How to Divide Your Assets During a Massachusetts Divorce

by | Feb 2, 2022 | Divorce |

Splitting with your Massachusetts spouse can be an emotional time. You are separating yourself from your spouse, after all, and are inevitably going to have to divide up the assets they built together over the years. It can be a stressful time, but it doesn’t have to be as bad as you think! Check out these tips for splitting your assets between you and your former spouse.

1) Put aside the sentimental items first

This includes anything that has special meaning or memories attached to them, like photographs or old wedding videos. These should be set aside first so that there is room for everything else.

2) Hire a lawyer

Some people may try to handle things on their own without professional help, but this will only result in more problems down the road. You need to work with divorce lawyers in your area who can help you divide up your assets properly and ensure that everything is in its right place. If you don’t have the money for a lawyer, look into legal aid.

3) Consider the tax implications

This matter involves splitting up assets like investment accounts or real estate holdings, but these things come with their own parts of taxes that may be due when they are divided. Make sure you factor these into your negotiations, or you may wind up paying more than you expected.

4) Talk to your spouse

This is probably the most important thing you can do. Communication is key in any situation, but especially during this situation. You need to be able to come to an agreement on as many things as possible so that there are no hard feelings and you can get through this matter efficiently and quickly. Discussing everything with each other will also help avoid miscommunication which could result in big problems later.

5) Don’t be afraid of mediation

If you have any kind of contentious relationship, it may scare you, but mediation is beneficial because you can keep things out in the open and not make things any more difficult than they should be. Hire someone to act as a mediator and try it out before deciding anything about your separation.

6) Don’t keep secrets

Not only is lying never a good idea, but this will come back around on you in the form of being accused of hiding assets or something worse. If you have something to say, say it. Honesty is always the best policy when going through this situation.

7) Stay civil

This one is probably the most difficult, but it’s important. You will have to deal with each other after the case is finalized, so it’s best not to burn any bridges. Try to be as civil as possible and remember that things will get better in the end.

8) Don’t rush into anything

This is a time-consuming and emotionally draining process, so take your time before making any decisions. It would help if you were sure about what you’re doing before you make any final moves.

9) Don’t sweat the small stuff

Separating is stressful, sure. But if you are working with someone who has your best interests at heart, it doesn’t have to be as bad as you think. Don’t get bogged down in the small stuff.

10) Take care of yourself

It’s easy to get wrapped up in everything that’s going on and forget to take care of yourself. Make sure to eat well, get enough sleep, and exercise regularly. This will help you stay calm and focused during your case.

11) Seek out support

Talking to someone who has been through the same thing or who can provide some friendly support can be helpful. There are often support groups available, or you can find people on the internet who are more than happy to listen and offer advice.

12) Don’t give up

Going through a divorce is tough, but it’s not the end of the world. You will get through this and come out stronger on the other side. Remember to take things one day at a time and don’t try to do everything all at once.

Separating with your legal spouse can be a difficult and emotional time. You might face many challenges before reaching the finish line. Remember, communication between both parties is key for there not to be hard feelings during this process. Mediation may also prove beneficial if there are disagreements about certain aspects of the proceedings. Most importantly: don’t give up. This matter doesn’t have to be scary; remember these tips so that things go smoothly from start to finish.

Should you be in the midst of a divorce or contemplating divorce, contact the Law Offices of Renee Lazar at 978-844-4095 to schedule a FREE one hour no obligation consultation.

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