Protect Your Company From Your Business Partner’s Divorce
Before you formed your business partnership, did you vet your partners’ marriages along with their bank statements? You may not consider it until divorce proceedings are underway, but your partners’ spouses likely own a part of your company, whether you want them to or not. In my day job as a financial strategist specializing in…
Dependency Tax Exemptions and Divorce
During the course of a divorce, there are many issues that spouses have to resolve: property division, alimony, child custody, child support, medical insurance, and taxes. One after thought of these many issues is the child dependency tax exemption. In a divorce, spouses can agree how to allocate the dependency tax exemption. For example, if…
How to Get a Mortgage After a Divorce
Divorcing spouses face unique obstacles when they try to buy a new home. Even if you can afford it, trying to buy a new home before a divorce is finalized can mean a red flag for lenders. In a divorce, it’s bad enough that you’re losing someone you once loved or may still love. It’s…
Protecting Your Credit in a Divorce
It is not uncommon for married couples to have joint accounts, including joint credit cards. However, once married couples are involved in a divorce, they must decide how to apportion the credit card debt. At that time, each spouse should be looking to protect their credit as much as possible. In Massachusetts, each spouse’s credit…
FAQ’s About Massachusetts Divorce Law
With the national divorce rate close to 50%, many spouses have questions about divorce and the legal process of divorce. Divorce laws from state to state. Here is a summary of Massachusetts divorce law and frequently asked questions about this topic. Q: Is there a legal separation in Massachusetts? A: There is no formal “legal…
FINDING A GOOD DIVORCE LAWYER
Millions of men and women go through divorce proceedings every year and yet many give little thought to finding a lawyer that will best meet their needs. While a good lawyer will lead you through the divorce quagmire and hopefully get you the best possible results, the wrong lawyer can create more problems and add…
Massachusetts Alimony Reform Act & Durational Limits
When the Massachusetts Alimony Reform Act went into effect in 2012, it provided for a payor spouse to file a Complaint for Modification to reduce or terminate his or her alimony obligation based upon durational limits, as further explained below. Rather than allowing spouses to file all at once in 2012, modification for only durational…
Postnuptial Agreements
Dear Clients and Friends, Properly executed pre-nuptial agreements have been enforceable for sometime in the state of Massachusetts. These agreements are entered into between the couple before they are married to protect assets each party had at the time of marriage. Here are Amaral & Associates, P.C., we prepare pre-nuptial agreements on a regular basis…
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