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February 2016 Archives

How to get a more equitable financial split in divorce

People in Massachusetts who are getting a divorce may worsen their financial situation if they do not have a thorough understanding of the family finances. This includes knowing what loans have been taken out as well as having a record of debts, assets and income.

Tax issues for divorcing couples with children

Massachusetts residents who are going through a divorce may need to consider a number of issues regarding taxes, and one thing spouses with children need to think about is child support. According to data from the U.S. Census Bureau, $32.9 billion was owed for child support around the country in 2013, but only around 70 percent of that was received.

Examining divorce data across decades

Massachusetts couples who are over the age of 40 and who are divorcing are part of an overall trend that shows more older couples were divorcing in 2013 than in 1980 or 1960. On the other hand, fewer couples in their 20s were divorced or remarried in 2013 than compared to those decades. Just over 10 percent of 30-year-olds had ended a first marriage in 2013.

The impact of divorce on children

Although a divorce terminates a Massachusetts marriage, the connection between the parents and their children continues after the order has been entered. However, the emotions of the process often carry over into parenting, creating a wide range of consequences for children whose parents carry on their antagonism in their presence. In fact, the antagonism may make the children feel that they are the reason for the divorce.

Financial issues to be aware of during a divorce

When a Massachusetts couple goes through a divorce, one of the biggest changes they face will be the state of their finances. How each party fares after ending their marriage often depends on how they handle things during a divorce, and at the outset they need to be aware of their individual and joint assets and debts. It is also important for people to make choices based on logic instead of feelings during negotiations.

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