For many Massachusetts spouses, the decision to end a marriage marks a stressful and emotional time. Making matters worse, it can be hard to project how one’s finances will shift as the divorce process moves forward, and many worry that they will run into financial trouble at some point before the final property division settlement is reached. To lessen these fears, many spouses set up a ‘secret’ bank account or cash to get them through the divorce. There are a number of benefits to having access to one’s own money while a divorce is pending. In some cases, the other spouse will react badly to the divorce, and may restrict access to shared bank accounts or other sources of family assets. This can leave the other spouse with little funding to pay for their legal needs or the cost of daily living. Other times, the decision to set aside some money provides a sense of security, even if that funding is never needed. However, there are risks associated with setting up a hidden savings account. One issue involves the risk that one’s spouse could make an accusation that the act of setting aside money is in effect hiding family assets. This could have negative effects on one’s divorce process, especially if the case goes before a judge. The best way to mitigate this risk is to simply fund the account with assets and income that is strictly your own property. This can come from assets that were brought into the

Massachusetts couples who are preparing for divorce have a number of issues to consider. For many, property division ranks high among the priorities, and rightfully so. The financial decisions made during divorce can have lasting repercussions for both parties and, therefore, must be made wisely. In determining how real property will be divided between spouses, it is important to understand how property appraisals can affect the process. Regardless of whether the family home will be sold or retained by one spouse, obtaining a real estate appraisal is an important step. A professional appraisal will look closely at recently sold properties in the same geographic area and of the same basic type and style. This data will be used to calculate an estimation of the value of the home in the current real estate market. Once the value has been determined, it can be easier to negotiate the terms of how real property will be divided in the divorce. For example, if the home is to be sold and it appears that the proceeds will not fully cover the cost of the sale, both parties will be able to plan around the eventual out-of-pocket expense of selling the home. In fact, it may make more sense for one party to remain in the home until the real estate market improves and a sale will net a profit instead of a loss. When considering the appraised value of a piece of real property, it is essential that both parties keep in mind

Massachusetts couples in which one or more parties hold dual citizenship status may find a recent report of interest. The piece outlines some of the difficulties that can arise when dual citizenship enters into play in a divorce proceeding. The introduction of multiple jurisdictions can seriously complicate a divorce, including issues of child custody and property division. For such couples, understanding these issues can help prevent an unfair advantage for one party if a divorce is on the horizon. The primary issue in these types of cases involves the proper jurisdiction in which the divorce will take place. In the vast majority of cases, the nation in which the couple resides at the time a divorce is initiated is the one that holds jurisdiction in the matter. This means that the laws and procedures in place within that nation will be the ones used to determine the details of the divorce. For couples in countries in which women have very few rights, the outcome of a divorce could be a drastically unfair division of property which could leave the wife with virtually nothing. On the other hand, if a divorce takes place in a country in which the assumption is that children are always better cared for by the mother, a husband could find himself with very little legal access to his children following a divorce and custody proceeding. Other concerns include the likelihood that another country will cooperate with the return of a child to the United States in