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.
You feel like you have a strong marriage. You and your spouse have been together for 10 years. While it hasn't been perfect -- what marriage is? -- you assume it is going to last.
A recent study looked at the percentage of people in every state who were married, and it found that Pennsylvania is very close to the middle of the pack. The married population sits at 48.2 percent. That ranks the state at No. 31 overall.
A contested divorce sounds like one spouse asks for a divorce and the other contests it, perhaps trying to block the divorce from taking place. However, that's not what it means under modern divorce laws. With the shift to no-fault divorce, no one has to prove that the legal split is needed, and it's far easier to get a divorce than it may have been in the past.
If you ask most divorcing spouses, they will have several reasons why they decided to bring their marital union to a close. Some spouses might not be entirely clear about what happened -- they just know that it's time for them to move on. If you take a poll of Pennsylvania divorce and family law attorneys, they'll also be able to give you a long list of the reasons why marriages end.
Getting a divorce is emotionally difficult enough, but to add the excessive costs and complexities of the legal proceedings into the mix, it's enough to cause any divorcing spouse to feel overwhelmed. Fortunately, for couples who choose to mediate their divorces, they'll be able to prevent a lot of stress, while saving a tremendous amount of money and time in the process.
Most Pennsylvania spouses decide to get a divorce after a lot of careful consideration. However, there are a few circumstances in which a spouse shouldn't waste time. If you're currently experiencing one of the following situations in your marriage, you should not wait before submitting your divorce papers:
Not all spouses are entirely honest with one other, especially when it comes to money. In fact, your seemingly honest and upfront husband or wife could be hiding hundreds of thousands of dollars in a secret bank or investment account. For this reason, if you have any suspicions that your soon-to-be ex is hiding assets in your divorce, you may want to try the following three strategies for uncovering hidden money in a divorce:
Imagine you have a thriving professional practice. You might work as a doctor, dentist, carpenter, mechanic, plumber, air conditioner technician or psychologist. If you plan to get married, you run the risk of losing full ownership of your business in the unlikely event that you get a divorce. Even if you don't believe divorce is possible in your future, you might want to consider drafting a prenuptial agreement to protect your business interests just in case.
If you do a quick scan of the internet when searching for the phrase "gray divorce," you'll find that people tend to focus on the negative side of gray divorce. They talk about the financial hit divorcees will experience when they go their separate ways right before or during retirement, and the loneliness experienced by 50-plus singles who spent most of their adult lives with a spouse by their side. However, it's vital that you keep a positive perspective and look for the silver lining.