Massachusetts Small Business Owners Going Through Divorce: What You Need To Know

Divorce is never easy, and it gets more complicated when a couple begins a successful business after their marriage. Massachusetts is an equitable distribution state which means the business equity is held marital in nature even if only one person does the work. There are very few people who divorce and then are able to manage working together on a daily basis, so splitting the company or leaving it is generally best for one spouse. Using mediation rather than going to court is an effective way of ensuring both parties continue to profit from the successful business, and it is the best way to ensure future alimony payments through divorce and family law court. Splitting the Business Down the Middle There are some businesses where splitting a company is relatively easy, and each person has their own territory. Mediation helps to decide which partner gets a particular territory, and this
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Massachusetts Alimony Reform Law

On September 26, 2011, Governor Deval Patrick signed the Alimony Reform into law. Following the trend of other states, this new Massachusetts law clearly sets out different kinds of alimony, including setting alimony term limits, where the ex-spouse is expected to become self-sufficient within a certain time period. 1. Alimony Term Limits  Long-term marriages (more than 20 years): Alimony will end at retirement age as defined by the Social Security Act. 5 years or less: Maximum Alimony term is 50% of the number of months of marriage. 10 years or less but greater than 5 years: Maximum Alimony term is 60% of the number of months of marriage. 15 years or less but greater than 10 years: Maximum Alimony term is 70% of the number of months of marriage. 20 years or less but greater than 15 years: Maximum Alimony term is 80% of the number of months of marriage.
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Divorce Thoughts – Choosing your divorce attorney

Don’t listen to everyone Each divorce case is different and each divorce is unique. Spend some time with a few different divorce attorneys before you make a decision and find the one whom you feel most comfortable. A long term marriage with children usually results in child support and/or alimony however that is not always the case. There is not an always in Probate Court, if you are a working spouse or a homemaker, find the right attorney for you. Many times with enough work the amount of alimony can increase, decrease or not be awarded. Many times the child support can be increased or decreased. Each divorce involves specific facts and circumstance for the husband and wife. Don’t rush This is the separation of your life. Don’t feel rushed or bullied by anyone. In most circumstances the court will do what is fair. If you don’t feel something is
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