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Property Division Archives

State compels spouses to collaborate on property division, more

Many Pennsylvania spouses have heard the term "collaborative divorce," but are uncertain how that process actually plays out. Because collaboration is still outside of the norm in divorce law, many people immediately eschew it as a valid option. That is unfortunate, because there are a number of advantages to taking a collaborative approach to reaching a divorce settlement. One state has gone so far as to legislate divorce, and now requires couples to at least attempt to work out matters of child custody, property division and more on their own, outside of court.

Parents sometimes insist on prenups to protect property division

Many Pennsylvania residents enter into prenuptial negotiations because they want to go into their marriage with a clear understanding about how assets would be handled in the event of a divorce. There are cases, however, where it is not the prospective spouses but their families that insist that a prenuptial agreement be put into place prior to the marriage. That may seem like an overbearing approach, but families who take this stance do so out of concern for their loved ones, and a desire to protect against significant losses in the event that a property division process should become necessary down the line.

Pennsylvania property division: Don't forget the QDRO form

Going through a divorce? Have retirement accounts to split? Before agreeing to or submitting a property division settlement for final approval, Pennsylvania residents need to make sure that they have filled out and filed qualified domestic relations order forms. If they do not, they will only hurt themselves financially in the long run.

When it comes to property division, be careful what you wish for

Figuring out how to divide marital property when a relationship comes to an end is not always easy. There may be certain consequences associated with a property division settlement that you may not consider at first. At the end of the day, how your property is ultimately divided can end up affecting other areas of your divorce settlement. For this reason, it is not wise for couples in Pennsylvania to rush through this phase of the dissolution process.

Property division and nesting: How do they work together?

After divorce, in an effort to keep things as normal as possible for children, some parents in Pennsylvania and elsewhere are turning to the living arrangement known as nesting. This is not something that a judge will order. Rather, it is a personal choice made by parents and the arrangements have to be carefully put together through out-of-court negotiations. There are many issues that can arise from such an arrangement, particularly where property division is involved.

What to do when one spouse keeps assets from property division

Billionaire Harry Macklowe and wife Linda are getting a divorce after 58 years of marriage. A lot of property is at stake, including an art collection that is valued around $1 billion dollars. Harry is said to be selling off part of the collection in an effort keep the funds for himself. While most divorcing couples in Pennsylvania are not dealing with assets like those involved in this case, trying to keep assets from property division can cause a whole lot of trouble for the offending spouse.

What does earning capacity have to do with property division?

Those in Pennsylvania who are going through the divorce process simply want to leave their marriages with their fair share of assets, which is a reasonable desire. The definition of fair in such cases, though, is different for everybody. For example, if you are the spouse with a higher earning capacity, you may be granted less in your property division settlement. Is that reasonable? The court and your soon-to-be ex may think so.

Property division in divorce can affect post-divorce finances

The financial impact of going through a divorce can be rather significant if certain steps to protect oneself are not taken. When figuring out a property division settlement, it is not enough just to think about what one is getting; one must also consider the negative consequences that might accompany being awarded certain assets. Pennsylvania residents can turn to legal counsel for help in determining what assets are actually worth pursuing as part of their divorce settlements.

Pennsylvania property division: Divorce and the family business

Divorce does not always just affect your personal life. For those couples in Pennsylvania who own businesses together, dissolving their marriages can have a deep impact their professional lives as well. Figuring out what to do with the business can prolong the property division aspect of divorce, as both parties will likely want to make sure they are doing the right thing for the sake of their company.

Property division in a gray divorce can affect retirement

Since the 1990s, in Pennsylvania and across the country, gray divorce has been on the rise. It is believed that 25 percent of divorces now involve couples who are nearing retirement age. While the dissolution of marriage can be done at any time, when it occurs later in life it can have an extremely negative impact on one's retirement years. For this reason, how the property division aspect of a gray divorce is handled really does matter.

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