When ending a marriage, it is easy to spend your time wondering how you got to this point. It is easy to spend your time trying to determine fault or assign blame. It is even normal to do so. When going through the divorce process, though, it's best for you and other Massachusetts residents in this same position to focus on the divorce, not necessarily what caused it.
Few couples in Massachusetts and elsewhere can make it through the marital dissolution process without fighting. Divorce can get particularly nasty when a lot of money and assets are involved. A good example of this is the recent divorce between a member of the Dixie Chicks and her actor husband.
Most couples with a high net worth in the state of Massachusetts did not get where they are by letting their money sit in low-yield savings accounts; they invest. What happens to these investments, though, when a couple chooses to end their marriage? Who gets to keep what when the divorce is final?
Often, when a Massachusetts marriage comes to an end, at least one party within it wants to secure alimony payments from the other to help him or her get by in the absence of the former partner. If you are among those planning to pursue alimony from your former partner, you may have questions about what factors undergo consideration when making alimony determinations and how much you can expect to receive in your payments if awarded alimony.
In Massachusetts, residents like you who are divorcing your spouse will need to handle splitting your assets, too. The more assets you have, the more complex the potential legal issues related to them may become. We at Kajko, Weisman & Colasanti, LLP, are here to help you work through these possible hurdles.
You may have been unhappy in your marriage for a long time, but it can be difficult to think about telling your spouse you want a divorce. You may be afraid of his or her potential reaction, or you could still care for your spouse and not want to hurt him or her. Breaking the news can be one of the most difficult things Massachusetts residents face.
Massachusetts couples who plan on divorcing will certainly be facing hurdles along the way. However, as someone who is involved in a high asset divorce, you will face unique hurdles that others with a smaller net worth will not necessarily have to deal with.
When your Massachusetts marriage ends, your life will change in countless ways, and while some of those changes will likely involve adjusting to new living or custody arrangements, others involve tax-related considerations. At Kajko, Wiseman & Colasanti, LLP, we are well-versed in the significant tax law changes that will impact you and others who divorce this year or moving forward, and we have helped many people navigate this and other hurdles that arise amid divorce.
As you enter into your divorce proceedings in Lexington, one asset that you will want to prepare for when dealing with property division is your 401k. Many often ask us here at Kajko, Weisman & Colasanti, LLP why their 401k's are considered marital assets when such account are funded through their individual employment efforts. We remind them that the income they earn from their jobs during their marriage is considered a marital asset, and given that a 401k is funded largely by one's income, it too falls under the same category. This brings us to the next important topic: how is it too be divided?
Long gone are the days when getting a divorce is an unusual thing for couples in Massachusetts but simply the act of getting divorced is not the only thing that has changed over the past several decades. Even the face of divorce itself looks different today than it once did.