Blog
- Life after divorce: How to gain financial independence
Jan 31, 2025
Divorce can be a disheartening and unnerving change, primarily if you’ve relied on your spouse for money for a long time. But you can gain independence and financial freedom with the proper steps and help. Here’s how you can work through this part of your life after divorce. Understand your legal rights In Pennsylvania, the equitable distribution of marital assets ensures a fair property division, which may not always be precisely 50/50 but will still...Read More - Understanding the difference between spousal support and alimony
Jan 17, 2025
Navigating the complexities of divorce can be challenging, especially regarding financial arrangements like spousal support and alimony. Both terms often appear in discussions about divorce settlements, but they serve different purposes and have distinct legal implications. Understanding these differences can help you better prepare for the financial aspects of divorce proceedings. Spousal support vs alimony Spousal support and alimony, while related, have key differences. In Pennsylvania, spousal support refers to payments made to a spouse...Read More - Can my spouse claim part of my pension if we divorce?
Jan 10, 2025
Your pension might be the biggest asset you own after your home. Many people worry about losing part of their retirement savings during a divorce. Here’s what you need to know about the pension division in Pennsylvania. What makes a pension marital property? In Pennsylvania, the money you put into your pension during marriage becomes marital property. This means your spouse has a right to claim part of it. But here’s the good news: Any...Read More - Why should you establish paternity?
Jan 10, 2025
Establishing paternity helps both parents and children by clarifying their legal rights and responsibilities. Paternity ensures that a child’s emotional, financial, and medical needs are met and sets clear expectations for both parents. Protecting a child’s rights Paternity gives children essential rights, such as financial support, inheritance, and health insurance. It also allows children to connect with their biological father and learn about their family’s medical history, which can be important for their health. Clarifying...Read More - Divorce: Not just an ending, but also a beginning
Dec 23, 2024
Divorce ends a marriage but also starts a new part of your life. Seeing both sides of the divorce process can help you handle the process well and prepare for what comes next. Starting fresh Divorce can help you grow and learn about yourself. You can reshape your life and follow new dreams. Use this time to: Find yourself again: Think about what you like, love and want. Knowing yourself better can help you build...Read More - How does a special needs child affect divorce proceedings?
Dec 13, 2024
Divorces involving a special needs child require extra care and attention. Courts prioritize the child’s well-being when determining custody and support arrangements, considering their unique needs. Custody considerations When deciding custody, the court evaluates what arrangement serves the child’s best interests. For special needs children, this often includes looking at each parent’s ability to provide medical care, attend therapy appointments, and support their educational needs. Consistency and stability are important factors, as these can significantly...Read More - What are the tax consequences of alimony payments post-divorce?
Dec 12, 2024
Alimony, or spousal support, can impact taxes for both the paying and receiving parties. Understanding the current and past tax rules helps individuals avoid surprises after a divorce. Alimony tax rules after 2019 The federal Tax Cuts and Jobs Act (TCJA) significantly changed how alimony is taxed. For divorce agreements finalized after December 31, 2018, alimony payments are no longer tax-deductible for the payer. Similarly, recipients do not have to report alimony as taxable income...Read More - Protect your future: A pre-divorce financial checklist
Dec 6, 2024
Divorce is among life’s most challenging moments, often leaving someone uncertain about their path forward. The emotional toll of ending your marriage can overshadow the practical aspects, such as your financial situation. However, taking control of your finances now is crucial in protecting your path forward. While every divorce is unique and presents different challenges, certain steps can help you gain clarity on your financial situation and plan for the future. Whether you are in...Read More - Should you date before your divorce is final?
Nov 25, 2024
Going through a divorce can be an emotionally taxing experience. You might find yourself yearning for companionship. But is it wise to start dating before your divorce is final? This question has no one-size-fits-all answer, as the decision depends on various factors. Understanding the potential impacts and benefits of dating during this transitional period is crucial. How dating could impact your divorce Dating before your divorce is final could have implications, including: Legal complications: In...Read More - How does gray divorce affect family relationships and finances?
Nov 7, 2024
The number of divorces involving people over the age of 50, often called “gray divorce,” has been increasing in recent years. This trend has unique effects on family relationships and the financial future of those involved. Understanding these impacts can help older adults navigate this challenging life event. Family relationships face new challenges Gray divorce can significantly affect family dynamics, particularly in relationships with adult children. Older couples who separate may experience tension within the...Read More