When navigating through divorce in Massachusetts, alimony can provide a life raft for financial stability. But specific questions often come up, particularly during tax planning season: Is alimony taxable as income? Are the payments tax deductible for the payor? Well, it’s more complex than a yes or no. Federal and state tax laws have changed, […]
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How Social Media Can Impact Your Divorce Proceedings in Massachusetts
You know the old adage, “a picture is worth a thousand words?” In divorce, we say a picture can be worth thousands of dollars. And it’s not just pictures. Anything you post on social media can impact your divorce before, during, and even after the process. You need to be extremely careful. When you understand […]
Read MoreIs It Okay in Massachusetts To Move Out of the Marital Home Before a Divorce Is Finalized?
If you’re divorcing in Massachusetts, it can be stressful or even dangerous to remain in the home with your soon-to-be ex-spouse. When you can’t stand to share the same space with your spouse any longer, is it okay to leave the home? Learn about moving out before a divorce and its implications below. Do You […]
Read MoreThe Devil is in the Details: Navigating Pension Division in Divorce
People often underestimate the complexity of dividing pension assets in divorce. While these assets may provide regular statements, like a bank account or mutual fund, they are not as straightforward as they seem, and they must be handled differently than retirement savings plans, like 401(k) and 403(b) accounts, and regular, non-retirement accounts. It can be […]
Read MoreWhat Does a Parenting Plan Look Like in MA?
Agreeing on a solution that works for everyone can be challenging when you are divorcing or separating, and there are children involved. This is where Parenting Plans come in. By setting out the basic parameters of child care in writing, you can save yourself and your child a lot of stress and confusion in the […]
Read MoreWho Gets the Golf Club Membership in a Divorce?
When you and your spouse are discussing who keeps which property in a divorce, you may not consider your golf club membership. However, your membership is an asset with value that you and your spouse need to discuss. So, who keeps the golf club membership in a divorce in Massachusetts? Is a Golf Club Membership […]
Read MoreHow MA Law Treats Pensions and Divorce
Are you wondering what will happen to your pension or other retirement benefits during the division of property in a divorce? Learn how MA law treats pensions and divorce. Massachusetts Division of Property: The Basics Massachusetts law recognizes two types of property in a divorce: marital property, which belongs equally to both spouses, and separate […]
Read MoreWhy You Might Need a QDRO to Share Retirement Assets in Your Divorce
Gaps between federal pension laws and state divorce laws often leave divorcing couples unsure of how to divide their individual retirement accounts. Learn why you may need a QDRO below for thorough asset distribution. What Is a QDRO? A Qualified Domestic Relations Order, or QDRO (pronounced “quadro”), is a legal court order that tells a […]
Read MoreStock Options and Executive Compensation in Divorce
Co-authored by Jennifer Koiles Pratt and Michael I. Flores When a divorce involves a spouse employed as a higher-level executive, the financial issues involved in property division, alimony, and child support become much more complicated. The executive compensation landscape has changed and now involves much more than just an annual salary, health insurance, and a […]
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