Category: Property Settlement
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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 to choose between litigation and an agreed upon settlement
Couples who are getting a divorce may hope to reach an agreement on child custody and property division through negotiation. This means that they face a difficult dilemma if those negotiations falter and they are forced to decide between taking a less satisfactory settlement or proceeding to litigation. Litigation can be stressful, time-consuming, and expensive.…
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Consider all assets in the property division process
Individuals contemplating divorce may realize that, as part of the property division process, they will need to make a full accounting of their assets and debts. In their initial thoughts about property division, most people think of their primary assets: their home, bank accounts and vehicles. However, there are many more assets that will be…
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How can you protect a business in a divorce?
Most married couples bring their own assets and debts into their relationship. For example, it is not uncommon these days for people to have thousands of dollars in student loan debt by the age of 22. Conversely, there are times when an inheritance from a relative will unexpectedly boost financial security. These types of unique…
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Points to keep in mind if you are facing a “gray” divorce
Divorce after the age of 50—so-called “gray” divorce—is no longer an attention-getter among friends, family and co-workers. It is much more common now than it was even a decade ago. The issues you face now are going to be different than they would be for a younger person. Here then are five points to keep…
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Getting a fair deal in property division during a divorce
Among the variety of issues that must be addressed in a divorce case in Pennsylvania, property division is the most likely to have a long-term impact on a person’s financial security. After all, for most married couples, working together toward greater financial security is one of the main goals in life, particularly nowadays when both…