February 2015

Virtual visitation in Massachusetts

Some parents may have questions about virtual visitation, especially if it is presented as an option during child custody determinations. Virtual visitation often appeals to non-custodial parents who see it as a way to maintain frequent contact with their children between visits. However, many parents have misgivings about it, particularly if they believe custodial parents are using it as an alternative to traditional visitation. Virtual visitation allows for parents and children to communicate in traditional ways via non-traditional channels. This type of communication, which often involves the use of video chat software, instant messaging or social networking sites, give non-custodial parents the chance to read their children bedtime stories, help them with their homework, see awards or trophies from competitions or watch recitals or sports events in real time. Proponents of virtual visitation say that allowing parents to stay in regular contact with children and remain involved in their lives in this way helps strengthen and maintain the bonds between them. Some parents and family law experts have noted the potential for abuse of virtual visitation. Custodial parents may use regular virtual contact between non-custodial parents and children as a justification for limiting traditional visits. In addition, judges sometimes will allow custodial parents to make a long-distance move in case where it would not normally be warranted because parents may be able to avail themselves of virtual visitation. Though it is a useful supplement that can bridge the gap in between traditional visits, non-custodial parents in Massachusetts often have concerns

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Complex property division in Massachusetts divorce cases

The issue of property division often becomes contentious in Massachusetts divorce cases, and this is especially true when the assets involved are significant. Assets such as stock portfolios, artwork and real estate are often difficult to divide equitably, and sometimes reaching an understanding regarding their value is challenging. Experts may be called upon to assist with such valuations, but even experts sometimes find an agreement elusive. Massachusetts law requires marital property to be divided equitably, but that does not mean all assets must be allocated equally between the spouses. In many cases, the primary residence will not be sold, and the spouse who remains in the home will receive a smaller share of other assets. The unpredictable nature of appreciation is another consideration, and discussions about the division of assets that are expected to increase in value may become antagonistic. When an agreement can not be reached, a judge will decide what is fair. If you are contemplating a divorce, you may have concerns that go beyond how assets will be divided. Investments are often highly complex in nature, and you could face taxation issues if they are liquidated before maturity. You may also have concerns about business holdings if dividing stock equally would impact your ability to run a company effectively. Our extensive experience in high net-worth divorce cases makes us familiar with these issues, and we help our clients to remain focused on pragmatic considerations while we provide strong advocacy to protect your interests. If you are considering

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Financial considerations when a marriage ends

Many marriages in Massachusetts and across the nation end in divorce, and an individual should be prepared if they believe they are headed toward dissolving their marriage. If the couple has not established a prenuptial agreement, each person might consider hiring a financial advisor before they sign the divorce decree. In a high net-worth divorce, taxes and financial implications can seriously affect what each person walks away with when the marriage ends. Generally, assets can be transferred between married parties without tax implications. However, dividing some assets, such as stocks, art collections or mutual funds, can lead to serious tax penalties. A financial advisor, tax attorney, accountant or other professional can provide additional counsel regarding retirement funds, Qualified Domestic Relations Orders, Individual Retirement Accounts, federal and state income taxes, an estate plan or the dependency exemption for children. The most valuable joint asset for a couple will probably be their family home. The couple might choose one of three options: selling the home with an immediate division of the proceeds, selling the home with delayed division of the proceeds or a buy-out of the interest in the home by one party so that the other party keeps the home. In any of these cases, either partner can prevent payment of capital gains taxes by reinvesting the earnings from the home. However, in order for both parties to qualify, they must have both lived in the home for a certain amount of time. Otherwise, they risk losing their eligibility. During a

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Impact of property and debt division on credit

As a part of the property settlement in a Massachusetts divorce, the debts the couple have will also be divided in the divorce decree. When a debt is allocated to a spouse who fails to pay or pays late, the credit of the other spouse, if the debt was one that was held jointly, may be negatively impacted despite the order. Creditors are not parties to divorce actions, and as such, they can still hold anyone listed on an account liable for its balance. This can cause a problem in the event the spouse that is supposed to repay the debt according to the property settlement fails to do so. His or her late payments or non-payment can be reported on the other spouse’s credit report, and the company may initiate collection actions against either or both spouses. One option a spouse has in the event his or her ex fails to pay a debt that was required to be paid under the property division order is to file a motion for contempt with the family law court having jurisdiction over the divorce action. The court may then take steps to enforce its orders. When people are getting divorced, it may be a good idea to try to get their names off of any jointly held accounts, including debts for which they will not be responsible under the property settlement order. The marital property will include the debts incurred during the marriage, and those debts should be expected to be

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