It can be tough for parents to pay their child support for many reasons, but certain occasions can create special challenges when it comes to child support payments. Likewise, custodial parents who do not receive the child support they are owed may struggle regardless of the time of year, but this can be especially hard during the holiday season. Whether you are obligated to pay support, or you have been awarded child support, it is important to carefully consider these issues during the holidays.
Divorce can be a challenging process for various reasons, from legal issues related to custody or child support to the amount of time one can spend in the courtroom. For some people, divorce can be difficult because it was completely unexpected, and their marital partner filed a divorce petition without discussing the matter beforehand. If your marital partner recently filed for a divorce and you are unsure of what to do next, it is crucial to review your circumstances immediately.
A prenuptial agreement is a legal document that a Pennsylvania couple can use to determine how assets should be handled if their marriage ends in a divorce. While some may be reluctant to talk with their future spouse about completing a prenup, there are many important reasons to do so.
Pennsylvania parents who decide to divorce may be concerned about their kids heading into the new school year. A new academic year can be an exciting and stressful time for families no matter their circumstances, as kids generally look forward to new classes, teachers and friends. However, when children head back to school for the first time since their parents' divorce, additional anxiety could enter the picture, particularly as children get adjusted to traveling between their parents' homes. Parents can take some actions to support their kids during the back-to-school season and throughout the year.
Couples who are going through a divorce or a separation in Westmorland County and surrounding areas and who have children should keep a few things in mind regarding child support. The court must establish the relationship that is present between a child and the parents. The paternity of the child is often the most difficult if there is any question on either side, but a paternity test can be given to determine the correct paternity of the child so that support can be ordered.
When Pennsylvania couples get a divorce, they may have to change their plans for retirement. This means creating a plan to rebuild savings lost in divorce.
Ending a marriage can lead to significant financial and emotional turmoil. Ideally, Pennsylvania residents who are in this position will address the potential financial changes that a divorce can bring head on. This means taking a look at how much money they are making as well as what a person's expenses are after the marriage ends. It can also be worthwhile to account for paying off some or all of joint debt accrued with a former spouse.
Women are typically known for being relationship-oriented and more focused on settling down with a marriage partner than their male counterparts. Although there are plenty of gray areas to this, men are conversely known for their hesitancy with commitment. However, when couples do get married, studies have shown that it is the woman who is more likely to initiate a divorce nearly 70 percent of the time.
Some women in Pennsylvania may want to consider keeping the family home in a divorce. A study by the Center for Retirement Research found that households where no divorce had occurred had a net worth that was 30 percent higher than those where there had been a divorce. The study also found that divorce meant a 5 percent higher likelihood of running out of assets in retirement. However, women who were single and divorced tended to be in the same situation financially as women who never married, and the reason seemed to be because they kept the home.
It can be easy for divorcing spouses in Pennsylvania to make mistakes that cost them money. For some, it is because they have no formal financial education. At a minimum, an individual should create a balance sheet that lists their assets and liabilities. They should also be able to analyze a tax return, and an accountant or other adviser could assist the spouse in doing so.