Experts have learned over the years that every generation is impacted by countrywide or worldwide events and circumstances. The millennial generation is frequently discussed because they are generally different than previous generations. As millennials have married in recent years, Pennsylvania attorneys have seen some changes in how millennials may handle a high asset divorce.
Half a century is a long time to be married, and many in Pennsylvania would speculate that a marriage that lasts that long is strong. One couple in another state is proving that marriages are not always what they seem to be. Because of their significant wealth and disagreement on the value of shared assets, processing their high asset divorce has been a difficult process.
Pennsylvania residents contemplating ending a marriage may fear the pain, turmoil and upheaval of their life as well as the disturbance it may cause for any children or pets. Despite stereotypical cases of hostile high asset divorce cases, many couples achieve amicable separation of their married lives. Certainly, choosing the right family law attorney can help with the process.
In Pennsylvania and across the country, many married couples have disagreements about money. These disputes can get heated when the debts start to accumulate. A recent study suggests that married couples who fight about finances may be at greater risk for divorce, and that can even apply to couples who may be headed for a high asset divorce.
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.