Preparation for Divorce

Originally published in the 422 Business Advisor, and written by Kristen Doleva-Lecher In Major League Baseball, a respectable batting average exceeds .300. For all you non-baseball fans, this means the batter will get a hit a few more than three out of the ten times he’s up to bat. Unfortunately in our society divorce has a higher batting average so to speak — statistically about five out of ten first marriages will end in divorce. The emotional toll of divorce is of … Continued

Financial Tips in Anticipation of Divorce

Originally published in the 422 Business Adviser, and written by Kristen Doleva-Lecher By: Kristen Doleva-Lecher September 28, 2015 Many factors can determine whether a particular person will obtain a relatively good or relatively poor financial outcome after a divorce.  Not all of these factors are in people’s control. Good planning, however, can certainly help make life easier if divorce is being considered. Clients often ask about “legal separation” from their spouses. Pennsylvania does not recognize “legal separation” per se but … Continued

What Is A Marital Asset in Pennsylvania?

Originally published in the 422 Business Adviser, and written by Kristen Doleva-Lecher By: Kristen Doleva-Lecher September 28, 2015 Pennsylvania is an equitable distribution state when it comes to splitting up marital assets in a divorce. Equitable distribution does not mean a 50-50 split but, rather, it mandates a fair division of marital property.  Marital property includes joint assets and joint debts. A marital asset is defined by statute as: “all property acquired by either party during the marriage and the … Continued