When you get a divorce in Pennsylvania, you and your ex will have to find a way to split your assets -- or ask the courts to do it on your behalf. However, it can be very difficult to secure a fair outcome in a divorce if your spouse has hidden assets from you and...
Divorced couples may still work together at a family business
Starting a family business feels different than finding a business partner. You brainstorm over dinner. You put in work together on the weekends. You didn’t draft a partnership agreement of any kind. The business just feels like an extension of your marriage and your...
Why the courts issue a QDRO as part of the asset division process
One of the most important roles the family courts play in a Pennsylvania divorce is managing the division of the assets that the couple shares. The courts will have the authority to split your assets or even order their sale, depending on the assets your family...
Can your ex get your trust fund?
When your parents passed away, they set up a trust fund for you. It contains an incredible amount of wealth -- enough that you never have to work again if you don’t want to. You do still run your own business because you like to stay busy and you have professional...
Does ‘your’ money remain yours in a Pennsylvania divorce?
Spouse A brings home a good paycheck. Spouse B does, too. And instead of creating one joint account, they decide to keep their funds separate and just use their apps to send each other money for things like the mortgage payment, utilities or groceries. After all,...
Consider a postnuptial agreement when your spouse goes into business
Sharing your life with someone else can be an exciting prospect -- but what happens when you and your spouse don’t see eye-to-eye about your debts? Money is often a source of conflict in marriages, especially when one spouse is a “spender” and the other is a “saver.”...
Disagreements over money lead to divorce
They say money cannot buy happiness, and there may be something to it. In fact, divorce experts note that it’s one of the leading causes of divorce in the United States. Much of the time, it’s just because two people do not agree on how they should spend, save or use...
Children and low-conflict divorce
For kids, divorce is something that they may never see coming. Maybe you and your spouse kept your troubles hidden from them. While this is a smart move in many regards, it can make the divorce more jarring. They thought your marriage was fine. Then, one day, it’s all...
Familiarize yourself with family business finances
Family businesses often have unique operating structures. When they're operated by spouses, the arrangement may involve one party taking control of the finances of the company while the other handles day-to-day operations or creative work. If the marriage devolves,...
Divorce doesn’t automatically cut you out of debt obligations
If you get divorced, it is important to divide debt in the same way that you divide assets. You need to split things up with your ex so that the lenders eventually get what they are owed. However, do not assume that a divorce agreement alone gets you out of the...