Category: Prenuptial Agreements
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Do separate bank accounts make property division easier?
No. Keeping a bank account in your own name does not, by itself, keep that money out of a Pennsylvania divorce. Under 23 Pa.C.S. § 3501(b), property either spouse acquires during the marriage is presumed to be marital property regardless of whose name is on the title. What matters is when and how the money…
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How does a prenuptial agreement protect a business?
The division of property in a divorce proceeding can be made much simpler by a prenuptial agreement. Business owners in particular may benefit from entering into prenuptial agreements prior to marriage, as it allows them to protect their privately owned businesses from being unfairly divided in Equitable Distribution. Determining which party retains ownership of the…