Category Archives: Divorce
How Are Businesses Appraised During a Divorce?
Pennsylvania is considered an equitable distribution state. That means that assets are divided fairly—not necessarily evenly. All assets that are considered a part of the marital estate are divided between the parties to a divorce. In order to do this fairly, assets, including businesses, must be appraised. The process of valuating a business is… Read More »
Study: Rates of “Gray Divorce” Have Tripled Since 1990
Divorce among those aged 65 and over has tripled since 1990, according to a recent study. In 1990, the rate of divorce among seniors was only 5%. Today, that number has ballooned to 15%, according to the National Center for Family and Marriage Research at Bowling Green State University. Two factors that have led… Read More »
Grounds for Divorce in Pennsylvania
The State of Pennsylvania allows for both fault-based and no-fault grounds for divorce. In other words, the law allows you to blame the other spouse for the breakdown of the marriage, or not. Whether or not you pursue fault-based grounds will depend heavily on your individual circumstances and the potential benefits of doing so…. Read More »
Half of Americans Say “Open Marriages” Are “Unacceptable”
Open marriages, or marriages in which both partners are allowed to freely date other people, are becoming an increasingly attractive option for modern couples. However, attitudes toward open marriages vary widely across the spectrum, and the majority of American couples still aren’t ready to take the plunge into polyamory. According to one study conducted… Read More »
Study Reveals 1 in 4 Divorcees Admit to Hiding Wealth and Assets from Their Partner
A new study conducted in the UK reveals that one in four individuals admit to hiding assets during their divorce. During the divorce process, both parties are required to make a full financial disclosure of their assets. Hiding assets can land them in hot water with the judge. Failure to make a full disclosure… Read More »
What are the Different Types of Alimony in a Pennsylvania Divorce?
Alimony, also known as spousal support, is a type of payment made from one spouse to another to prevent the divorce from completely reducing their standard of living. It is not, however, an automatic entitlement in divorce proceedings. It serves as a way to balance the lower-earning spouse’s finances. When one spouse faces a… Read More »
New Marriage Study Indicates the Best Age to Marry
When most people enter into a marriage, they generally do so under the belief that the marriage will last for the remainder of their life. Today, many individuals are marrying later in life. They assume that they need to have their education behind them and their career well established before walking down the aisle…. Read More »
Tax Implications of Divorce in Pennsylvania
The division of marital property is one of the most crucial aspects of a divorce. The State of Pennsylvania is an equitable distribution state. That means that assets and debts acquired during the marriage are divided fairly, albeit not necessarily evenly. “Fair” is based on several factors such as the length of the marriage,… Read More »
Recent Study Discusses the Incomes of the Newly Divorced: Do They Earn Less Money?
A recent study published by the St. Louis Federal Reserve Bank indicates that married men tend to earn more money than single men and other workers. The study sought out to gauge the impact of divorce on an individual’s labor income. According to the study, although the divorce rate is decreasing over time, there… Read More »
Why Are Women More Likely to Ask for a Divorce Than Men?
In a presentation conducted by the American Sociological Association, researchers reported that women were (by far) more likely to ask for a divorce than their husbands. Non-marital breakups, on the other hand, tended to be more gender-neutral. The results of this finding came from a survey called “How Couples Meet and Stay Together.” The… Read More »