Social media has become the new town square. It’s where people meet, mingle and exchange news and views with friends, family, neighbors, acquaintances and even complete strangers.
When you are getting divorced, your focus may be drawn to your largest and most significant assets. You might be very concerned about what will happen with this property in the divorce, and what this will mean for your future.
Child support payments are a primary concern for divorcing parents as the income used to maintain one household will now be used to finance two homes. Child support is a source of income for many families; the funds are used to pay for basic necessities such as food and clothing. However, child support is meant to cover a broad range of expenses not necessarily factored in to the basic calculation.
Historically, the female population in America has been marginalized when it comes to the gender inequality of income. This includes divorced women. It certainly takes great courage to walk out of a marriage that is toxic and unresponsive to any type of help. However, neither do you want to be at a crippling financial disadvantage when there are ways to prevent this before a divorce is finalized.
Divorce can cause significant upheaval to your life in the present, but it can also have lasting implications on your future. While it’s logical to consider the immediate financial impact of divorce, it’s smart to be aware of how it will affect your retirement as well.
Considering a divorce in Pennsylvania? This is not a community property state. There are guidelines you should be aware of for dividing marital assets with Pennsylvania’s equitable distribution law.