Scranton residents who go through divorce often worry about how their financial health will survive their marital splits. When couples separate and only one partner worked outside of the home, the working spouse may find him or herself paying support while the nonworking spouse struggles to find gainful employment. The partners to a divorce may struggle to find a healthy balance of dividing assets between them so that each has a fresh financial start after their marriage has ended.
Deciding to end a marriage is not an easy decision and there are many issues that need to be resolved before a divorcing couple can put an end to their legal relationship. One of the issues that may be the root of a divorce dispute is asset division. Couples tend to accumulate a lot of property during the course of their marriage, including art, as discussed in the previous post on the Scranton Divorce Law Blog, and determining which property was procured at which point is essential to the property division process.
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.
Pennsylvania couples who are working through high-asset divorce scenarios may realize that some property division questions are very difficult to answer. This is particularly true for business owners or people who own large holdings within a business they operate. One Oklahoma man is now facing the possibility of losing control of Continental Resources, an oil production company, simply because of a quirk in the marital property laws in that state.
Would you live in the same home as your ex during a contentious divorce? Although many Pennsylvania residents might balk at such a proposal, television star and entrepreneur Bethenny Frankel had been living with her ex for more than a year after filing for divorce in late 2012. Now, though, it appears that Frankel has finally made the move into her own abode, at least part-time. News reports show that the well-to-do Frankel has rented an apartment near the family home so she can spend one-on-one time with her daughter.
Two of the nation's top celebrities have finally called it quits, as Josh Brolin and Diane Lane's divorce was finalized. Like many Pennsylvania couples, the pair was dealing with a high asset divorce, thanks to their nearly decade-long marriage in the spotlight. Lane has reportedly chosen to avoid seeking spousal support in the matter, even though she might have been entitled to a higher percentage of the couple's asset division. The couple split because of irreconcilable differences.