When a Pennsylvania couple makes the decision to legally separate, either amicably or contentiously, they may get defensive and anxious about the divorce settlement. Sometimes this can lead people into attempting to hide money or other financials from their spouse. If a person suspects their partner has hidden or is trying to hide assets or money during negotiations for the divorce settlement, he or she may question how to best approach the problem and recover the missing funds.
As the baby boomer population begins to reach retirement age, the next few decades will continue to show an increasing number of aging citizens that will require financial support of some kind. Some Pennsylvania spouses may not consider retirement accounts and investments when determining their divorce settlement. This form of financial support may be important for couples to consider while they are determining their divorce settlement to ensure their ability to retire and help provide security for the future.
Putting the words divorce and taxes into the same sentence may make some Pennsylvania residents cringe. However, taxes are an important consideration when negotiating a divorce settlement. The parties may have been living apart for months, but according to the IRS, as long as no final decree has been filed, a couple is still married for tax purposes.
No matter who brings up the subject, both parties to a divorce are going to have many issues to deal with before it's all said and done. Anyone in Pennsylvania that is getting a divorce may benefit from making some preparations before going to court or starting divorce settlement negotiations. Then there are some preparations that can be made during the process.
Most everyone in Pennsylvania knows that it is virtually impossible for anyone to be completely neutral. Judges and mediators do their best, but each person's bias is always there under the surface. When mediating a divorce settlement, some mediators will attempt to steer the parties toward the outcome they believe would happen if the couple went to court. Other mediators work hard not to think about what would happen if the couple was in court and let the couple direct the process.