Pennsylvania is one of the few states that still categorizes divorces as either fault or no fault. An at fault divorce places blame squarely on one of the parties, while a no fault divorce places no legal blame on either party. In a no fault divorce, if both spouses agree that the marriage is irretrievably broken, a divorce complaint can be filed and after 90 days the divorce can proceed and become finalized. If one of the parties does not consent, however, the parties must be separated for a period of two years before the divorce can go through.
With more than half of all marriages ending in divorce, many couples in Pennsylvania and across America are currently experiencing what it feels like to become separated from a marital union. The divorce process is certainly not ‘one size fits all.’ While some people struggle with financial, parenting and employment issues following a separation, others may have a smoother transition. Nevertheless, it is crucial that people understand what is really important when it comes to letting go of material objects and unnecessary stress and starting a new life.
You and your spouse may have been fairly equal wage earners throughout your marriage in Scranton, Pennsylvania, but typically, income tends to be one sided during a relationship. If you are planning a divorce and you are not the person whose paychecks are the primary support the household, you may be concerned about how your finances will fare during the process. Even collaborative high asset divorces often require expensive professionals such as mediators, therapists, financial experts and attorneys.
More than half of all marriages in Pennsylvania and throughout the country end in divorce, according to statistics from the Centers for Disease Control and Prevention. A number of these marriages involve high net worth couples, who are often faced with a different set of challenges when attempting to split up marital property and assets. For instance, couples who are joint business owners may find it difficult to continue running their business after going through a divorce.
There are a wide variety of life experiences that can have a tremendous financial impact on Americans, such as paying for a child's college tuition and struggling with long-term unemployment. However, for people who are facing a high asset divorce, there are many important factors to take into consideration. At Kalinoski Law Offices P.C., we are committed to helping people in Scranton and other cities in Pennsylvania minimize the possible financial consequences of splitting up with their spouse.
For any couple going through divorce, there may be a plethora of legal hurdles and other challenges (such as emotional issues) that make life complicated. However, in Scranton, and across Pennsylvania, those who are involved in a high-asset divorce may be particularly stressed out. After all, daily life for a high-profile couple can be tricky, but with complex asset division, retirement plans and other matters (such as an offshore account), some people are overwhelmed when it comes to separating from their spouse. At Kalinoski Law Offices P.C., we are committed to simplifying the divorce process for our high-profile clients and understand the potential obstacles they may face.
Did you know that Pennsylvania courts have an "equitable distribution" model to help couples fairly split their marital property? Although this model purports to be fair, some clients are surprised to learn that it does not require the equal division of property. That is, "equitable distribution" may mean that you get less than half of the value of your marital property. Protect your financial and legal interests by understanding the law in Pennsylvania -- and enlisting the help of an attorney with knowledge about complex asset division.