Younger individuals today are waiting until they are older to marry, and in the meantime, they are accumulating large amounts of wealth in many cases. In other cases, they are accumulating large amounts of debt. For these reasons, it is a good idea for people in Pennsylvania to create prenuptial agreements before they get married in the event that divorce is inevitable for them down the road.
The process of breaking up with a spouse can certainly have a major impact on an individual emotionally. However, divorce can be just as impactful on the individual's personal finances, especially if he or she happens to be a parent. For this reason, becoming familiar with one's finances is critical prior to seeking a divorce in Pennsylvania.
According to experts, married couples have an estimated 39% chance of getting divorced in the United States. Unfortunately, divorce can be devastating both financially and emotionally. Here is a glimpse at seven mistakes that can quickly impact one's finances during a Pennsylvania divorce.
One of the top reasons people get divorced is money. This is because finances and stress usually go together, and this issue can affect financially struggling couples and wealthy couples alike. Here is a glimpse at two money-related problems that commonly drive wedges between Pennsylvania couples and spark divorce proceedings.
Keeping a marriage together is no easy feat, especially when a marriage is built on a not-so-sturdy foundation in the first place. In many cases, two people who are married simply cannot make their marriage work, so their only option is to get a divorce. Research shows that couples in Pennsylvania and elsewhere end their marriages for a wide range of reasons, from a lack of dedication to domestic violence.
Experiencing a marital dissolution can be traumatic for the entire family. However, approaching the divorce process circumspectly can make it easier for divorcing adults and their children to deal with the ins and outs of the process. Here are a couple of wise moves that people in Pennsylvania may want to make if they are considering divorce.
When people go through marital breakups, an area of confusion and contention may be the division of assets. This is particularly the case if one party has amassed a large amount of money in a 401(k) through his or her company. Here is a glimpse at how divorce courts divide these type of defined contribution plans in Pennsylvania.
The majority of United States laborers qualify for retirement benefits from Social Security. However, many individuals who have gotten divorced in Pennsylvania and elsewhere are unaware of how this can affect their Social Security benefit collection process. Let's take a glimpse at some key considerations regarding collecting benefits from Social Security post divorce.
When two people decide to end their marriage, spousal support may quickly become a source of contention between them. One party may be worried about having to pay too much in spousal support, whereas the other may be concerned about not receiving enough support. Here is a look at how the courts in Pennsylvania address spousal support during divorce.
The dissolution of a marriage can no doubt have a major impact on an individual's life and emotional well-being. For this reason, some individuals may look down on the idea of starting a brand-new career while going through the divorce process. However, jumping into a new job field may be a wise move for some divorcing spouses in Pennsylvania.