When a Massachusetts couple is engaged, the last thing on their minds may be how their property would be divided in the event of a divorce. No one want to start a marriage by planning for the details of property division in the event of divorce. Unfortunately, statistics show that over 50% of marriages will not survive. Couples walking down the aisle for a second or third time, should be aware that this number swells to 67%. Spouses who face a second divorce are more likely to take a greater financial hit the second time around. One reason that a second or later divorce is potentially more financially damaging is simple: there is often less to be divided. One or both spouses may still be paying alimony or child support from a previous marriage. In addition, many people see a decline in their financial stability when a prior divorce forces the sale of assets such as a home or investments. There could also be tax implications as a result of selling off assets to settle a divorce. Factor in a lethargic economy, a slowing job market and a persistent decline in home values, and it becomes easy to see how a second divorce can cause more financial damage than the first. The end of a second or third marriage may also come at a stage in a person’s life when retirement is on the horizon. Spouses may also be experiencing age related increased costs associated with health care. The best
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