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Know the facts about divorce before making a decision

No one really wants to endure the emotional pain and stress involved in ending a marriage, not to mention the financial strain. However, for some couples, divorce is the best option. Even people who know this for a fact may put off making the first move because they are influenced by some of the common myths about divorce. Here are the facts around some of the common misconceptions about separation and divorce.

Compensation structure matters during divorce negotiations

Many Massachusetts couples who have made the decision to end their legal union face some time ahead, sometimes months or even years, negotiating asset division. When it comes time to decide on a fair and equitable division of salary in a divorce situation, those people whose earnings are structured as straight salary often find this process fairly straightforward. However, people whose salary is structured differently -- for example, including commissions, bonuses and/or perks -- may find this stage of the negotiation a bit more challenging. Divorcing people who know how each type of income is treated and understand the significance of strategically timing the divorce filing will likely fair better financially in the end.

Protecting independent assets in the event of divorce

Many Massachusetts couples likely maintain separate bank accounts with the assumption that in the event their marriage ends, each person can walk away with his or her own money. According to researchers, the percentage of married couples opting to keep their finances separate has more than doubled in recent years. However, experts warn that married people who assume that this practice will protect their assets in the event of divorce may encounter an unwelcome surprise if they actually find themselves in the position of dissolving their union.

Pay careful attention to credit during a divorce

Married people who have decided to go their separate ways often experience some distress during the ensuing legal process over the loss of control of many aspects of their life. Typically, people going through a divorce must negotiate living arrangements, child custody and visitation schedules, financial obligations and, in some cases, much more. However, divorcing Massachusetts couples can take specific action in some areas of their lives to increase the chances of a positive outcome, and one of these areas is credit and how it is affected during and following the divorce.

Spousal support negotiations during divorce can be challenging

Any Massachusetts couple in the midst of legally ending their marriage would likely agree that all aspects of the process are unpleasant, at best. However, for many divorcing couples, spousal support (also called alimony) tends to be one of the more challenging steps in the divorce process. Therefore, to assist divorcing individuals in successfully negotiating this type of support, industry experts offer some tips.

Job loss during the divorce process can add an extra challenge

From the beginning of the separation process to the final dissolution of a marriage, both parts of a couple, typically, will experience a great deal of stress. Most Massachusetts couples in this situation face many difficult decisions as well as a general upheaval of their accustomed lifestyle. Unfortunately, sometimes, while a person is going through the divorce process, he or she encounters additional challenges, such as a job loss. Other than the obvious fallout from employment loss, people finding themselves in this situation during divorce negotiations may worry about how the courts will handle the change in financial circumstances.

Life and health insurance needs should be reviewed during divorce

Probably any divorcing Massachusetts couple will attest to the fact that once the decision to split has been made, everyone involved begins a process that is often lengthy, stressful and fraught with challenges. During this difficult period, with all the issues that must be considered, people sometimes overlook important areas that will change with the divorce, such as insurance coverage. Divorcing individuals should be sure to review all insurance policies and prepare for any changes that will happen with the change in their marital status.

How do courts determine child and spousal support obligations?

Couples who have decided to end their marriage face various important decisions in the upcoming months, depending on their life circumstances. However, for many people, child support and/or spousal support negotiations demand a significant portion of time during the divorce process. Laws regarding how courts determine each person's level of obligation vary from state to state, but divorcing Massachusetts individuals can benefit from knowing the following general guidelines.

Emotional turmoil can be tricky during divorce

For many, having to end a marriage brings their dreams crashing down. It is not unusual for one party to want a divorce more than the other, and as a result, it is also not uncommon for at least one person to feel some emotional turmoil. However, letting these emotions play an important part in decision-making during legal proceedings is not wise.

Being informed about spousal support can reduce stress in divorce

In the event of divorce, each party must make important decisions in various aspects of their lives: living arrangements, financial support, children, etc. Typically, if spousal support is to be determined, the divorcing couple will discuss it later in the proceedings, as the plan for division of property and other assets should be in place first. Massachusetts divorcing couples would be wise to know some points about spousal support, including how it is calculated and what can be done if the payor fails to follow through or either party's circumstances change.

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