Going through divorce can be financially trying for the Massachusetts parties involved. There are, at times, many fees that come along with the proceedings, and individuals may also need to determine how they are going to handle their household finances once they are no longer married. In many cases, this could mean that alimony is paid from one spouse to the other to help supplement their income.
When it comes to determining alimony amounts, it is important that all financial information is disclosed. It is true that some parties may feel negatively about such proceedings, and in an attempt to appear less financially inclined, one party may attempt to hide certain accounts or assets. If a party does attempt such actions, the other party could potentially not receive the proper amount of alimony.
By gathering important documents, parties may be better able to keep the other individuals involved from hiding information. Tax returns, bank account information and other such documents could provide important information to the court when it comes to assessing the financial situations of each party. Because such documents are typically legally binding and come with severe penalties if they are not filled out honestly, most individuals typically disclose the correct information.
Because alimony and other spousal support can be a trying topic for some parties, it is not surprising that some individuals may wish to hide certain information in order to come out better. As a result, parties who are in need of such support may need to ensure that the proper documents are in order. Information on alimony and other divorce proceedings in Massachusetts could help concerned parties better understand what financial information may be most helpful.
Source: yourhoustonnews.com, “Financial items to consider during a divorce“, Byron W. Ellis, June 21, 2014