Pennsylvania Divorce & Finances
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UPDATED: Mar 3, 2020
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Working out the division of property, assets and debts is one of the major tasks that must be accomplished during the course of a divorce. Separating out joint finances can be a real headache. How will you divide property? What are the tax consequences? Will there be estate planning consequences that need to be worked out? Does one spouse need to be supported by the other, and if so, for how long? Following are laws specific to Pennsylvania Divorce and Finances.
Pennsylvania Property Division/Community Property/Debts:
Pennsylvania is an equitable distribution state. This system is also called common law or marital property. For an explanation of community property rules and the division of property in community property states, see Dividing Up Property in a Divorce: Community Property vs. Equitable Distribution.
Pennsylvania Spousal Support:
Spousal support, called alimony in Pennsylvania, is a regular amount of money that a court of law orders a person to pay to their partner after a divorce. Whenever the court issues a decree for the dissolution of marriage (a divorce), the court may also issue an order at that time that either the husband or wife pay support of the other spouse. Alimony may only be ordered in Pennsylvania if the court finds that it is necessary.
This amount and the length of time it will be paid are determined by the court based upon factors such as the financial situations and earning capacities of the parties, including expectations of future inheritances. Marital misconduct will not be considered in the award of alimony, but the abuse of one spouse by the other will be considered.
You may need a lawyer to help you deal with the financial aspects of your divorce if you and your ex cannot agree. You can find a lawyer at:
Pennsylvania Divorce/Child Support/Child Custody Lawyers:
Find an experienced Pennsylvania Divorce Attorney at AttorneyPages.com
Find an experienced Pennsylvania Child Support/Custody Lawyer at AttorneyPages.com
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