Family Legal Center, LLC
Comprehensive Collaborative, Probate and Estate Planning Services.
Call us at : 412-843-0957
Menu Contact

High asset divorce: Attorneys can help with asset division

Some people may be able to improve their financial status by getting married. Unfortunately, the opposite is often not true. The divisions of assets, liabilities, income and expenses are often contested in a high asset divorce. Many couples considering a divorce find the advice of a Pennsylvania family law attorney invaluable when planning their financial future beyond a divorce.

Assets can be diversified, making it complicated for an individual to understand the best solution for a division. Couples often share cash, savings, bonds, investments, retirement accounts, mutual funds, real estate properties and more. Not all assets are equal as far as tax implications, which can make a division unfair if not divided correctly. Debt is also considered in the division, but different debts are handled differently, and spouses can sometimes remain responsible if the other spouse fails to pay a debt.

In addition to dividing assets, some divorcing couples become stressed planning for a financial future beyond a divorce. Although income may not change, expenses most often double, reducing the amount of livable income. Spouses typically go from living in one house with one set of maintenance costs to two homes and double the maintenance costs. In addition, one spouse may be ordered to pay spousal or child support, limiting their individual livable income.

Understandably, any high asset divorce is difficult. In addition to financial stress, there is a large amount of emotion and pain involved. When children are involved, the complication increases. Pennsylvania family law attorneys understand the sensitive nature of a divorce, the logistics that need to be determined and the pain that accompanies it.

No Comments

Leave a comment
Comment Information

How Can We Help You?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

email us for a response

4372 Old William Penn Highway
Monroeville, PA 15146

Toll Free: 877-855-1067
Phone: 412-843-0957
Fax: 412-824-0707
Monroeville Law Office Map