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Financial aspects to consider before a Massachusetts divorce

Whether it is because couples had a stressful holiday season, or simply because people view the New Year as a chance to start fresh, January is the most common month to file for divorce. In fact, experts report a spike of up to 30% in the number of couples filing for divorce at the beginning of every year. Whatever the reason, there are a few things Massachusetts couples considering divorce may want to keep in mind to help the process go more smoothly.

One common mistake people tend to make is filing out of anger. An emotional decision made in the heat of the moment can be detrimental, especially financially. A divorce can be one of the weightiest financial decisions an individual faces in his or her lifetime, so it can be important to approach the situation as rationally as possibly. Otherwise, the results can be devastating for one or both parties' finances.

Once individuals have filed, instead of rushing to separate, they may want to consider taking some time to prepare. Residents of Massachusetts have 90 days after filing for divorce before they have to serve the papers. This can be time to do things like locate financial records. It can also mean the opportunity to decide on the best time to broach the subject with the spouse so that important dates like holidays, graduations or children's birthdays can be avoided.

When a resident of Massachusetts has decided he or she is ready to end a marriage, it might be tempting to rush forward full steam ahead. However, a bit of careful planning and preparation may make all the difference between a divorce that proceeds as smoothly as possible and one that drags on for months and is financially devastating. A lawyer with experience in divorce cases can offer insight into how best to move forward with the legal aspects of separation.

Source: marketwatch.com, "Divorce lawyers: 30% more couples terminate their marriage after the holidays", Quentin Fottrell, Jan. 4, 2017

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