Blog: Division Of Assets

12/18/24

What happens to the family pets during a divorce?

People preparing for divorce often have questions about what may happen during and after the divorce process. Parents may worry about custody of their children, while business owners may worry about the equity accrued in their companies or professional practices. For those with pets, concerns about the future of their animals are often a top consideration prior to divorce. Pet owners love their furry companions and may worry about what may happen to their pets...

8/9/24

3 ways to divide your marital home in Pennsylvania

When you are going through a childless divorce, the fate of your marital home often takes center stage. For many couples, their home is their most valuable asset, both financially and emotionally. Deciding its future can be complex, stirring up a mix of practical concerns and deep-seated feelings. Understanding your options and approaching this decision with a clear head can help you avoid legal problems down the road. Exploring your options When it comes to...

4/18/24

What happens to retirement accounts in a Pennsylvania divorce?

The process of preparing for divorce is lengthy and often quite complex. Even couples who commit to cooperating with each other and comporting themselves with dignity may struggle to cooperate when emotions run high. Custody issues are often a trigger for emotional conflict, but financial issues can also lead to disputes between divorcing spouses. Those who recognize the issues that could complicate their divorce proceedings can potentially take steps to reduce the conflict that arises...

1/20/22

3 mistakes to avoid during property division

When a couple decides that divorce is the best option for their future, they must proceed through a complex process punctuated by numerous compromises and negotiations. From child custody and a parenting time schedule to financial support and property division, the divorcing couple must navigate many discussions before embarking on their exciting new futures. For many couples, the division of property and debt responsibility represents a significant barrier in the divorce process. Property division can...

1/6/22

How are investments divided in a Pennsylvania divorce?

If your marriage ends, you need to know how the court might divide your financial assets to protect your investments and keep yourself from financial turmoil. Here’s how the Pennsylvania court divides investments and other assets in a divorce. Marital versus separate property Before the court divides anything during your On the other hand, any stock or investment made while married is marital property and subject to division. Also, if you bought stocks before...

10/30/21

How assets remain hidden in a divorce

After you discuss a divorce with your spouse, don’t be surprised if their assets disappear. It’s not unusual for Pennsylvania residents to hide their assets even before marrying. As a partnership between two adults, however, it’s your legal responsibility to disclose your assets within a marriage. No matter why the marriage is ending, both of you deserve to have an equitable division of your estate. This can only be done once all assets are disclosed...

9/23/21

A forensic accountant: the ally you need to find hidden assets

Your spouse concealed so many things from you during your marriage, and you grew tired of it. Many times, you uncovered some of those secrets on your own. But after one too many bouts of distrust and abandonment, you have filed for divorce. And you want to make sure you secure your rightful share of marital assets. A professional who may help you is a forensic accountant. When looking for hidden marital assets, forensic accountants...

8/30/21

Certain methods used to hide marital assets

The distrust remained rampant in your marriage as well as through the divorce proceedings. It lingered. Now comes the time to review your union’s marital assets, and you strongly suspect that your estranged spouse is holding out on you. Your suspicions are likely correct, too. Too many times, assets get hidden in tumultuous and not-so-tumultuous divorce cases. Cash, stocks, bonds, mutual funds, life insurance policies and certain savings bonds are among the most hidden assets...

8/5/21

Certain assets often get overlooked in divorce

Divorce brings many feelings and matters to the forefront. You must overcome the anger, shock and frustration and also get down to the legal nitty-gritty. The latter includes child custody, alimony and division of assets. For affluent couples, dividing those assets often proves to be a difficult task. Through the years, those assets accumulated from a second or third home to investment property and an abundance of financial investments, stock options and a retirement portfolio...