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property division Archives

Property division involving retirement funds can be tricky

An increasing number of married couples are deciding to call it quits near retirement age. After all, by this stage of their lives, their children no longer live with them, so child custody is not an issue. However, the main issue is whether the divorce process, which involves property division, will prevent them from being financially prepared for their golden years in Pennsylvania.

Property division steps may need to be taken after divorce, too

Navigating a marital breakup in Pennsylvania can certainly be emotionally trying, but it can be just as challenging financially. After all, divorce is essentially a process that untangles two lives that have become intertwined with each other perhaps over the course of years or even decades. However, the hard work that comes with divorce, such as facilitating fair property division, does not stop once the divorce has been finalized. A couple of essential steps are important to take after the breakup is final, too.

Dogs treated as assets during property division

Man's best friend can clearly add value to the lives of a married couple's lives, so understandably, the couple may be at odds about who gets to keep the dog following a divorce. In family court, dogs are treated as assets during the property division process in Pennsylvania. However, the spouses can decide how they want to handle the ownership of such an asset, in a manner that satisfies both sides.

Property division, support payments require attention in divorce

A marital breakup can understandably be challenging to navigate. For this reason, finally coming to an agreement on matters such as property division and achieving a divorce settlement is a major reason to celebrate. However, a few moves are important to make even after the divorce has been finalized in Pennsylvania.

Mistakes at trial may affect property division outcome

Going through divorce may be one of the most difficult experiences a person may deal with in life. The process essentially involves pulling apart two lives that have become heavily intertwined from both a financial and an emotional standpoint. For instance, property division may involve deciding what to do about the marital home to which both parties have become attached, or determining how to split retirement assets. Unfortunately, a couple of common mistakes made at divorce trial may make the process even more difficult in Pennsylvania.

Gathering data ahead of time may help with property division

Ending a marriage in Pennsylvania can understandably be challenging for both emotional and financial reasons. Not knowing where to start and what steps to take long term only add to the stress of going through a divorce. However, a few tips may help with navigating the financial aspect of divorce, especially when it comes to property division.

Property division involving expensive artwork can spark conflict

Dissolving a marriage in Pennsylvania can be tough financially and emotionally. But the financial aspect can be even more complicated for a couple with high-value assets in the form of artwork. From a legal standpoint, however, property division involving expensive art is not much different from dividing a more modest couple's pots and pans.

Inheritance money can complicate property division

A marital breakup can cause both emotional and financial disarray. One of the most common sources of conflict during a divorce proceeding in Pennsylvania is property division. This is particularly true if one of the spouses has inheritance funds.

Couples divorce, tackle property division at different times

In some marriages in Pennsylvania, couples have irreconcilable differences that eventually drive them to get divorced. Just as every marital situation is different, the times that couples choose to get divorced also differ. In fact, the season of the year may have an impact on a couple's choice to move forward with divorce and tackle potentially contentious issues such as property division.

Property division and Social Security laws affect retirement

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.

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