The role of money in a divorce

Pennsylvania residents who are married for the first time have a roughly 50/50 chance that it will last forever. The odds of success are lower for second and subsequent marriages. However, there may be compelling financial reasons to avoid a divorce if possible. For instance, married couples who own a home will need to figure out what to do with it. While a person could keep the home, it can be hard to maintain it on one income.

Selling a home may not be ideal either as buyers know that they have the advantage when it comes to negotiating the price. Moving costs and market conditions will also need to be considered when selling a home. There are also costs to consider when it comes to getting professional help in a divorce. Accountants, attorneys and others involved in the matter will all charge for their services. Individuals who choose to represent themselves to save money could make mistakes that have long-term negative consequences.

When two people live in separate households, there are two sets of expenses to pay for. Those expenses may include utilities, food and transportation to work, school or social gatherings. It should be noted that those who are in a physically or emotionally abusive relationship should not feel compelled to stay with a partner for financial reasons.

Prior to ending a marriage, it may be a good idea to meet with a family law attorney. It could help a person learn more about his or her rights as well as how to approach various items during settlement negotiations. If a couple has a prenuptial agreement, an attorney may review it to determine its validity.


FindLaw Network