Pennsylvania Divorce Start Your Divorce Find Professionals Pennsylvania Articles Divorce Facts Divorce Grounds Residency Divorce Laws Property Division Alimony Child Custody Child Support Divorce Forms Grandparent Rights Forum Pennsylvania Products Divorce by County
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.
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.
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.
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.
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.
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.
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".
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.
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!
A flow chart for support purposes.
he Taxpayer Relief Act of 1997 has provided significant changes to the income tax map for individuals and businesses.
The Taxpayer Relief Act of 1997 has provided significant changes to the income tax map for individuals and businesses.
A couple can come to their own agreement about property settlement, which the court will generally accept. The Pennsylvania court will decide if either spouse is entitled to alimony, based on age, physical and mental condition, earning potential, duration of the marriage and standard of living. The court decides the duration of alimony, but support ends automatically if the one receiving it remarries or cohabits.
|Your Right to Child Custody, Visitation & Support
Cover Price: $
Your Price: $17.95
You Save: $7.00
"A Plain English Guide to Protecting Your Children"
Author: Mary L. Boland, Attorney at Law
|The information contained on this page is not to be considered legal advice. This website is not a substitute for a lawyer and a lawyer should always be consulted in regards to any legal matters. Divorce Source, Inc. is also not a referral service and does not endorse or recommend any third party individuals, companies, and/or services. Divorce Source, Inc. has made no judgment as to the qualifications, expertise or credentials of any participating professionals. Read our Terms & Conditions.|