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Category Archives: Property Division
Everybody Wants Some! Social Security & Divorce in Massachusetts
Like most government assistance programs, Social Security is confusing, especially when it comes to the topic of divorce. In hopes of clearing up some of that confusion, here are some common questions and answers frequently asked by our Massachusetts divorce clients – with some classic 80s and 90s tunes thrown in for no particular reason. Remember that Social Security is a federal system, and is thus regulated by federal statutes. Your divorce agreement cannot alter the federal regulations. Q: I stayed home with the kids while my spouse was able to work and pay into Social Security for years. [...]
Massachusetts Divorce – Does Infidelity Really Matter?
The realization that your spouse was unfaithful during your marriage is upsetting, even life-altering to some. Reactions upon learning of a spouse’s affair vary, but include feelings of sadness, betrayal, shock, anger and an intense desire to listen to country music. Some couples are unable to overcome the damage caused by an affair, with divorce oftentimes the unfortunate result. Although infidelity is certainly problematic, it is usually a sign of other troubles in a relationship. If you are facing a Massachusetts divorce and marital infidelity is an issue, you are likely wondering… What effect does an affair have on my [...]
Prenuptial Agreements: Why a Prenup Might be Right for You. By Carolyn Blake Dibbert, Esq.
Prenuptial agreements are becoming more and more common for couples entering marriage. Here are a few candidate groups who are gravitating towards prenups most often.
Posted in Divorce, Post-divorce Issues, Property Division
Tagged Division of Assets, Divorce, Prenup, Prenuptial Agreements
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Valuation Issues Surrounding Professional Practices at Divorce, by Steve McDonough, Esq.
When a divorcing spouse owns a business, several factors must be examined as part of the distribution of the marital estate. The type of business entity in question will obviously play a major role in how the business asset will be valued. One type of business that provides special challenges to an appraiser and the attorneys on the case is a professional practice, such as a medical practice or law firm. A professional practice is considered by the court (at least here in Massachusetts) as subject to division as part of the marital estate during the divorce process. See Goldman [...]
Social Security and Divorce
I have received couple of questions on how divorce may affect social security benefits over the past week, so I thought a post on this topic might be helpful. First, a good point to remember is that social security is a federal system, and is thus controlled by federal regulations. Social Security benefits cannot be bargained like other assets or retirement accounts since the receipt of social security benefits, how they are paid, and to whom are all controlled by federal law. This is why you don’t see sections on social security benefits in divorce agreements. A divorced [...]
Retirement Plans – Defined Benefit vs. Defined Contribution
An important part of a divorce case is identifying and dividing up a couple’s marital property. Within the marital estate, retirement plans frequently are one of the most valuable asset classes. A qualified retirement plan is one that satisfies numerous requirements set forth by the IRS and ERISA, the Employee Retirement Income and Security Act of 1974. Qualified plans take advantage of a number of tax benefits. The two main categories of qualified plans are the defined contribution plan and the defined benefit plan.
Pretty in Pink – The Massachusetts Divorce Financial Statement
One of the most important documents filed as part of a Massachusetts divorce is the ever-popular court financial statement. The rules surrounding financial statements are governed by Supplemental Probate Court Rule 401, or as I like to call it, Supplemental Probate Court Rule 401. There are two versions of the form, a “short form” for those with income of $75k or less, and a (much) longer form for those with – you guessed it – income over $75k. The forms are filed with the court on a lovely shade of pink paper to make it easier for Judges and court [...]
