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Wellesley Family Law Blog

Can our marriage survive my spouse’s financial secrets?

Have you noticed money missing from your joint savings account? Have you found expensive purchases hidden around your home? Missing money and hidden purchases are just a couple signs that could indicate your spouse may be keeping financial secrets.

Keeping financial secrets appears to be a growing trend, which could be contributing to the rise in divorce rates around the country. If your spouse is one of roughly 40% of Americans committing financial infidelity, it may be helpful to know your options.

Divorce negotiations: Saying it’s yours doesn’t make it so

The following subject matter focused on divorce-linked asset distribution reasonably enough applies to every impending-ex demographic.

That cuts a wide swath, of course. Many younger couples in Massachusetts and elsewhere (we’ll just quickly pop in those oft-cited Millennial and Gen-X references here) cut marital ties in relatively quick fashion after voicing “I do” vows. And the baby boomer crowd has been notably spotlighted in recent years for a divorce propensity that materially exceeds all other age groups.

What happens to your retirement fund during divorce?

Carefully planning and saving for your retirement takes a lot of work. If you and your spouse put money away in savings accounts, 401k accounts and/or IRAs, you probably have a substantial amount saved for the next chapter of your life.

However, if you and your spouse decide to split up before or during your retirement, what happens to the money you put away?

Are baby boomers more likely to divorce than millennials?

Baby boomers have contributed a lot to society, but unfortunately an increasing divorce rate is one of their more recent contributions.

Studies indicate that the baby boomer generation, people born between 1946 and 1964, has the highest divorce rate in American history. They are also the only generation that has an increasing divorce rate as they age.

What to expect from an alimony agreement

Divorce agreements can be complex. Tying off loose ends at the end of a marriage leaves much for both parties to resolve before going their separate ways. Spousal support, commonly known as alimony, is among those issues.

Massachusetts is a limited duration alimony state. That means the recipient receives support payments for a duration that is based on the length of your marriage. Those who were married longer make alimony payments longer than those married for a shorter time. Here is the breakdown:

How same-sex divorce is different from heterosexual divorces

Ever since the Supreme Court ruled in 2015 that a commitment of love between two people can be equal through the recognition of same-sex marriage, there has been much celebration and relief among many. However, there is another side to marriage that is not so easily cheered, that same-sex couples can divorce as well.

The problem that many same sex-couples are running into is that with all this new equality being provided them, it may not be so equal when it comes to divorce.

Surprising facts you may not know about gray divorce

It can be difficult for people to understand why a married couple who has been married for 20, 30 or even 40 years has chosen to divorce. One reason it can be hard to comprehend this decision is because it was once a relatively rare occurrence for older Americans to make. However, the flood gates of gray divorce have been knocked down in recent years. Since 1990, the divorce rate for couples over 50 have doubled.

Many people assume that gray divorce is spurred on by one person in the marriage who is going through a mid-life crisis. It can also be assumed that the decision to divorce has been a long-held desire that can finally come to fruition in later life. However, even though these scenarios can play a part in gray divorce, they are not the only reason why older Americans choose to divorce. Here are some potentially surprising facts you should know about gray divorce.

Tips to help make your shared parenting plan work

One of the most complicated and difficult aspects of working through a divorce is completing a satisfactory parenting plan. The divorce may already be hard on the children and you will undoubtedly want to make the custody arrangement be as seamless as it can be. Working with your attorney will be crucial during the planning of your custody agreement to make sure everything is compliant, but there are things you can also keep in mind. 

Preparing your finances for post-divorce life

Going through a divorce is stressful, but you might be even more worried about what your life will be like after your divorce is over. From thinking about your finances, to navigating your social life, divorce will certainly have an impact on many parts of your life. Living without your spouse will be different, but it does not have to be difficult.

Figuring out your financial situation might be the most complicated part of your post-divorce life, but there are steps you can take ahead of time to make it easier for you in the long run.

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