Massachusetts residents may be aware of the many financial issues surrounding a divorce. Stakes are even higher in high-asset divorce cases. Many Massachusetts residents surely have read or heard about the on-going tussle between billionaire Harold Hamm and his former spouse. Billions of dollars are at stake in this prominent divorce case. Readers may be aware that Hamm has already paid $1 billion in alimony to his former wife. However, now both spouses have made appeals for revision of the alimony order.
For same-sex couples in Massachusetts, one of their life goals was to have the ability to marry legally and have all the same rights under the law as male and female couples do. However, what many are finding is that the risk of getting married also carries with it the risk of divorce, if the union does not work out. While the excitement of being allowed to marry could be viewed as clouding the judgment of those who decide to take that step, that does not alter the issues that could arise when a same-sex divorce becomes inevitable.
Some Massachusetts couples may feel happy to say that they have been married for decades. When couples have been married for such significant amounts of time, they will likely begin making plans for their future as a couple. However, it is important to realize that even couples who are older are not exempt from potentially facing divorce. If they do find themselves in such a situation, some of those future plans could be greatly affected.
When going through a divorce, one of the main areas of concern is finances. Money issues can range from how an individual is going to be immediately affected to how their finances will look in the future. Luckily, there are steps that Massachusetts residents who are going through divorce can take to better secure their financial future.
Some Massachusetts residents may believe that their marriages will last a lifetime. Unfortunately for many, a lasting marriage is not always how it plays out. For others, the union may have lasted several decades, but is no longer working. When older individuals believe is it time to divorce, they can face a myriad of financial issues and other difficult concerns to navigate.
Though money problems can be a significant cause in a Massachusetts couple's decision to separate, ending a marriage does not necessarily mean that money issues will be resolved. In some cases, the costs associated with divorce can result in considerable financial issues. The amount that can accrue during proceedings differs greatly from couple to couple and from state to state, and therefore, an umbrella figure cannot be applied to the cost of divorce.
There are any reasons that people in Massachusetts seek to end their marriages in divorce. For those that are older, the reasons may include the loss of satisfaction with the union. This, one recent article says, is consistent with the history of members of the baby boomer generation who have seen increased divorce rates in recent decades.
A new study that may be of interest to readers in Massachusetts indicates that fewer couples are choosing to separate prior to divorce. However, of those that do decide to separate before seeking divorce, around 80 percent end up dissolving their marriage. Another 5 percent appear to try to reconcile, and the remaining 15 percent of couples remain married but separated.
Credit scores are an important part of life for many people in Massachusetts. Good credit scores allow you to obtain loans for a house or a car, and some employers are even starting to take credit scores into account when making hiring decisions. However, certain things can rattle a credit score. The obvious is not making payments on time, but what about getting a divorce?
Divorce is a complicated process. It can involve child custody, alimony, asset division and child support. However, there are steps a person can take to not only make it less complicated, but also to help make sure they are protected when it comes time to divide assets. Today we'll touch on how to protect your finances during your divorce.