Divorce affects millions of couples across the country every year. Unfortunately, this is something from which many residing in Massachusetts are not immune. However, according to a recent report, the divorce rate in the state is one of the lowest in the country.
While there is some debate over this number, it is believed by some that 50 percent of marriages end in divorce. This percentage only seems to increase for those who have been married more than once. It has been reported that about 67 percent of second marriages and over 70 percent of third marriages will end in divorce.
No one plans on getting a divorce, but sometimes it is simply the best option — which is okay. Ending a marriage is more than walking away from one’s spouse, though. It is a financial transaction which, if not negotiated sufficiently, can have significant monetary consequences for one or both parties. Before negotiating the division of assets, it is important for both sides to have a complete list of family accounts, property, income and expenses. All of this information will be beneficial in ensuring everything is accounted for and divided fairly.
While the divorce rate in Massachusetts may be lower than the national average, there are plenty of families in the state that are affected by this who will need assistance in finalizing dissolution agreements that serve their best interests. Help is available to not only negotiate financial terms, but other matters like child custody and visitation schedules. While the divorce process in its entirety can be emotionally challenging, it is possible to get through it successfully and move forward.
Source: CBS Boston, “Understanding Divorce“, Dee Lee, Aug. 17, 2015