Social media has changed our lives over the last couple of decades. It makes it easy for any resident in Pennsylvania to make connections to people on one's street of residence and as far away as another continent. Because of what appears to be happy pictures posted on social media and people typically enjoying their best moments, many might consider social media to only have a positive impact on people's lives. One attorney in another state claims that social media is often a factor in a high asset divorce and therefore might be a negative impact on many people's lives.
There are many things to consider when contemplating a divorce. Individuals often worry about where to live, finances, relationships and custody of children following a high asset divorce. In addition to how a divorce will affect their daily lives and routine, individuals in Pennsylvania must now consider how a divorce will affect their taxes.
Divorces among couples over the age of 50 have increased in the last 20 years in Pennsylvania and across the country. These so-called gray divorces often involve couples who have been married for decades. Among the many issues to consider in a high asset divorce are the possibility of spousal support and the division of retirement funds and other martial assets.
As 2019 rapidly approaches, experts continue to speculate and predict how the new tax laws may affect divorces. Although high asset divorce agreements finalized before 2019 will be grandfathered and allowed to remain under the old standards, the agreements could be affected if any changes arise in the future. In addition, some individuals in Pennsylvania may be surprised to learn that prenuptial and postnuptial agreements could need updating if the laws make some of the agreement terms inadequate.
Viruses and some diseases are contagious, but many people in Pennsylvania may not consider a divorce as something to catch from someone else. Despite what some may think, researchers, believe that there is an increased chance of going through a divorce if an individual has a friend or family member that has also been through the process. Individuals considering a high asset divorce may find comfort in the advice of an experienced family law attorney and the advice of someone who has also experienced hurt and pain.
When a couple decides to legally marry, they most often join households, families, finances and more. As well as the physical joining of their previous separate lives, many couples also join together families, different perspectives on how to live and different processes for handling conflict. Sometimes, the differences that couples merge together are difficult to overcome. Couples considering a high asset divorce in Pennsylvania may be interested to learn that studies show that there may several things that will predict the likelihood of a divorce.
Many children in Pennsylvania aspire to attend college following their high school graduation. While most parents would agree that a college education is a significant benefit to their child's future, it is often difficult to keep it in mind when negotiating a high asset divorce. Because children's college education is often an afterthought during divorce negotiations, many college students of divorced parents often finance the majority of tuition themselves.
The public perception many couples display to friends and family is often not what is happening behind closed doors. Sadly, many couples do not share the love and respect for one another that they may appear to have in front of others, and some couples may determine a divorce is in their best interest. Pennsylvania couples may be interested in one couple's pending high asset divorce and how it may affect a beloved community tradition.
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.
It is has been said, "Money is the root of evil." While some may argue that the statement is not true and may list all the good money can do, it has been documented that it is often the main issue between couples and the number one cause of divorce. Some couples are able to work through financial stress, but when a high asset divorce cannot be avoided, Pennsylvania family law attorneys can help an individual spouse work through the difficult situation.