When a Massachusetts couple decides to end their marriage, the manner in which they choose to divide their assets is often the central focus of the divorce process. However, even couples who are unmarried can find themselves in need of property division assistance. In the absence of marriage, couples who share expenses can find little guidance in the division of accumulated assets and debts, leaving many in a precarious financial position. For couples who are not yet married but are sharing housing and other expenses, experts advise against pooling income and assets. A better approach is to simply divide the household expenses in a manner acceptable to all parties, then pay those bills from separate accounts. For example, a couple might agree that one party who earns significantly more will be responsible for the rent and utilities, while the other covers the cost of food and household supplies. Another important factor within a serious relationship is to have a series of open and honest discussions about each partner’s approach to money. This includes a full disclosure of existing debt, assets and income. It is also helpful to talk about future financial plans, such as savings and retirement goals. Having these talks can help both partners decide if the financial outlook of the other party is in line with their own. For those who decide to marry, detailed financial discussions can also make it easier to broach the subject of a prenuptial agreement. The process of drafting such a contract is

Every Massachusetts spouse who goes through a divorce will have to navigate the process of dividing marital assets. This can be a difficult process, especially in cases in which the family holds assets that are complex and varied. However, even relatively “simple” divorce cases involve property division, and the choices made during this stage of a divorce can have a lasting impact on the financial health of all involved. One tip for avoiding unnecessary losses during property division is to approach the process with a calm, business-like approach. While it can be difficult to remove one’s emotions from the mix, this is exactly what is called for in order to achieve the most favorable outcome. Decisions that are made while under stress or feeling pressured are virtually never the best available options. Spouses should make every effort to begin and complete the property division process with a clear head and an eye toward the future. One way to assist in this goal is to avoid unnecessary contact with one’s soon-to-be-ex during this stage of the divorce. While there may need to be some level of contact, especially for those who share children, there are ways to minimize the interaction one has with their spouse, at least in the short term. Friends and family can help with transferring the kids between homes. Some spouses find it helpful to limit communications to email during this timeframe. Massachusetts spouses should keep in mind that divorce is a relatively brief period of time in

Having solid health insurance coverage is an important consideration for many Massachusetts spouses who are considering filing for divorce. In most cases, spouses who are covered under their partner’s employment benefits will lose that coverage once their divorce is made final. In these scenarios, it is important that the cost of obtaining new coverage plays a role in the property division portion of the divorce process. If and when the Affordable Care Act (ACA) is fully up and running, many people may be able to access health care at rates that they can work into their budget. This may give some the ability to move forward with a divorce filing. For those who have postponed divorce for a long time, the ACA may come as a welcome relief. There is no need to wait for the ACA to factor into one’s decision to divorce, however. By including the cost of health insurance into the property division negotiations, spouses can ensure that they have the financial means to purchase their own insurance coverage. It is possible to negotiate a settlement that either nets more in spousal support, or gives a greater share of assets that can offset the cost of buying insurance. As with all other matters surrounding a Massachusetts divorce, being fully informed about the manner in which divorce will affect one’s health coverage is important. Spouses who are aware of the ramifications of various settlement options are better prepared to make wise negotiating decisions. Divorce is a new beginning,