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.
Pennsylvania spouses who have a mortgage loan and are getting a divorce will need to investigate strategies for dealing with the mortgage. For example, will one spouse assume the mortgage in his or her own name? Will the spouse who keeps the home need to refinance? These and other questions will need to be answered as a part of the divorce process.
Some people were made for marriage. They love stability, they like to spend time with their significant other and predictability and security bring them joy. Other people were not made for marriage -- they are too self-focused, have money problems and they're just bad at relationships.
Pennsylvania ex-spouses who had to pay alimony have long benefited from the ability to deduct alimony expenses from their net income. This benefit made alimony payments a lot more palatable -- especially when payments served to drop the payer down to a lower tax bracket. With the new federal tax bill passed by Congress last month, however, the ability to deduct alimony payments from income is going to end.
Couples eligible for uncontested divorce in Pennsylvania usually need to have resolved and agreed upon most basic issues relating to their divorces -- like property division, child custody, child support and spousal support.
Pennsylvania spouses considering divorce need to know a few things before they get started. First, divorce is normal. Approximately 40 to 50 percent of all marriages end in divorce in the United States according to the U.S. Centers for Disease Control and Prevention and the American Psychological Association. Second, divorce is never going to be "easy."
You and your spouse are finally getting the divorce you've been thinking about for years. Now it's time to get real about your finances. Being single is often more difficult financially than being in a partnership. After all, you will only have one income and many of the expenses you used to be able to share will be your sole responsibility. These expenses and financial setbacks can be particularly difficult for women.