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Property Division Archives

Retirement, property division and the true cost of divorce

Divorce is a stressful process, and sometimes, a person may be tempted to allow his or her temporary emotions to drive decision-making. However, temporary emotions are rarely indicative of what is actually beneficial for the future, and Pennsylvania readers facing the prospect of divorce would be wise to think about their long-term interests. This is particularly important when negotiating property division settlements and addressing retirement accounts.

Property division issues re divorce best handled by an attorney

Entering into a marriage is a big decision. Although most couples imagine growing old together, almost half of all marriages end in divorce. Because it is most often an emotional and painful process there are many mistakes that spouses make when negotiating the details of property division and divorce terms.  Pennsylvania couples considering a divorce may be interested in some tips of mistakes to avoid when getting a divorce.

Property division can be difficult during a gray divorce

In Pennsylvania and across the country, a 'gray divorce' is one where a couple the age of 50 ends their marriage. Statistics indicate that it is the only age group in which divorces are increasing. Because many couples over the age of 50 have been married for many years, property division and other aspects of a separation can prove to be difficult and typically require the help of a skilled family law attorney.

Nonworking spouses need to prepare for property division

Reasons differ for every family unit, but many families still choose to leave the workforce when children are born. The most common spouse to stay at home still is the mother. When a couple begins having marital problems and a divorce is on the horizon, property division concerns can seem overwhelming for a nonworking spouse. A Pennsylvania family law attorney can help anyone considering a divorce protect finances prior to officially filing in court.

Property division: Car sawed in half 30 years ago

When most Pennsylvania couples marry, they merge lives, property, wealth and begin to acquire more property together. Couples that have divorced can likely attest that property division is often one of the most difficult aspects of the entire process. Decades ago, half a car appeared on the side of the road in another state with a sign on it, making it appear as if the owner's former spouse got the other half of the vehicle.

Disputes over family pets become part of property division

Pennsylvania couples going through a divorce have to make a staggering number of decisions. Aside from child custody, which is the primary issue for couples with minor children, property division comes in a close second. Determining how to divvy up marital assets and household goods can take up a large percentage of divorce negotiations. For some, disputes over who should keep the family pet(s) become something of a hybrid between a custody fight and property division issue. 

Property division: Retirment accounts require expertise to split

Many Pennsylvania couples who are divorcing may face legal battles over their retirement accounts. The battle is often significant because a couple's retirement account or accounts often reflect their largest financial nest egg. Any individual approaching divorce and beginning property division negotiations will want to make sure he or she has secured the right family law attorney to ensure a smooth and penalty-free transfer of retirement assets.

Shaving mug collection is contentious property division dispute

No matter how long a couple has been married, a divorce is always a possibility. Typically, the longer a couple is married, the more complicated property division can be. One couple has 70 years of property, wealth and emotion to untangle between the two of them following their divorce. Pennsylvania couples contemplating divorce will likely be interested in one of the elderly couple's current disputes.

For millennials, property division is a part of wedding planning

Family law attorneys report that more and more young people are coming in for prenups prior to tying the knot. These young couples are serious about their commitment but also incredibly levelheaded about matters of financial responsibility and the risk of property division. Very often, drafting a prenup is simply another part of the wedding preparation checklist, for couples in Pennsylvania or elsewhere.

Understanding the role of debt in property division

When most Pennsylvania residents consider the division of marital wealth, they think about assets such as investments and real estate. It's important to understand that property division encompasses not only assets, but also debt. Failing to properly consider how debt can impact the property division process can yield unfavorable outcomes for certain spouses.

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