Lynn Divorce Law Blog

Just as it is throughout the rest of the United States, high-asset divorces in Massachusetts force parting couples to account for any and all assets that have value so they can be dealt with accordingly during the property division phase. Paying close attention to insurance policies in these situations is vital, as making missteps in this aspect of a divorce could lead an individual to lose a fortune.

Let's start with life insurance. You will want to change the beneficiary -- if you so desire -- after a divorce or re-marriage. The reason is that if an individual divorces, but never removed their ex-spouse as the beneficiary on a life insurance policy, that ex-spouse would acquire all policy funds following that person's death. This can be particularly troublesome if the deceased ex-spouse remarried after the divorce. That being said, it is important to remember to change the beneficiary to specify who you want to receive your fortune not only for life insurance policies, but also all estate planning documents.

If you have consulted with a competent family law attorney, or are even a regular reader to this blog, you already know that prenuptial agreements are the most effective way of protecting assets during a divorce. A prenuptial agreement states what assets belong to an individual and what is considered marital property. Under such agreement, an individual will not lose any of the wealth he or she enters a marriage with.

Despite its effectiveness, many couples in Massachusetts and elsewhere shy away from prenuptial agreements because of the negative stigma that can sometimes come with. Some people might assume if their prospective husband or wife wants a prenuptial agreement, he or she does not have faith the marriage will last. This is not always true.

A man, formerly a police officer in Brockton, Massachusetts, is behind bars for failing to pay alimony due to his ex-wife.

The man worked as the head of security at the county jail at the same time he served as lieutenant with the police force in Brockton. He has retired from both of his positions in January 2004.

Many times, we find ourselves mimicking the daily habits of celebrities in hopes that we can possibly duplicate their success. While this might be a constructive practice in the worlds of acting, music or other arts, when it comes to protecting assets during a high-stakes divorce, it would probably be wise to do the exact opposite of many high-profile celebrities.

Famed actor Mel Gibson, who was married for 29 years, finalized the divorce with his wife just before Christmas. The couple got married before the prime of Gibson's career. In fact, he did not have a lot of money at all when they wed, so they found no need for a prenuptial agreement. Even if there was a prenuptial agreement in place, it likely would not have been valid given the time the couple was married.