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divorce Archives

Divorce and protecting one's credit

Getting a divorce can have a lasting effect on couples in many ways. However, Pennsylvania couples can emerge from a divorce unscathed with regard to their credit if they take certain steps to separate their finances from their spouse.

Getting divorced after age 50

Many Pennsylvania residents who are over the age of 50 decide to get divorced. While there are many different reasons that people choose to do so, people who are older have special factors that they should consider before they decide to go through with their divorce plans.

Divorce and business can be a difficult combination

For couples ending their marriage in Pennsylvania, divorce can be a complicated, fraught and emotional time. This can be accentuated when one or both spouses own a business that is subject to inclusion and division in the divorce. Even beyond its value as a significant financial asset for the marriage, the business can be a central part of one or both partners' professional and personal identities.

Complications of dividing a business in a divorce

Pennsylvania business owners may face additional stress when they get divorced, regardless of whether their spouse was a partner in the business. For many business owners, the company is their greatest asset. Therefore, it's important to get an accurate assessment of its value prior to sitting down at the negotiation table.

Predicting divorce

No one can state without a doubt that certain Pennsylvania couples will get a divorce. However, there are some factors that can be used to predict if a divorce will occur. The age at which couples get married can influence whether they get a divorce. According to research, teenage couples and couples in their mid-30s who get married have a higher chance of divorcing than couples who are in their late 20s or early 30s. Couples who get married when they are teenagers carry a particular high risk of divorce. Couples who get married after the age of 32 will see their risk increase annually by 5 percent.

Online dating can mean fewer divorces, studies say

Pennsylvania couples that meet online and get married might have a lower chance of getting a divorce than people who meet offline. Economics professors at the University of Essex in the United Kingdom and the University of Vienna in Austria report that despite a public perception that online dating fosters only short-term and casual relationships, the opposite might, in fact, be true.

When divorce becomes the only viable option

There may come a time in the life of a Pennsylvania married couple when the civil union that legally binds them together must come to an end. The Consolidated Statutes of the Commonwealth provide three avenues for a dissolution of marriage: mutual consent, fault and irretrievably broken relationships, but these mostly refer to the legal proceedings that should be followed. Before getting to the point of filing for divorce, spouses must come to a certain realization about their marriages no longer healthy.

Splitting retirement assets in a divorce

In 2016, people going through a divorce paid $15,000 on average to complete the process. For some Pennsylvania residents, it may seem tempting to use retirement savings to cover that cost. However, doing so may result in income taxes owed and a 10 percent penalty for an early withdrawal if it is done without an order from a judge.

Law Office of
Katrina Luedtke LLC

Law Office of Katrina Luedtke LLC
43 West Middle Street
Gettysburg, PA 17325

Phone: 717-253-9951
Fax: 717-420-2151
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