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Divorce does have its perks

The dissolution of a marriage in Massachusetts certainly has its challenges. For example, it is not uncommon for divorcing couples to have disagreements regarding who should get custody of the children or gets to keep the marital home. However, divorce does have a few positives, too.

First, if two divorcing parents decide to share custody of the children, this offers built-in balance from which both parents can benefit. For instance, each party is essentially forced to experience some personal time without the children. They can use this time to practice better self-care, such as getting pedicures, visiting the gym or even going out to a fine restaurant by themselves.

Seafood eatery seeks Chapter 11 bankruptcy protection

A seafood restaurant in another state recently experienced dwindling revenue as well as management-related changes. As a result, restaurant leaders decided to file for Chapter 11 bankruptcy. Companies in Massachusetts that are financially struggling may benefit from doing the same to get back on track.

In the out-of-state case, the seafood restaurant's dwindling revenue was partly due to natural disasters. Specifically, Hurricane Irma ended up forcing the eatery to close between September and November of last year. In the more distant past, the restaurant also sustained major damage as a result of Hurricane Matthew.

Bertucci's pizza chain seeks Chapter 11 bankruptcy protection

Massachusetts pizza company Bertucci's recently decided that it was in dire financial straits and therefore had to make a change. That change came in the form of a Chapter 11 bankruptcy filing. The filing took place on a Sunday, with many restaurants closing as a result.

The company, in its court filing, said it expected to reject a total of 29 leases immediately. For now, Bertucci's still has 59 locations, and the pizza chain remains open. However, company officials said that the business runs the risk of shutting its doors without a fast bankruptcy sale.

Prenuptial agreements may not be enforceable in certain scenarios

Sometimes, marriages do not last, no matter how hard two spouses try to make it work. When divorce cannot be avoided, one of the most valuable tools a couple in Massachusetts can have in their arsenal is a prenuptial agreement. However, prenuptial agreements are worthwhile only if they are created properly.

A prenuptial agreement is a legal document that essentially explains what will happen to two spouses' assets if they decide to get divorced. This type of document is created before two individuals walk down the aisle. However, if may end up not being enforceable for a variety of reasons -- for instance, if coercion was required to get one of the parties to sign the agreement.

Number of Chapter 11 bankruptcy filings rising

A number of businesses have come across devastating financial problems lately, especially those in the retail industry. In fact, the number of brand-new Chapter 11 bankruptcy filings in the United States, including in Massachusetts, spiked more than 60 percent year over year this past March, with the number of filings jumping by 299. The filing count jumped to 770 -- the highest figure recorded in a month's time since April of 2011.

In April of 2011, the number of Chapter 11 bankruptcy filings was 789. At that time, many companies were still attempting to recover from the infamous Great Recession. The recent increase of 299 filings this past March is the nation's second-largest jump year over year for a month since the recession.

Debt and property division may pose challenges during divorce

Without a doubt, getting divorced is not an easy process emotionally or financially in Massachusetts. One of the most challenging aspects of divorce to address is property division. This is particularly true for divorcing spouses who have large amounts of credit card to divide along with assets such as money and real estate.

The state of Massachusetts is considered an equitable distribution state. This means that all assets and debts are split in a manner that the court considers to be fair, or equitable.  This is the opposite of what takes place in a community property state, where assets and debts are divided down the middle.

Pets becoming even more of a fighting point during divorce

When two spouses decide to get divorced, they split their property and usually share custody of the children. However, what happens to Rufus, their dog? If they both have an affinity for Man's Best Friend, this can easily spark conflict during a divorce proceeding in Massachusetts.

A survey recently noted that the number of divorce proceedings involving pet custody conflicts has increased in recent years. Dogs were the most fought-over pet, with 88 percent of cases involving these furry animals. Cats were a distant second, with only 6 percent of custody cases involving felines. Horses and other animals also make up around 6 percent of pet custody cases.

Securing financial future after divorce is possible

A marital breakup in Massachusetts can be emotionally and financially difficult at any age. However, those above 50 face an extra challenge, in that they do not have many years to bounce back from divorce financially before they reach retirement age. A couple of tips may help these individuals to prepare effectively for retirement in the years ahead.

First, a recently divorced person may benefit from working a little longer than planned before retiring. Even an extra year of work can make a big difference, providing more money for him or her to live on. This is especially important, considering that spending a couple of decades to four decades in retirement is not uncommon these days in the United States.

Remington files for Chapter 11 bankruptcy protection

One of the oldest manufacturers of guns in the United States, Remington, recently determined that it needed to take aggressive action in light of its financial situation. The company thus chose to file for Chapter 11 bankruptcy. Companies in Massachusetts that are facing financial struggles may also benefit from this type of bankruptcy filing.

Remington decided to file for bankruptcy due to its heavy debt and falling sales. In addition, the company anticipated having to deal with negative court rulings related to the Sandy Hook school massacre that took place in 2012. As part of its bankruptcy filing, the company outlined a restructuring plan that detailed how it would maintain its operations and keep paying salaries and benefits to employees. The company ultimately plans to relinquish control to its creditors.

Research indicates link between genetics and divorce

Sometimes getting divorced in Massachusetts is unavoidable if two spouses cannot resolve their differences. However, recent research shows that the tendency to get a divorce runs in people's genes. This may offer some solace for those wondering why they could not prevent their marital breakups from happening.

Researchers in the study compared the divorce rates of adopted children and their parents. About 20,000 children took part in the study. The study showed that children whose biological parents had gotten divorced were more than 20 percent more likely to get divorced, too. Meanwhile, the impact of having adoptive parents who had gotten divorced appeared to be nonexistent.

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