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Understanding Equitable Distribution

The division of marital assets and debt is a part of every divorce. The state of Pennsylvania applies “equitable distribution” to this process. While the term may seem to imply “equal” or 50/50 distribution, that is actually not the case. Equitable distribution involves assigning assets and debt fairly based on any number of contributing factors including how long the marriage lasted,  » Read More

Divorce and Life Insurance Policies

Many married couples purchase life insurance policies to protect themselves and their children in the face of an untimely passing. Having a life insurance policy can give people some assurances by providing for the family’s financial interests should a disaster occur.

Whenever there is a major change in a family’s circumstances, the life insurance policy may need to be revised or a new one initiated.  » Read More

FAFSA Tips for Students of Divorced Parents

Applying for college is stressful enough, but putting together a financial plan to cover the cost of college can be even more taxing. The Free Application for Federal Student Aid (FAFSA) application is usually the first step in the financial plan for a college education. Students are considered for federal funding that is based on their parents’ income and assets in relation to their debt and dependents ratio.  » Read More

Social Media Can Impact Divorce Proceedings

The evolution of social media has created a constant flow of information from countless sources, and this trend shows no signs of slowing down. People are always posting, tweeting, and texting; many without a thought as to the consequences of their actions.

Individuals who are going through divorce proceedings should realize that sharing information on Facebook,  » Read More

New Tax Law and Alimony

Tax laws are constantly in flux. However, one that has been in place for three-quarters of a century changed as of 2019. Specifically, it is the law governing federal tax and alimony. The difference in the way alimony is treated could have a significant impact for some divorcing couples. If nothing else, it will redefine the way that alimony is discussed during all divorces,  » Read More

Social Security and Gray Divorce

The term “gray divorce” refers to the trend of couples ending their marriages later in life, and after a lengthy marriage. In fact, baby boomers are divorcing at a rate higher than any other age group. According to Pew Research, the divorce rate of baby boomers has nearly doubled since 1990. This can be attributed to a number of different factors.  » Read More