A Massachusetts divorce can have an impact on your credit, though the proceedings themselves are not the reason for this. 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.
The amount of income of your Massachusetts spouse or co-parent has wide ranging significance in your divorce or child support dispute. The amount of both your and your spouse's income will affect whether you're entitled to spousal support and in what amount, how your and your spouse's assets will be divided, and the amount of child support. If you or your spouse does not work a traditional salaried job, showing how much income is available after business expenses are paid can be difficult, and could even provide an opportunity for your spouse to conceal income.
When you go through a Massachusetts divorce, it can be both financially as well as emotionally painful. Moreover, if your former spouse suddenly files for bankruptcy, things can be even more stressful for you as there is a possibility that your financial stability can get greatly affected. Divorce, as well as bankruptcy, may have a great impact on your financial position in various ways based on the new circumstances of your ex-spouse.
In recent years, the word "narcissist" has crept into the popular vernacular to mean someone who's conceited and excessively self-involved. But even though self-confidence can be expressed in a way that makes a person condescending and obnoxious, narcissism is something more. It is a real psychological disorder above and beyond being someone who's merely full of themselves.
Even though a Massachusets divorce is an unfortunate reality of modern life, people still get married every day, and they hope that their partnership with their spouse will stand the test of time.
When their child is getting divorced in Massachusetts, most parents are appalled to to learn that Massachusetts, unlike other states, allows the court to consider the future inheritance of a divorcing spouse when determining how to divide the marital estate. Although a future expectancy of an inheritance is not divisible in a divorce, "the opportunity of each for future acquisition of capital assets and income: is one factor, among many, that the court weighs in the process of equitable distribution.
As the Massachusetts divorce process begins, it's not uncommon for the spouse with the financial power during the marriage to declare war against their former partner by cutting off credit cards, hiding assets and hiring the most litigious attorney. This could send their estranged partner into a financial and emotional tailspin.