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September 2015 Archives

The role of the forensic accountant in a divorce

Pennsylvania residents who are going a through a divorce know that the entire process can be very emotional, delicate and complicated. Negotiating child support, child custody, alimony and the division of assets can be stressful, and even more so when the couple is wealthy with a large portfolio of assets. In these cases, a forensic accountant might be brought in.

Financial ramifications of a divorce

Going through a divorce can be emotionally difficult for many Pennsylvania couples, but it can also greatly impact both parties' financial situations. Part of this can be due to alimony and child support payments, but the majority of the change is from now-separate living expenses, including housing, utilities and groceries. Because of these additional expenses, alimony and child support may not cover all of the recipient's needs. The payer can also suffer because this reduces available funds for other expenses.

Man facing civil contempt in divorce case

Pennsylvania couples who are going through a divorce and who are struggling with property division issues might be interested in knowing about a case that is wending its way through the New York court system. The man in that case is facing civil contempt for refusing to tell the court where money from the sale of marital property that took place during his divorce proceeding went.

Equitable distribution rules in Pennsylvania divorces

Many people believe that marital property is divided equally when a couple decides to divorce. States that divide marital assets in this way are known as community property states, but Pennsylvania follows what are called equitable property distribution rules. There are only nine states, located mainly in the western part of the country, that follow community property rules. Equitable distribution has been adopted in most states because it allows judges to make fairer decisions based on a number of factors.

Same-sex divorce coming to Pennsylvania

With the June 2015 Supreme Court ruling enabling same-sex couples to marry across the country, same-sex divorce is inevitable. In the majority of these situations, the divorce process will proceed in the same way as any other divorce cases, especially if the couple has signed a pre- or post-nuptial agreement. Many experts advise these for any couple to prevent any type of confusion during the divorce process, despite the fact that most couples believe that they will never split up.

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