Bankruptcy filings have been dropping across the country since 2005. However, personal bankruptcy filings continue to be helpful for reclaiming financial health in Pennsylvania and elsewhere. Filing bankruptcy may be beneficial in several scenarios.
The impact of a divorce on one's financial situation in Pennsylvania can be huge. Unfortunately, mistakes and failure to prepare may only make this situation worse in both the short term and the long term. A few tips may help with ensuring that the right steps are taken during a divorce proceeding involving property division issues.
When a couple is getting divorced, their friends and family members may naturally try to give them advice. However, this advice has often resulted in many myths, many of which may end up doing more harm than good. A couple of myths, including one related to property division, especially tend to cause problems during divorce proceedings in Pennsylvania.
Going through a marital split-up in Pennsylvania is never a straightforward process. After all, each divorce is different, and no matter how lengthy or short a marriage was, untangling finances and emotions can be a difficult feat. One area that of divorce that often causes conflict is property division.
Marriage does not always work out for a variety of reasons, including irreconcilable differences. In this situation, having a prenuptial agreement on hand can be helpful for determining how property division should be handled as part of the divorce. However, other issues are also important to address in a Pennsylvania prenuptial agreement.