Any Pennsylvania couple that has been divorced can attest to the fact that there are a plethora of issues to be dealt with. It's easy to bypass an issue like federal income taxes when there are so many other issues that require more immediate attention. However, in a high-asset divorce, the subject of federal income taxes needs to make the list and may even determine when a divorce is finalized.
Pennsylvania divorce: the financial impact of divorce
There are probably many couples in Pennsylvania who can attest to the fact that ending a marriage may be one of the more emotional things they will ever do in their lifetime. When a couple does decide to divorce, thoughts about the future are usually limited to getting through the divorce process , visitation schedules and who gets what assets. However, there are other considerations that couples may want to make sure they at least consider when negotiating the divorce settlement.
Pennsylvania couples can continue business ownership after divorce
Statistics show that approximately 65 percent of all businesses are owned by family, and 30 percent of those family businesses are run by spouses. Odds are that there are a good percentage of couples in Pennsylvania who are in business together. Should the couple get divorced, there is no reason why business ownership has to change.
High-income spouses in Pennsylvania find example in Judd case
When celebrities divorce, there are often highly publicized conflicts, discussions of prenuptial agreements and a large amount of overall attention to the case. In many cases, couples who are not celebrities can experience the same challenges and difficulties in divorce, only without the media hype. When it comes to high-income spouses in Pennsylvania, divorce does not discriminate. One of the most recent celebrity divorce cases to spark interest is that of actress and activist Ashley Judd, and her husband, champion car racer Dario Franchitti. After 11 years of marriage, the highly publicized couple has decided to end their relationship in divorce, which is said to be a mutual decision. Both spouses have had extremely successful careers, both before and after they got married.
Divorce rates in Pennsylvania among lowest in the nation
Most Pennsylvania readers are probably aware that about 50 percent of marriages in our country end in divorce. In fact, people are increasingly reluctant to get married because of the potential consequences of divorce, according to a study by a leading university. Current divorce trends in the United States may offer some insight as to why so many people are afraid to get married and why people who are currently married may seek a divorce.
Pennsylvania divorce may affect sale of real estate holdings
Divorce often leads to the sale of some marital property, particularly if the couple own real estate together. However, the divorce process may create some problems when it comes to successfully selling real estate holdings, particularly if the split is acrimonious. Each spouse may want to work with a different agent or have different ideas about how to sell. Pennsylvania couples who are ending their marriage may wish to be proactive and learn about the process of selling real estate when a divorce is in progress.
Pennsylvania parents - focus on children in divorce to ease change
In Pennsylvania, high-asset couples, celebrity or otherwise, may find tensions mount when the words separation or divorce are raised. In some cases, however, especially those in which children are involved, couples can choose to be amicable and keep the focus on the. By doing so during a separation, the processes of determining who-gets-what should high asset divorce become imminent may be smoothed and less demanding.
Wise aging Pennsylvania couples;Prepare for high asset divorce
No one wants to discuss the possibility of a divorce, especially when a couple is happily married. However, recent statistics have shown that, despite the overall divorce rate remaining stable, the divorce rate amongst older couples in Pennsylvania and elsewhere is rising. Further studies have also shown that another uptick in divorce rates for older couples' divorce rates may be on the horizon. This trend underscores the possibility that many couples may be subject to a high asset divorce later in life and, as a result, may need to take precautionary methods early on to ensure that they are protected in the long term.
Some in Philadelphia muse: Facebook IPO means more divorce
Facebook has been blamed as a contributing cause in divorces in recent years due to spouses flirting or cheating using the online service. Now, there are some in Pennsylvania and elsewhere who think an association with the social network may cause divorces in a different way.
