Topic 1: The Kids: If you have kids who aren’t grown up, then this can be the most difficult area to navigate.
Topic 2: Child Support: In any support situation, it seems the support is always too much for the person paying, and never enough for the person receiving it. With child support in Massachusetts, the payments are formulaic.
Topic 3: Child Support, Additional Expenses: Child support monies are intended to cover food, shelter and clothing; but as anyone who has raised a child knows, that is only the beginning.
Topic 4: Alimony: Alimony is determined based on the needs of one party for support and the ability of the other to pay.
Topic 5: Health and Life Insurance: There should be provisions in all agreements, for both health insurance coverage and for how you will handle the uninsured medical expenses for both yourselves and your children.
Topic 6: Taxes: Taxes are among the items you will need to consider when drafting a divorce agreement. You need to think about how to divide any pending refund or liabilities, and how you are going to file for the current or prior year if you are still able to file jointly.
Topic 7: Property Division: The 7th topic to consider is part of the property division. This is controlled by Massachusetts General Laws chapter 208, section 34.
Topic 8: Intangible Personal Property: Intangible Personal Property can be very technical to divide. Pensions, IRAs and other retirement assets, deferred compensation, and stock options all need to be carefully handled.
Topic 9: Debts and Liabilities: In this unhappy recession, many folks who are getting divorced are dealing primarily with how to divide debts, but even if you are solvent you need to consider the various family liabilities out there.
Topic 10: Important for Everyone