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October 2016 Archives

Obama works to pass rules for inmate child support orders

For many parents who are incarcerated in Pennsylvania, child support obligations are a major issue. Since people who are in prison make very little money, many of them leave prison facing thousands of dollars in back child support debt. As a part of criminal justice reform, the Obama administration is working to finalize rules that would help to prevent inmates from leaving prison with astronomical child support debt.

5 factors to consider in your prenup

Once, prenuptial agreements were considered only for the ultra-rich. Today, prenups are more popular than ever. In a 2013 survey released by the American Academy of Matrimonial Lawyers, 63 percent of divorce lawyers are experiencing an increase in prenuptial agreements. One key finding in the survey indicated that more women were initiating requests for this type of agreement. Men aren't the only ones who wish to protect their property and assets when coming into a marriage. What's driving this trend? President of AAML suggests that it's because the financial and real estate markets improve. Another reason is that couples are waiting longer to get married, bringing more resources into the relationship. Deciding whether you need a prenup isn't always easy, but here are a few factors you should consider.

Financial considerations before marriage and divorce

Most Pennsylvania couples who are newly married or planning to get married aren't thinking about divorce. However, it happens to almost half of all new couples. A divorce can easily become an emotional and financial nightmare for those who are unprepared. Getting a relatively clean split from a partner happens with proper preparation and communication. Most of that preparation should happen before even tying the knot.

Who gets the home in a divorce

A home can be one of the more expensive assets that has to be allocated in a divorce. It is preferable that Pennsylvania residents who are undergoing a divorce are able to reach an agreement about what happens to the home. Otherwise, the judge will decide after considering a number of different factors.

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