North Andover Family Law Blog

Money is a significant source of stress for many people in Massachusetts. That stress may even feel amplified during periods of uncertainty or significant life transitions, such as divorce. Protecting post-divorce finances is a priority for most people, but how to go about doing so may be less clear. Here are a few things to keep in mind.

After dealing with everything that comes with divorce -- including property division, child custody and more -- it is easy to forget about the small details later on. It is not uncommon for people to forget all about updating their insurance policies and benefits. Whether needing to decrease or increase certain coverage, forgetting to make important changes can cost more in the long run.

Most people in Massachusetts are understandably worried about what their finances will look like after a divorce. For those who earned less than their soon-to-be ex-spouse or who stayed home to care for children, things like alimony and spousal support can be extremely important for financial security. However, life is not perfect, and sometimes the unexpected can change how things proceed during a divorce. Here are a few things to keep in mind if a spouse loses a job during a divorce.

How an ex lost the job is important in terms of figuring out things like alimony and child support. If the ex was laid off through no fault of his or her own and makes a concerted effort to find new employment, the court will probably take that into account when determining how much will need to be paid every month. While it can be understandably upsetting to realize that support payments will be lower than expected, once an ex secures a new position it may be possible to modify a support order.

With all the headache of figuring out how your life will change in your divorce, it may be easy to forget that it affects other lives too. Your child is going through a lot of change as well.

If you don’t consider how your decisions impact your entire family, it could make the experience harder on them. You should know what behaviors commonly occur in children of divorce so that you can help your child avoid them.

Money stress in marriage is nothing new. Most couples in Massachusetts will end up fighting over money at least once or will see it pop back up as a recurring point of stress throughout the relationship. However, in some cases it is much more than being a little stressed about money. When one partner has a money disorder it can make dealing with things like marriage and divorce incredibly difficult.

Money disorders are perhaps more common than some people realize. Those who suffer from this disorder have chronic patterns of financial behaviors that are self-destructive or self-defeating. Symptoms of money disorders can manifest in several different ways and at first may look like simply over or underspending. In reality, things like compulsive spending, hoarding or pathological gambling can cause real and serious consequences on a person's health and personal relationships.