Divorce usually involves some sort of property division. But splitting up your assets does not automatically include retirement plans. Even if your spouse has a significant retirement account, you do not get a fair share of it without asking the court for a qualified domestic relations order.
If you are a victim of domestic violence, or if you believe you or your children are in physical danger because of someone in your life, you may be able to seek protection via a Pennsylvania Protection From Abuse order. Essentially, a PFA outlines guidelines your abuser must follow for a predetermined amount of time, and these guidelines may dictate any number of matters.
Every aspect of divorce tends to be unpleasant, and the financial cost is no exception. However, just as there are things you can do to make your divorce go more smoothly, there are factors you can control to make your divorce less expensive.
When you think of divorce, the image that probably pops into your mind is that of two hostile people battling it out in court. While this certainly is a common scenario, it is not the only way in which you can get a divorce.
Dividing property and money during divorce can be daunting. You must not forget about the proceeds of your retirement plan. Your retirement account may hold a significant amount of wealth. Separating your retirement funds requires careful consideration and a unique process of obtaining a qualified domestic relations order (QDRO).
A strong, successful marriage is often based on mutual trust, and once that trust starts to dissipate, it can be hard to find it again. If you have lost trust in your spouse and believe that he or she may be trying to conceal assets ahead of an upcoming divorce, performing your due diligence can help ensure you get your fair share when the day comes.
As the divorce process gets closer, you likely have concerns about property division and how you can protect your assets. After all, nobody wants to see their hard-earned assets go away. Carefully identifying, characterizing and valuing your marital property is key to ensuring you remain financially stable throughout the process.