Blog: Divorce

7/15/15

Financial concerns to consider during a divorce

A One tip is to sit down and outline the financial reality now and what the future may look like. This can be done by writing down and reviewing credit card statements and bank statements from the past year. This will help outline what each party can afford and what to expect in the future. Including future expenses, such as insurance costs and child expenses like braces, is also recommended. Alimony may be an...

6/30/15

Clearing up divorce process details for Pennsylvania couples

Divorce process will obviously be unique to each couple, yet certain aspects of a split may be more common than couples expect. One part of the First of all, it must be clear that all assets are known. Some assets may be overseas, unknown or simply being hid by one party. Identifying what assets need to be split is the first and vital step toward ensuring fairness. Also, the second step is to be...

6/23/15

Family home can complicate divorce matters in Pennsylvania

For many couples, the family home may be the most valuable asset. It may also be the asset that both parties are the most emotionally attached to at the time of a One plan couples may consider is to sell the home. Even though a divorce may be pending or have been finalized, both must agree on a list price and a plan of action if the house does not sell within a certain...

6/19/15

Preparation needed to protect finances after divorce

One of the biggest points of contention during a Pennsylvania It is first essential to consider how new expenses resulting from the divorce settlement, such as alimony or child support, will impact one’s household budget. Following a divorce, a person would be wise to refrain from engaging in unnecessary spending so that he or she can make sure enough money is available to cover new expenses that he or she might not have thought...

6/2/15

Divorce can impact social security benefits

The If an ex-spouse is 62 years of age or older and the marriage lasted 10 years or more, that person may be eligible for benefits that stem from the earnings of the other spouse. However, there are certain provisions to this rule. If a former spouse’s benefits are less than the other person’s benefits, he or she cannot be eligible for those benefits. Also, an ex-spouse cannot collect his or her own benefits plus...

5/6/15

Marital home issues can impact divorce process in Pennsylvania

Regardless of how amicable a If one party decides she or he wants to keep the house, that spouse may have to purchase the interest of the other. That buy-out amount may depend on an appraisal of the home. The spouse who stays in the home may have to agree to refinance any existing mortgage within a given time frame. Any agreement concerning these issues must be drafted with careful attention to detail, including...

4/30/15

Aspects of divorce to consider for older Pennsylvania couples

While the One aspect is spousal support. Temporary support is not uncommon among younger couples. However, alimony for life, known as permanent alimony, is often normal for couples who have been married for an extended period of time. Retirement funds are also an issue for older couples, as there may be much more at stake than with younger couples. Retirement funds are likely to be split in half, which can drastically alter the retirement dreams of...

4/14/15

Divorce will affect future finances and retirement

Divorce leads to changes in all aspects of a person’s life, including where a person lives and what the financial future may look like. Aside from an initial Any joint retirement accounts will typically be split between the parties. While this is all well and good, the ability to keep adding to those accounts may be altered. This is due to the simple fact that, with separate incomes that are no longer combined, there...

4/7/15

Judge allows unusual means of filing for divorce

The The case involves a couple who wed back in 2009. Apparently, the wife has only been able to communicate her husband through social media, namely Facebook, and through phone calls. This fact led the judge to rule that the woman could file a divorce summons by sending a private message to her husband through Facebook. The ruling requires the woman to send the divorce filing message once a week. She must do this each...

4/2/15

Divorce can factor into a Pennsylvania couple’s benefits

For many, Social Security benefits are a much needed source of support as they age. When a If a marriage lasted for 10 years or more, a person can claim benefits based on the earnings history of an ex-spouse. This holds true as long as the person seeking Social Security benefits is single. If a marriage lasted less than 10 years, there is no way to claim any Social Security benefits related to the...