Couples in Pennsylvania who are in need of a financial reset may consider signing a postnuptial agreement. This is a legal contract between marriage partners. It serves to protect assets that are acquired throughout the time that a couple is married. It is kind of like a prenuptial agreement, but it is signed during the marriage.
Going through a divorce, Pennsylvania residents may just want to survive the process and get through it to the other side. The paperwork, evaluations, documentations, discussions and disputes can seem never-ending, and when one is not going through an amicable one, it can be emotionally taxing as well. As a result, people may end up agreeing to terms that are not in their best interest in the long run, just to speed up the process.
Many divorcing couples do not realize that maintaining two separate households after a divorce is very costly. In many instances, the same family income is now being divided to run two residences and pay the bills associated with them. In addition to this, one spouse is inevitably paying spousal and child support, straining finances even more. Thus, it is important to approach divorce proceedings with a clear head and accurate picture of one's finances.
For most couples, marriage represents stability and routine. The end of a marriage brings an upheaval of emotions, finances, and life in general. Embarking upon the unfamiliar route is daunting for most Pennsylvania residents, especially because it is riddled with issues that affect the rest of a person's life. For example, child custody agreements decide where children will spend the majority of their time, while property division awards decide who lives where and gets what. If these issues are not handled properly, the repercussions can reverberate for ages.
No two divorce cases in Pennsylvania are the same. However, many divorce cases involve similar issues that must be addressed by the divorcing couple, despite the differences in factual scenarios. Those issues can involve property division, alimony, child custody and child support, among others.
Many of our readers in Pennsylvania have probably heard the common refrain that half of all marriages in America end in divorce. But, these statistics are hard to pin down. The reality is that no one goes into a marriage thinking that there might be a 50% chance that it won't last. So, what factors might make a divorce less likely?
Everyone who gets married in Pennsylvania is likely to bring their own assets and debts to the 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, while it may also be the case that some people can expect inheritances from relatives which may boost their financial security. Unique assets and debts can quickly become commingled in a marriage.
There are millions of people in America who belong to the so-called "millennial" generation. These individuals, typically categorized as those who were born between 1980 and 2000, have been seen as changing quite a few different aspects of American society, from how we communicate with one another, to how we work and how we form relationships. Technology, it seems, is at the heart of it all.
Pennsylvania residents who are preparing to divorce understandably have quite a few questions and concerns. After all, a divorce can be a life-altering event for most people, putting an end to a relationship that, perhaps, lasted for years. No one gets married with the expectation that the union will end in divorce, so the end of a marriage can be an emotional time often made more complicated by the financial issues that must be addressed during the process.
Some couples in Pennsylvania who are going through a divorce can point to an exact issue or point in time that caused the tension in their relationship, ultimately leading to a split. However, for most couples, the issues that led to a divorce are probably more likely to build over time. This can certainly be the case with financial problems and debt, which can creep up as money issues are not properly addressed.