For those who are married, entering retirement may seem relatively straightforward, as the couple can simply share in the assets they have accumulated together over the years. Meanwhile, for those going through divorce, the situation is a bit more complex. Not only must they complete equitable property division in Pennsylvania, but they should be aware of how Social Security benefits are handled for divorced couples.
Personal bankruptcy can lead to financial freedom
Consumers in Pennsylvania typically do not enter adulthood with the expectation of filing for bankruptcy. However, sometimes, filing for personal bankruptcy is necessary for those whose liabilities end up outweighing their assets. A few tips may help with determining whether filing for bankruptcy is appropriate in one's situation.
Refinancing may help one who keeps home after property division
One of the biggest areas of contention for divorcing couples in Pennsylvania is what to do with the family home. In some cases involving property division, a spouse decides to keep the home, while the other spouse keeps more of the rest of the assets instead. For the spouse who keeps the house, refinancing might be a wise move following the divorce proceeding.
Property division may involve splitting of IRA, 401(k)
For those going through a marital split-up, one of the biggest concerns may be retirement. This is particularly true for those getting divorced near retirement age in Pennsylvania. A couple of tips may help with navigating property division when addressing the retirement funds in a 401(k) and/or IRA.
