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Property Division Archives

A couple of tips may help those headed for divorce

When people decide to marry, they may feel that they and their significant others are matches made in heaven. However, as time progresses and conflicts happen, they may start to second-guess their marriages. Eventually, they may end up pursuing divorce, during which they will have to tackle issues like property division. However, it may behoove them to take a couple of steps to address their relationship issues prior to going the divorce route in Pennsylvania.

Property division: Are wills a concern after a divorce?

Marriage between two people is often described as the joining of two lives. The joining of two individual's lives often involves the merging of bank accounts, debts, real estate property and families. Some individuals may find the negotiations of property division difficult in the divorce process. Once a divorce decree issued, individuals may need additional legal counsel from a skilled Pennsylvania attorney involving important legal documents that may mention a former spouse.

Tax laws can affect propery division negotiations

Following the announcement of the tax law changes that will apply to divorces in 2019 and afterwards, experts expected a rush of couples to process their divorces to take advantage of existing laws. Starting on Jan. 1, 2019, alimony will no longer be tax deductible for the payer and no longer reportable as income by the payee. This led experts to believe that individuals would rush divorces to process in 2018 to avoid negotiations under the new laws. Surprisingly, some attorneys in Pennsylvania and across the country are not seeing an increase in divorce cases. Whether divorces occur in 2018 or 2019, property division is still a difficult part of the process.

Property division: Fairy Tale couple may be headed for divorce

Some Pennsylvania couples appear to share a fairy tale kind of life and love. Unfortunately, some fairy tale marriages end up facing difficult and complicated negotiations for divorce, child support, custody, spousal support and property division. One couple shared such a romantic fairy tale type of love that it became a popular movie, but their marriage may be struggling.

Property division: Do millennials divorce less?

Lawyers in Pennsylvania and across the country are reporting a reduction in the divorce rate. According to statistics, the divorce rate may have lowered as much as 18 percent in the last ten years. When other factors that could inflate the rate are eliminated, the rate is still believed to be as much as eight percent. Although there has been a decrease in divorce, many attorneys report there is an increase in requests for prenuptial agreements, which can assist couples with property division if a divorce occurs.

Student loan payments may be factored into property division

The cost of college and graduate education has risen significantly over the last few decades. With the rise, there has also been the rise of student loan debt, and the cost of higher education makes it difficult for many individuals to avoid it in order to obtain a degree. When individuals take on student loan debt, they typically expect that it will catapult them into a career that will offer financial security, but that is not always the case. A recent study concluded that student loans are likely the culprit of financial stress that occurs prior to some divorces. In Pennsylvania and other states, division of debt is an important part of property division during divorce proceedings.

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.

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