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asset division Archives

Know your valuation date

As you work your way through your divorce proceedings in Cranberry Township, there will be several benchmark dates that you will want to be aware of during the process. Like most of those that come to see us here at the Sweeney Law Offices, LLC, you might not consider your valuation date to be one of them. The process of dividing up your marital property between you and your ex-spouse can be complex, and you might think that all you need to know is that whatever either of you earned during the marriage is subject to property division. Yet the date on which your marital property is officially appraised and valued by the court is important for a number of different reasons. 

Addressing your will after your divorce

Asset division can be one of the more contentious aspects of divorce cases in Cranberry Township. Dividing up your marital property with your spouse requires quite a bit of give and take from both of you. Yet at least that ends once your divorce becomes final, right? Not necessarily; there may be other aspects of your life where you will need to address the financial ties that you have to your ex-spouse. One of these is your estate planning. When clients come to us here at the Sweeney Law Offices, LLC asking about this, their main concerns center on updating their wills in order to ensure that their ex-spouses are not inadvertently included in them. While there are indeed reasons to address your estate plans following your divorce, they often differ from what you might guess. 

What are some myths regarding prenups?

Prenuptial agreements are a sticky subject for many couples. Most believe that signing a prenup means that divorce is inevitable, which is hardly the case. In fact, prenups may even strengthen a union since each party knows exactly what to expect when it comes to marital property and financial issues. Business Insider dispels a few of the common myths regarding prenuptial agreements. 

Is my spouse hiding assets?

Asset division is one of the most contentious aspects of divorce. Some spouses even attempt to conceal certain assets so they won't be included during the division process. While this practice is highly unethical and even illegal, it can be difficult to locate hidden assets so they can be divided in a just and fair manner. If you're concerned that your spouse is hiding assets, Forbes offers the following tips.

How can you divide up your 401k in a divorce?

When making a mental inventory of the assets you expect to be included in your property division proceedings in Cranberry Township, you likely failed to include your 401k. Remember that the money used to fund your 401k comes largely from your income, which makes any contributions made to your account during your marriage subject to property division. Yet how can you share assets from your 401k with your ex-spouse without having to deal with those hefty early withdrawal penalties? 

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Sweeney Law Offices, LLC
20581 Route 19, Suite 1
Cranberry Township, PA 16066

Phone: 724-742-2590
Fax: 724-742-4409
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