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New tax law ushers in alimony changes

Tax laws and other financial matters have always had a significant impact on how Massachusetts couples divorce. Now, with the Tax Cuts and Jobs Act of 2017, divorce planning is sure to go through significant changes to match the radical difference in how spousal support payments will be handled. The changes will go into effect with the new year in 2019, but they will only affect people who finalize their divorces in 2019 or later. Some couples are hurrying to finalize their divorces on or before December 31, 2018 in order to preserve the current tax treatment.

How divorce impacts retirement planning

Divorce in Massachusetts has the potential of creating financial implications that can last for years. A new report released from the Center for Retirement Research at Boston College underscores the impact of divorce and explores the long-term financial challenges for retirement planning.

Financial planning for the future during divorce

Divorce can be uniquely challenging for many couples in Massachusetts. The end of a marriage is often accompanied by a range of dramatic financial, practical and emotional changes. During this period, it's important to keep some key guidelines in mind in order to avoid making errors that could be costly in the future.

Divorcing couples work together to increase financial stability

In Massachusetts, couples who decide to get divorced may face financial instability after their divorces are over. Some couples are taking a new approach in their divorces to make certain that both spouses will be financially stable following their divorces by working through a collaborative process.

How to help children adjust to divorce

There are many ways that Massachusetts parents can help their children adjust to divorce, and there are also actions they can avoid that could make the situation worse. For example, parents should talk to their children and make sure they do not feel responsible for the breakup. They should also monitor their children for signs of depression and keep in mind that this may manifest as acting out.

Financial issues when getting divorced after age 50

Since 1990, divorce among older adults has more than doubled in Massachusetts and in the rest of the country. The increase in divorces among people over age 50 has introduced several added considerations about finances and retirement. It is important for older adults to carefully consider their finances so that they can understand what type of impact their divorces might have if they decide to move forward with them.

Top 10 Questions New Clients Ask About Divorce

When we meet with a new client who is facing the possibility of a divorce or paternity action, we are asked many of the same questions about the process. In many aspects the divorce or paternity process will be the same, although there will be differences based upon the specific facts of the case and the personalities of parties and their attorneys. Below are ten of the most common questions that we receive from new clients on our initial meeting.

Rental Properties and Divorce

Rental properties are often considered a good long-term investment with potential for income each month from the tenants. However, during a Massachusetts divorce process, rental income can present problems. This is because the properties are assets that must be divided, and they are also sources of income that may be considered for support calculations.

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  • Essex County Bar Association
  • Salem Bar Association
  • Women's Bar Association
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Reade Law Firm, PC
5 Essex Green Dr., Suite 23
Peabody, MA 01960

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