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Financial Planning

6 Ways to Tell if Your Estate Needs an Update by Main Line Family Law Center, LLC

According to prominent Pennsylvania estate planning attorney, Philip Levin, no matter the size of your estate, it is always worth planning for, and especially when emerging from a separation or divorce when your assets and standard of living can often times decrease.

Hidden Dangers of Dividing Retirements by Kevin Zlock, P.C.

For many divorcing couples, retirement accounts can represent much of the value of a marital estate. Retirement accounts come in various forms and include Individual Retirement Accounts (IRAs), Roth IRAs, SEP IRAs, 401(k) plans, 403(b) plans, defined benefit pension plans, etc. Division of these various retirement accounts is a common concern for those separating or going through a divorce.

How the Recession Changed Divorce by Kevin Zlock, P.C.

Divorce is rarely a welcome event financially, but in one of the worst recessions in recent history, it can be especially challenging. The state of the economy has an impact on various aspects of a divorcing couple’s finances, including their real estate, retirement accounts, and debts.

Daylight Tax Savings - Don’t Get Caught Sleeping by Alpha Center for Divorce Mediation

As we head into another Autumn season and prepare to turn back our clocks, many folks are in the final stages of their divorce and are preparing to spring forward into their new post-divorce life. With all the distractions and mixed emotions that can be felt during this time, divorcing couples can easily overlook the possibility that they may not receive a divorce decree by years end, due to seasonal court holiday backlog and other delay.

Financial Fitness by Alpha Center for Divorce Mediation

As summer winds down, and the holidays approach, you may start to notice changes in the weather. Preparing for change in advance by adjusting your wardrobe is always prudent. You may be noticing changes with your finances as well. A new independent path can be exciting, but finances can be dramatically impacted.

Should Business Appraisers in Divorce Cases be Jointly Retained? by David E. Coffman, CPA/ABV, CVA

There is a growing trend in divorce cases involving business owners to hire a business appraiser jointly. Before discussing why you should do this, lets look at what happens if you don’t. Each spouse hires a business appraiser separately.

Divorce - Will You Be Ok Financially? by The Fragasso Group

Many emotional issues need to be worked through when a couple begins the divorce process. That becomes so draining that, when they are finally ready to evaluate the financial repercussions of their settlement offers, they tend to rush through this process because they want it "over with".

Methodology For Knowing If You Will Be OK Financially? by The Fragasso Group

So many times people get caught up in simply determining what percentage of assets that they should receive in the divorce process. They become so focused on that number that they lose sight of the overall financial picture and their true financial needs. Do not make that mistake.

Concluding the Divorce Process - Establishing a Plan for the Rest of your Life by The Fragasso Group

You have worked hard to deal with the grief issues associated with divorce. You and your ex spouse have agreed upon a financial settlement. And, the divorce is complete. What do you do next? It is now the first day of the rest of your life!

Cash Flow for Support Purposes by David S. Pollock, Attorney at Law

A flow chart for support purposes.

Tax Aspects of Property Transfers by David S. Pollock, Attorney at Law

he Taxpayer Relief Act of 1997 has provided significant changes to the income tax map for individuals and businesses.

Miscellaneous Tax Aspects of Divorce by David S. Pollock, Attorney at Law

The Taxpayer Relief Act of 1997 has provided significant changes to the income tax map for individuals and businesses.

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If spouses cannot fairly divide the marital property, the court will divide it as fairly as possible. Marital fault is not a consideration in property division. In Pennsylvania, property acquired during the marriage is jointly owned regardless of title. The court considers the duration of the marriage, individual assets and potential for bringing in money, how much each contributed to the marital property, including homemaking, and who will have physical custody of the children.

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