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Simple financial tips to consider during a Massachusetts divorce

In Massachusetts – or anywhere else, for that matter – the fact is that divorces cost money. However, when divorce becomes inevitable, there are certain methods anyone can employ to be more prepared and to weather the divorce process in a more financially sound manner. A few simple financial tips can make a big difference during the divorce process.

The most important aspects in any Massachusetts divorce

Divorcing couples in Massachusetts have a lot to consider. Even in a best-case scenario, divorce is an emotionally and financially stressful time. However, to help separating couples remember the most important aspects of divorce, one advisor has come up with an acronym that covers the main areas that will need addressed. This acronym, PEACE, stands for Parenting plan, Equitable distribution, Alimony, Contesting and Everything else.

Sound advice for Massachusetts couples considering divorce

For Massachusetts couples considering ending their marriage, the first step might be a trial separation. Physically separating gives each spouse the opportunity to to figure out whether divorce is the best decision for them. Whether couples are considering a trial separation or already have decided they are ready to end their marriage, there are a few pieces of advice that may prove beneficial.

Divorce rate among Baby Boomers on the rise

While young couples across the nation are divorcing less frequently, studies indicate that among couples aged 50 and older, the number of divorces is actually on the rise. In fact, since 1990, the divorce rate has nearly doubled in the generation referred to as Baby Boomers. For older divorcing Massachusetts couples, ending a marriage later in life may brings its own unique challenges and goals.

The varying costs of a divorce in Massachusetts

For many individuals in Massachusetts who are ready to end their marriages, money may not be the deciding factor. If a divorce is necessary or best, the financial implications might be daunting, but they will likely not dissuade those involved from their course of action. However, as costs add up, money worries can definitely become a concern throughout divorce proceedings and even in the aftermath, which is why there are options divorcing individuals may wish to consider that might help lower the overall costs.

Many common divorce beliefs are completely false

In Massachusetts and elsewhere, those who are getting a divorce or even just thinking about doing so have probably already starting hearing advice from a variety of sources. The problem is, though, that much of this advice is not only false, but even potentially dangerous. There are a number of common mistaken beliefs and even flat-out falsehoods surrounding divorce that many people truly think are fact.

Immediate considerations in a Massachusetts divorce

Divorce can be an emotionally tumultuous time. For Massachusetts couples facing divorce proceedings, it may feel as though everything is happening at once. Even just getting through the day can seem overwhelming. Here are a few tips to make the current transition easier and also help ensure that any decisions made today do not have negative long term effects.

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.

Considering a Massachusetts divorce? Legal consultation can help

Many Massachusetts individuals might be considering legal separation but have no idea where to start. Divorce can seem like such a complicated and overwhelming process that many people keep putting it off legally far after they've decided they're ready emotionally. If an individual feels that he or she is at the point in his or her marriage where divorce is looking like the best option, a consultation with a family law attorney might be the best way to proceed.

Retirement plan division in Massachusetts divorce can be tricky

When considering legal separation, most people are concerned with the emotional aspects. However, to avoid future complications after a divorce, residents of Massachusetts will want to consider the financial implications as well, especially those involving the division of retirement plan assets. If not executed properly, this process can cause financial issues and tax problems later on, far after the divorce proceedings have been finalized.

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