If you have brought considerable assets into your marriage, or your marriage has lasted long enough for you to accumulate substantial wealth and material possessions, the ending of the marriage by divorce can be an even more stress-filled endeavor than it is ordinarily. It is not just accurately assessing the dollar value that can be problematic; you can also have a contentious experience with your soon-to-be ex-spouse as to who is entitled to what. You may have a nice home, considerable liquid assets in a variety of accounts, a substantial investment portfolio, real estate holdings other than your home, pensions and other retirement accounts, and so on. If you have worked closely with an accountant to protect your assets, you might also have structured your holdings to minimize your tax consequences, but in an asset division this can add to your potential headaches. Helping our clients to understand equitable distribution in Massachusetts, particularly with high-value assets on the line, is something that we at David M. Gabriel & Associates have extensive experience with. We can help you to carefully assess each asset’s actual value, and to navigate specific circumstances like assets connected to a business or properly determining whether an asset is a marital or a separate one. Your divorce may be amicable, but complex asset division can still become a source of friction when it comes to reaching a fair settlement. You will want a law firm to represent you that diligently represents your interests. To learn more about

Being married to a narcissist can be an incredibly difficult relationship. This is more than just someone who likes to look in the mirror a lot. True narcissism is a personality disorder, and it afflicts more than 10 percent of all Americans, including many in Massachusetts. While the relationship itself is hard, trying to get a fair and equitable divorce from a narcissist can sometimes feel downright impossible. The reason divorce is so difficult when it involves a narcissist is because this kind of personality disorder leaves the afflicted with little to no empathy for other people. This can be especially detrimental in a high-asset divorce, where stock options, real estate holdings and other expensive assets are at stake. While you may be willing to negotiate an equitable distribution, your partner may feel they deserve everything. What can be even more challenging is the fact that, in general, narcissists are vengeful. They will dig up every bit of dirt they can on you to use in court, and they will often berate you in front of your children. After all, narcissists typically do not empathize with you or with the kids. Even after the divorce is settled, they will do everything in their power to make sure you “suffer for what you did.” Of course, these are generalizations about those with a narcissist personality disorder. Every person who is afflicted with this disorder may act differently. One of the best ways to get through a high-asset divorce with a narcissist

One of the most difficult aspects of filing for divorce is determining how the finances will be divided pending a final allocation by agreement or by the court. This is especially a problem for the spouse whose earnings and assets are substantially less than those of the other spouse. In that situation, the spouse with fewer resources may try to stay in a marriage, however unhappy he or she may be, for fear of a loss of lifestyle. If you watch television at all, you’ve probably seen commercials for settlement funding, which provides advance or immediate payments for injury victims involved or awarded damages in a lawsuit. A similar service is now available in Massachusetts designed to allow a spouse to file for or agree to be a party to a divorce without the fear of a cash crunch as it proceeds. The firm already operates in dozens of other states and makes loans to a spouse that needs money to cover living expenses and even legal fees that must be paid during the course of the divorce proceedings. The founder of the service says that most of their clients are women involved in a high net-worth divorce. He says that a client should have a net worth at stake of at least $600,000 to make the service and the interest rates worthwhile. The average loan is $250,000, with a minimum loan of $50,000. As with settlement funding, this arrangement is not for everyone. Some spouses may have access to

A divorce is often stressful enough by itself even before the spouses begin to sort through which assets should go to whom. The longer a couple has been together, the more challenging the question of asset distribution can become; and when the spouses have participated in activities like running a family business, a high-asset divorce can become quite contentious. Part of the reason why the division of assets in a high-end divorce can be so difficult is because of the varied nature of the assets. Business properties, extremely valuable property items, bank accounts, retirement funds and even hidden assets can all come under consideration. Given that Massachusetts is what the law refers to as an “equitable distribution” state, the allocation of assets is not formulaic but rather depends on the concept of “fairness”. And what may seem fair to one spouse may not seem so fair from the perspective of the other. Going through a high asset divorce can lead to many questions, and David M. Gabriel & Associates can help to provide practical and insightful answers and assistance to our clients. Whether you need assistance in crafting a divorce settlement agreement that is as balanced and as fair as possible to both sides, or if you and your soon-to-be ex-spouse cannot seem to agree on anything and you need someone to advocate vigorously on your behalf at trial, our combined experience with Massachusetts family law matters means that we can customize our legal representation to best suit your individual

