If you are a married Pennsylvania resident contemplating divorce, you probably are wondering how assets accumulated during a marriage are allocated during a divorce. FindLaw explains that while Pennsylvania is not a community property state, whatever property you and your spouse acquired during your marriage, including all money earned by each of you, is considered to be marital property. This property, however, is not necessarily owned jointly by you and your spouse, nor will it necessarily be divided equally between you and your spouse when you divorce.
Pennsylvanian residents who go into a divorce are likely not expecting to unearth hidden assets that their spouse has been keeping away from them. Unfortunately, this is the reality that some people may face.
Pennsylvania residents who get divorced will also have to worry about the division of retirement plans and the potential financial burdens that go hand-in-hand with that. This becomes more disruptive the older a divorcing couple is, though it can naturally affect anyone's retirement plans at any age.
Many in Pennsylvania and across the nation know that those who have divorced parents are more likely to divorce themselves. A new study says this could be due to genetics rather than repeating the behavior seen by parents.
When a couple cannot live together, marriage is much more difficult, and if this is because one spouse is in a Pennsylvania prison, divorce may feel more complicated. Getting a divorce with one spouse in prison depends on many factors, including which spouse is initiating the divorce.
Pennsylvania residents like you who have a large number of assets may find yourself facing unique hurdles during your divorce. There are more things you have to consider, and more steps that you have to take to ensure that your assets are protected.
Many Pennsylvania couples who decide to divorce have a lot to consider: who gets the house? Where will the kids be staying? What some of these couples fail to adequately address is, what happens to the retirement savings?
Certainly no man or woman in Pennsylvania gets married with the hope or thought that they might someday get divorced. The disappointment and heartache that can accompany the end of a marriage is reasonable and to be expected. However, that does not mean that you have to let your divorce become an emotionally disturbing event for you or for your children. There are things you can do to support positive emotional health and relationships for all of you during this type of transition.
Divorce has a profound impact on both your emotions and finances. While you are likely prepared to divide physical property such as the house and car, have you thought about your retirement assets? If you have not yet prepared, it is time to get smart about your retirement plans.
Work is a large part of most people's lives, and couples across Pennsylvania know that the career path they choose can impact other parts of their lives, including their marriages. A recent study used data from the U.S. Census Bureau to measure which jobs had the highest divorce rates for people by age 30.