When people think about how to proceed with their negotiations when dissolving a marriage, they typically look at the biggest assets first. These include the marital home or the car. However, other important assets to consider during a divorce proceeding include retirement plans and stock awards, and these assets can be complicated to address.
An important point to consider when going through asset division during a Massachusetts divorce is what type of split makes the most sense for a person’s situation. For instance, initially, it may seem just to split retirement savings down the middle. However, if one’s souse has more income and a more solid work history, he or she will probably be able to rebuild savings more quickly than the other party may be able to.
Women in particular may have weaker employment histories if they chose to stay home and take care of the kids while their husbands worked outside of the home. In addition, when it comes to retirement, women usually have longer retirements than men do, typically meaning that their retirements also cost more. Therefore, a 50/50 split of retirement assets may not really be fair in the end.
Dividing assets during divorce can be a complex and challenging process in Massachusetts. However, if the two people getting divorced can find some common ground, they may be able to achieve a mutually beneficial resolution through divorce negotiation or mediation. The right legal guidance may help a person to fight for his or her best interests during this type of family law proceeding.
Source: Forbes, “Divorcing Women: Don’t Lose Out On Funds You’re Entitled To“, Jeff Landers, Dec. 7, 2016