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divorce Archives

How to value a company in a divorce

For those who get divorced in Pennsylvania and throughout the country, their company could be their biggest asset. Therefore, it is important to know how much it is worth to ensure that a fair settlement can be reached when dividing it at the end of the marriage. Knowing how much the company is worth can also be useful if one person has to buy out the other as part of a settlement.

How to make financial plans for divorce

People in Pennsylvania who are getting a divorce might wonder how they can prepare financially. A first step is to gather copies of as many financial documents as possible. If a person anticipates the divorce becoming contentious, it may be a good idea to put these somewhere safe such as with a loved one or in a safe deposit box.

How mediation may help resolve divorce issues

Pennsylvania couples who are getting a divorce may try to resolve property division and child custody arrangements through mediation instead of litigation. In mediation, a neutral third party attempts to assist the other parties to resolve conflict and reach an agreement that is satisfactory to both of them.

How to protect finances during a divorce

Pennsylvania residents are no strangers to the emotional anguish that comes with the dissolution of a marriage. Although divorce tends to be a desperate last resort for unhappy couples, it is still very strenuous for everyone involved, especially if there are kids involved.

Military divorce rate much higher for women

The divorce rate for people in the military in Pennsylvania and across the United States has remained approximately the same for four years. In fiscal year 2017, the rate hovered between 3 percent and 3.1 percent, as it has since 2013. Throughout the year, around 21,290 servicemembers received a divorce; this number comes out of the 689,060 members of the armed forces who are currently married. The data was released in March 2018 by the Department of Defense.

How and why to make a divorce plan while married

Some Pennsylvania couples who are getting married might want to consider a prenuptial agreement. Divorce may be far from their mind, but they can think of it as a safety precaution. Married couples can create a postnuptial agreement. Both documents lay out plans for how property will be divided in a divorce, and the first one can also identify assets and debts the couple bring into the marriage that they want to keep separate.

Organization of financial records essential for divorce process

Divorce requires a division of marital assets in Pennsylvania, and both spouses must disclose their financial records as part of the process. Because divorces among older people have become increasingly common, many people pursuing divorce could have multiple assets and retirement savings accounts to consider. To begin, people should make a list of all accounts and assets, including inherited funds. Inherited funds could be exempt from property division, but the issue could be complicated if the money went into a joint account with the spouse.

Careful planning makes post-divorce transitions easier

Pennsylvania couples should know that getting the final decree signed by their presiding divorces judge is almost, but not quite, the end of the process. Typically, the court order describes the manner in which marital assets are to be divided, but it is up to the parties to finalize the process. This means couples ready to separate must work together on one last project to get across the divorce finish line.

Revenge hurts kids and parents in divorce court

Pennsylvania parents dealing with the emotional fallout of a failed marriage may be tempted to use the justice system as a tool to gain revenge seek revenge against their spouse. Hurt feelings can make the idea of hurting someone with a public outing of misdeeds seem attractive in the moment, but attempting to do so is generally an expensive mistake that costs much more than money.

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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