Blog: Divorce

12/17/15

Takes smart steps to protect finances during a divorce

The Credit cards need immediate attention. Debts that one party accrues can easily be the responsibility of both parties if the divorce is still unfolding. All cards should be closed. Once this is done, both parties should open up new accounts on their own so as to start the process of building good credit for future financial matters. Another financial move aside from splitting what is in accounts relates to beneficiaries. Life insurance and...

12/15/15

Help to avoid common mistakes with kids during a divorce

The One common mistake that legal guidance can help parents avoid is having an unpredictable custody arrangement. While life circumstances may warrant changes to plans and schedules, not having a somewhat predictable plan can make divorce harder on the children and parents. One tip to make it easier for kids in particular is to have a calendar in a child’s room with an outline of when the child will be with each parent. Another...

12/2/15

Divorce advice for Pennsylvania clients

Anyone going through the Finances matter and property division can impact those finances. Assets can include many items people often forget to consider, such as frequent flyer miles or other intangible assets. These can be divided, as can debts. Since property division can impact future finances, it may be tempting for some to hide assets. This is illegal and can backfire once the process unfolds and the concealment of assets is discovered. It is...

11/19/15

Divorce decisions: duration and amount of alimony payments

Alimony is not set in stone, and there is no set amount ordered in every individual case. When someone in Pennsylvania is pursuing a The amount ordered for alimony payments will depend on the spouses’ incomes. Also, the ability of both spouses to earn their own livings will affect the amount of alimony ordered. If one spouse is disabled or unable to work, that person may receive more alimony when compared to someone who...

11/4/15

The importance of property division decisions during divorce

Sharing a mortgage with one’s spouse may be perfect when times are good. However, when When one spouse decides to stay in a home, the person who decides to keep the house likely needs to have the mortgage put in her or his name. This means he or she must qualify for the mortgage without his or her spouse’s income, which can be difficult when a home was purchased based on two incomes. In addition to...

10/27/15

Family pet may take center stage during a Pennsylvania divorce

When a couple splits, the dissolution of the marriage also means a splitting of marital property. While many pet owners do not regard the pet as property, according to the law in Pennsylvania and other states, animals are dealt with in the same manner as other assets, and important decisions regarding the fate of those animals must be made during a The courts will weigh options and consider the individual circumstances of each case...

10/15/15

Help may be needed to uncover fraud during divorce

Divorce is typically a time of emotional upheaval, but it can and often is a time of financial upheaval as well. The property division process during a An attorney might enlist services from forensic accountants to discover if fraud is an issue. This will allow for the tracing of funds and can outline a paper trail of what may have unfolded during the marriage. A thorough review of old tax returns, credit card activity...

10/6/15

High profile divorce leads to several being subpoenaed

Once a couple decides to split, the act of splitting assets, funds and child custody can be a more in-depth process than some may realize. Pennsylvania couples may find they need outside help from other professionals in various fields in order to move forward with the The husband is the billionaire founder of Citadel. His wife signed a prenuptial agreement in 2003, and the husband filed for divorce in 2014. The couple has yet...

9/29/15

Financial steps for Pennsylvania couples going through divorce

Regardless of the status or length of a marriage, there are serious financial changes that will occur. Those financial changes need to be addressed by both parties in a divorce in Pennsylvania. Once both parties address these immediate financial concerns and obligations, the First and foremost, important financial documents must be located and secured. This can mean tax returns, investment statements and any credit card company reports. Making copies and securing hard copies with...

9/15/15

Equitable distribution of property can involve pets

Many families have a deep attachment to their pets. For some family members, the attachment and love for a family pet can be just as important as the love for a child. This can be evident in Pennsylvania courts as property division agreements can involve disputes concerning the fate of these pets. While still legally regarded as property, more and more courts are taking individual cases into consideration and implementing creative resolutions when One...