If you’re divorcing this year, you and your spouse will likely be filing a joint income tax return for the last time. It’s not too early, however, to start thinking about Tax Year 2024 and next year, when you’ll be filing your returns separately (assuming your divorce...
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Divorce
A divorce later in life brings unique challenges for the future
Divorce is never easy, but couples who split after the age of 50 must deal with various challenges they would not have faced at a younger age. The spotlight is on a secure financial future and how best to manage the divorce in order to meet that goal. An overview...
Benefits of certified divorce financial advisors
Pennsylvania divorces can involve complex financial issues. One of the most contentious aspects of many divorce cases involves the division of assets and debts, and many people exit their divorces worse off financially. One way that people might prevent financial...
Tips for divorcing a narcissist
Divorcing a narcissist carries some particular risks, but people in Pennsylvania who are in this situation can also take steps to protect themselves. Narcissists tend to use several different approaches to destablize the other person and try to get their way....
Deciding when a prenuptial agreement can help
Pennsylvania couples planning for marriage should discuss whether to get a prenuptial agreement, particularly if they are business owners. Assets acquired before marriage generally are considered separate property, and assets acquired by either spouse during their...
The economy is making keeping the home easier
Depending on the part of Pennsylvania, real estate can get quite expensive. This makes it difficult for spouses to retain the marital home after the divorce because it will require a large outlay of money. However, one silver lining to the current economic situation...
Financial success after divorce is possible: 2 tips to help
Divorce symbolizes the end of a marriage and the beginning of a new life. Starting a new life without a former spouse may be intimidating, especially when financial obligations that were once shared as a couple are the sole responsibility of a single individual....
The Five Parts of Divorce
Divorce is a confusing process, but with a little help it doesn't have to be. What does it take to get divorces in Pennsylvania? The five parts of divorce are (1) Divorce, (2) Support and Alimony Pendente Lite, (3) Equitable Distribution, (4) Alimony, and (5)...
Mutual Consent Divorce
In our family law practice, our lawyers often address questions and misconceptions regarding how long it takes to obtain a divorce in Pennsylvania. While the answer can be complicated, prospective clients are often trying to find the quickest path to achieve one....
Alimony & Taxes…
The standard rule in Pennsylvania regarding the tax treatment of alimony payments in a divorce is that payments made by the payor are tax deductible and that payments received by the payee constitute taxable income. However, there is an important caveat to this...