A Massachusetts divorce for some, it means liberation. For others, loss. For women in particular, the doubling of the divorce rate for the 50-plus crowd since the 1990s can mean something far more prosaic: a need to shoulder the big financial decisions they'd let their spouses deal with when they were married.
Divorcing spouses in Massachusetts must take steps to protect their finances and credit early on in the divorce process. The impact of not doing do will last years after the ink on the divorce decree dries. In order to protect assets, income and credit, the following are steps that everyone going through a divorce must take.
When you're divorcing in Massachusetts, one of the questions curious friends and family eventually ask is, "So . . . are you going to keep the house?"
A Massachusetts divorce can have an impact on your credit, though the proceedings themselves are not the reason for this. In other words, couples shouldn't expect their credit scores to plummet the second they file for divorce. However, there are things that occur during divorce that can have a negative impact on credit.
A Massachusetts divorce can change nearly everything about how you live-your relationship, your home, even what you do for a living. If you own a small business, that business may be subject to division along with the other property you own with your spouse. Learn more about what makes a business a marital asset, and what your options are as a small business owner going through a divorce.