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Wellesley Hills Massachusetts Divorce Blog

How is inheritance money divided in a divorce?

The financial aspects of a divorce can be complicated, especially when an inheritance is involved. Will your spouse have a legal right to your inheritance? What if you inherited the money before or after your marriage? Unfortunately, these questions will depend on a variety of factors. 

Will you be able to keep your full pension after divorce?

Have you worked a significant part of your life accumulating a pension? Your pension has most likely been a source of personal pride for the work you have done. This may be due to the very nature of the work you did. Pensions often come from challenging and often risky jobs, such as firefighters, military personal, police officers or teachers. Due to the nature of work in these professions, pensions may feel like a deserved bonus for the stressful work you accomplished while on the job. But when it comes to divorce, what you earned with that pension while married is shared property.

How to financially prepare for a divorce

Divorce is an expensive process, from the costs of hiring attorneys to splitting up assets. Single living tends to costs more, and recently single people are used to sharing expenses such as child care and daily costs of living.

In modern day, it is not unusual for a female to be the money-maker in a relationship. Because of this, financial planning for divorce is not just for women.

Reasons for increasing rates of gray divorce

After years together going about each other’s daily routine, retirement can end up being a stressor in many marriages. Divorce for couples over 50 has been coined “gray divorce.” With children grown and living away from home, combined with either or both partners retired and home all the time, irritation can reach peak levels.

Who receives your family home in a Massachusetts divorce?

Perhaps you and your spouse choose to separate and divorce. Along with other property you have acquired during your marriage, you wonder who will keep the home that you and your spouse (and perhaps children) live in.

Massachusetts courts consider 17 different factors in determining how to divide property. The Judge will divide property equitably, versus equally.  The Court will consider the length of your marriage, your ages, employability of each of you and conduct, among other factors to be considered.  Sometimes the Court will consider what year your children are in school in deciding when the home will be divided, sold or perhaps one spouse will buy-out the other's interest.  

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