When divorcing, among the many types of assets that Pennsylvania residents may be splitting are retirement accounts. However, when dividing up retirement assets, some special care may be required in order to avoid paying high taxes or early withdrawal fees. Depending on the type of account being split, a qualified domestic relations order may be needed.
Divorcing couples in Media are typically encouraged to reach an amicable agreement regarding the dissolution of their marriages. If they are able to do so, they may be able to avoid having their proceedings heard in court, thus shortening the time needed to resolve their issues and formally end their marriages. However, any accords made in a separation agreement achieved through collaboration become legally binding once that agreement is signed. Any attempts by either side to not fulfill individual obligations could result in their case spilling back into a courtroom.
When a Pennsylvania couple with children decides to divorce, it is important to make sure a child is supported, emotionally and financially, by both of his or her parents. As the Lebanon Daily News reports, if one parent has primary custody of the child, the other is expected to provide financial compensation to help cover the costs of raising the child.