The joys and rewards children often bring to family life are many. Like most Pennsylvania parents, you're likely very proud of your children and never hesitate to show their latest pictures to friends and family or laud their efforts and achievements at school or on a sports team. When you decided the time had come to tell your kids you were getting divorced, you worried about how they'd take the news.
Going into business with your spouse may have seemed like the ideal arrangement. You may have shared ideas, goals and successes and felt that it brought you closer together. Of course, every relationship -- business or personal -- can have its own set of issues, and when those issues collide, it may prove difficult to keep one or both of those relationships going. As a result, you may now face divorce.
Divorce is the end of your marriage, but it can also be the onset of many significant financial changes in your life. You will have to divide marital property, distribute jointly held debt and settle matters related to spousal and child support. Divorce will not only bring immediate financial changes to your life, it can also bring long-term changes to your plans for down the road.
It's not uncommon for Pennsylvania residents -- who are parents and happen to divorce -- to have to pay child support. Most good parents are quite willing to contribute financially to their own children's temporal and future care, even if they no longer wish to be in a marriage to the children's other parent. If you're a custodial parent facing a serious problem with a former spouse who refuses to adhere to an existing court order, you'll be glad to know there are resources available to help you.
When you got married, you likely felt an immense love for your spouse. Though you may have only imagined a wonderful future together, you may have developed a fear of your spouse over time. He or she may have had a hair-trigger temper and even caused you to fear that you could suffer physical harm because of his or her actions. As a result, you felt that ending the relationship acted in your best interests.
Divorce is an emotionally and financially challenging process, and you may have valid concerns about your financial future after this process is complete. Pennsylvania individuals facing a high-asset divorce know that it could be quite complicated to navigate the issues pertaining their valuable assets and other property, especially when the two parties are at odds over property division.
Many Pennsylvania residents are the proud owners of their own businesses. Whether you started your business before or after walking down the aisle, there are things that you can do to protect your company from the ravages of divorce -- if that ever enters the picture.
The decision to divorce is one that will certainly impact the youngest members of the family. While the end of a marriage will affect the children, it is possible to provide them with an environment and schedule that allows for emotional security and continuity of lifestyle, even long after a divorce is final.
As part of your employment, you may have received the benefit of having a 401(k) retirement account. You may have found this benefit comforting as you invested money in your financial security during retirement. However, because you now face divorce, you may wonder what will happen to this account during asset division proceedings.
Pennsylvania has one of the lowest divorce rates of any state in the nation. According to Statistic Brain, a medium dedicated to provide accurate and timely statistics for public benefit, Pennsylvania’s divorce rate sits around 9.2 percent – the sixth-lowest in the country – compared to nationwide highs of roughly 13 percent in Maine and Oklahoma (and 14 percent in Nevada, though that’s something of a special case).