Prenuptial agreements can be very helpful, particularly in high asset divorces. Most people think of a prenuptial agreement as a way for a spouse to protect his or her assets. While this is certainly one reason to use them, prenuptial agreements have a lot of other important and practical uses. Under Massachusetts law, a prenuptial agreement is a written contract between two people prior to getting married. The purpose of this contract is to set ground rules about how to handle property, finances, and other related issues in case the marriage ends, whether by divorce or death. The good thing about prenuptial agreements is that you can adapt them for your particular circumstances. If you or your spouse has a lot of assets, you can use the prenuptial agreement to protect those assets in case the marriage ends. You can also use a prenuptial agreement to specify how property will be divided up or to prevent one spouse from assuming the other spouse’s debts. Or you can define the conditions of alimony, like the amount and duration. Prenuptial agreements do not only have to be about finances. In the agreement, you can set terms related to parenting, such as decision-making and allocation of responsibilities. Perhaps most importantly, prenuptial agreements can help you save a lot of money and stress in the event of a divorce. Getting a divorce can be extremely costly, especially if the divorce is contested. Common costs associated with divorce include court fees, attorney fees, and mediation

After people divorce, most do not intend for any of their assets or property to pass to their former spouses. While people may remember to change their wills, they may wrongly believe doing so will automatically change the person to whom their life insurance and retirement accounts will go to. The beneficiary designations on such accounts and policies supersede any contrary information in a will, however. It is thus vitally important that people review their designated beneficiaries in a divorce. Intended account beneficiaries may not be changed while a divorce is pending. Prior to filing the divorce, people are able to change their beneficiaries. For certain types of retirement accounts, both spouses will have to sign the beneficiary change form, though. If people share a financial adviser, they should be aware that the adviser might inform the other spouse of a change in beneficiaries as well. If changes are not made prior to filing for divorce, people will have to wait until the divorce is final to make the changes. In some divorce cases, a spouse agrees to continue carrying life insurance to benefit the other spouse after the divorce. As courts will sometimes find that the life insurance should instead go to a different person, the former spouse for whom the policy was intended may be out of luck. Following the divorce, they should make certain their spouse reaffirms them as the intended beneficiary to prevent this from occurring. In a high-net-worth divorce, the division of property may be

A recent report suggests that the long-term care required by older Massachusetts residents may be costly. According to one estimate, some individuals may be paying as much as $83,000 each year if they are seeking treatment in a skilled nursing facility. Furthermore, approximately 70 percent of individuals who are older than 65 will require some form of long-term care. The report goes on to state that these figures and Medicaid might be a driving force for an increase in divorce. Suggesting that approximately 66 percent of the aggregate cost of long-term care is covered by Medicaid, the report states that many individuals seek financial help from Medicaid long-term care benefits. These funds may be used to cover home health services or room and board for some individuals over the age of 21. Qualifying requires that the person meet federal guidelines on poverty. Individuals may also spend down their income in an attempt to qualify. Based on a five-year look back period and a recovery process that Medicaid might initiate against a person’s estate after they pass away, the report argues that the rules are promoting divorce. It suggests that if a couple is still married, the assets of the partner who is not receiving benefits are not protected unless they are no longer living together. However, if the couple divorces, they are allowed to live together, and the non-receiving party’s assets are not subject to estate recovery. As this information shows, there may be some financial benefits to seeking a

The amount of a 401(k) account that has accumulated during a marriage is considered to be marital property and thus subject to division in Massachusetts divorce cases. Although early withdrawals prior to the account holder’s reaching the age of 59 1/2 would normally give rise to an early withdrawal penalty, the law provides an exception to this when a withdrawal is made pursuant to a court’s order. When the divorce occurs, the court will issue a qualified domestic relations order defining the portion of the account owed to the other spouse and listing the payee spouse’s identifying information. If the order is not prepared correctly, the account holder may still be subject to the penalty. Upon a correctly completed and submitted QRDO, the plan administrator will then withdraw the amount ordered for payment to the recipient spouse. Although the account holder will not incur an early withdrawal penalty, the payee spouse will incur tax liability for the lump sum payment he or she receives if that is the manner in which they choose to receive what is owed. They may thus wish to explore other options, such as leaving the portion owed to them in the account of their spouse, with the percentage that belongs to them clearly defined in the QRDO. While the recipient will not be able to add funds to the amount or to withdraw prior to when their spouse does, doing so may provide some tax benefits. Another alternative is to roll the finds received over