Goldman Law Offices - EST.1951
Phone: 215-348-2605
Serving Bucks County and Surrounding Areas
Hablamos EspaƱol

Property Division Archives

Detecting and avoiding financial fraud in a divorce

Pennsylvania residents who are going through a divorce may suspect that their spouse is trying to hide assets. A few red flags that indicate this may be happening include concealing details of financial transactions, unusual withdrawals from bank accounts and rerouting of mail. It may be necessary to hire a forensic accountant in order to detect this financial fraud.

Dividing debts in a divorce can be complicated

Pennsylvania couples whose marriages are ending will likely find that one of the more complicated issues is often property division. They may also come to realize that dividing up debts can be just as stressful. Having some idea of how to split debts before divorce proceedings get under way may simplify the process. Couples contemplating a divorce need to put together a complete picture of their finances before decisions are made.

Protecting assets in the event of a divorce

Many Pennsylvania couples who are planning on getting married opt to negotiate a prenuptial agreement prior to tying the knot. This type of agreement protects separate property in the event that the couple decides to get a divorce later on. However, not all couples chose to sign a prenuptial agreement, and while these agreements are often recommended, there are other ways that individuals can protect their separate assets.

Splitting artwork in a divorce

When an artist creates a painting or any other work of art, he or she may believe that the art belongs to them alone. However, the courts see things differently. According to the law, that artwork must generally be considered as marital property. Therefore, it must be split in an equitable manner when an artist gets divorced.

How to divide insurance policies in a Pennsylvania divorce

When a couple gets divorced, they must decide what they are going to do with any joint insurance policies that they have. For instance, a couple might have been covered under a single health insurance plan. If that is the case, the spouse who is no longer covered may need to get their own coverage through their employer. A spouse may also be entitled to COBRA coverage, which entitles them to the same policy that they had if they pay the entire premium.

Agreements for property division in Pennsylvania divorces

Many married couples separate with intentions to file for divorce, and it might be important for them to come to an agreement for how they plan to divide their assets. The attorneys for each party will write out the agreement for the divorcing spouses to sign after the negotiations are complete. It is a contract between the parties that the court could enforce in the same way as a court order.

Pennsylvania real property and marital division

When people divorce in Pennsylvania, a part of the divorce settlement will include a division of property acquired during the marriage. Most couples jointly own a home, while some own several pieces of real estate. If a home was jointly purchased during the marriage, the spouses are considered to be "tenants in the entirety" of the property sharing equal rights in it.