Randi J. Vladimer, P.C.Family Law Attorney Montgomery & Chester County | Divorce2023-10-18T14:38:37Zhttps://www.vladimerlaw.com/feed/atom/WordPress/wp-content/uploads/sites/1203550/2023/04/cropped-site-icon-32x32.jpgOn Behalf of Randi J. Vladimer, P.C.https://www.vladimerlaw.com/?p=473682023-04-25T21:32:10Z2022-08-26T18:35:29ZWays you can get ready for the divorce process
Once you've made the decision to file for divorce, you need to begin gathering the documents that you need and organizing your information so that you're prepared for the process. Here are a few steps to keep in mind so that you don't feel overwhelmed.
Finances
Collect any financial records that you have in order to prepare for your divorce, such as bank statements, tax returns, credit card statements, and income. While you might not need all of the information that you gather, it's better to have more information than not enough.
Post office box
One thing that you might not think about doing is getting a post office box. This is beneficial to have so that you know that you receive important documents in the mail. It's also possible that you could get your mail a little faster since it's at the post office instead of delivered to your home.
Money
Try to put a little money away each week or whenever you receive a paycheck. There will likely be court fees and money that needs to be paid to an attorney if you choose to hire one for the divorce process. You can also save money for moving if you're unable to stay in the home and for emergencies in the event that your spouse tries to lock your bank or credit accounts. An option is to open a new checking or savings account in your name only so that no one else has control. One or two credit cards in your name are an option as well for emergency use.
Before you begin completing the paperwork to file for your divorce, there are a few things that you can do so that you're as prepared as possible.]]>On Behalf of Randi J. Vladimer, P.C.https://www.vladimerlaw.com/?p=473972023-04-25T21:33:39Z2022-08-19T18:35:05ZHow are assets divided during a Pennsylvania divorce?
If you are a Pennsylvania resident about to begin the divorce process, you should become knowledgeable about the rules of asset division. The more familiar you are with them, the better equipped you will be to prepare to negotiate a beneficial divorce settlement.
Common-law standard
In Pennsylvania, property acquired during marriage is considered marital property. As part of the division of property, these assets are divided equitably, which means in a fair and balanced manner, which might not always result in a 50-50 split. The way the division is reached by the judge is through consideration of the investment, financial or otherwise, made by each spouse to the marriage. An example is if one person acted as the stay-at-home spouse to take care of the family and did not contribute financially but contributed by doing the household chores, taking care of the children and supporting their other spouse.
Marital and separate property
In general, most property acquired during marriage is identified as marital property while that acquired before the marriage or agreed to in a prenup is considered separate property. Additionally, any individual gifts or inheritances received during the marriage are also considered separate property. Finally, assets acquired during the marriage but using funds earned before marriage might be considered separate as well.
Defining factors during the division of assets
There are several defining factors that the judge will consider with the goal of creating a fair division. These include:
• How long the marriage lasted
• The age of each spouse
• Each spouse’s ability to support themselves after divorce
• Each spouse’s current income and financial responsibilities
• Expected financial benefits such as pension plans
• Tax liabilities related to the division of property
The division of a couple’s assets during divorce will have a significant impact on their individual lives post-divorce. For this reason, it is important for each spouse to arrive well-prepared for negotiations.]]>On Behalf of Randi J. Vladimer, P.C.https://www.vladimerlaw.com/?p=473792023-04-25T21:35:36Z2022-08-12T20:35:41ZCan you use a reverse mortgage to finalize your divorce settlement?
There are many methods you can use in order to quickly finalize your divorce in Pennsylvania. One of them may be to make use of the equity that you received via a reverse mortgage deal. If you have recourse to this equity, you may be able to use it to your advantage. It can be the key to a fair and balanced settlement.
A reverse mortgage can benefit your settlement
A reverse mortgage represents a method by which an eligible homeowner can gain access to the equity in their homes. This arrangement will allow them to do so without having to go the usual route of obtaining a standard home equity loan. It's a simple and cost-effective way to gain extra equity with less red tape.
Divorce can be a complex and tedious affair at the best of times. The key to getting a good settlement is to make a sober assessment of the assets that are available to you. In most cases, the home you have bought will be in both of your names. This means that it will be the most valuable asset that has to be divided. This is where a reverse mortgage can be of valuable assistance.
Reverse mortgage arrangements can expedite a divorce
A reverse mortgage can save you a great deal of time, energy, and money when it comes to the final asset division. You may be able to use the terms of your reverse mortgage to come to an agreement where one spouse is allowed to remain in the home.
You may also come to an agreement that allows the house to be sold in order for the equity to be divided among both parties. This can put you in a better financial position as you end your marriage and work to rebuild your finances.]]>On Behalf of Randi J. Vladimer, P.C.https://www.vladimerlaw.com/?p=472042022-02-02T11:12:13Z2021-07-14T16:04:23ZMediation: This could be the solution for your case
Mediation has many benefits that you may want to consider if you are going through a tough divorce. You and your spouse may still respect each other but be unable to get past a dispute, and that is okay. This happens to people all the time, and having a third party there to give you more information and guide the conversation can be a great help in resolving that issue.
If a single issue, or a few particularly difficult issues, are keeping you from moving forward with your divorce, mediation could be the solution. If you answer "yes" to these questions, you may want to consider mediation:
Can you and your spouse work together respectfully?
Would you and your spouse be willing to go to mediation to resolve the dispute?
If a resolution is decided upon, would you both be willing to have it made binding?
Are you willing to listen to a mediator's guidance?
Are you willing to negotiate?
What should you expect as you go through mediation?
The mediation process is fairly straightforward. You and your spouse will meet with the mediator. During the meeting, the mediator will set some ground rules. For example, they may ask that you do not interrupt each other and that you are respectful of one another. They may ask that you step outside if you get upset or that you end the session if an argument breaks out. Every mediator is different when setting the rules for the session, so make sure you understand them before you begin.
After that, the mediator will guide your conversation. This helps you stay on track and focus on the dispute that you are trying to deal with. The mediator can help you understand possible solutions as well as how the law may impact your decisions.
Remember, a mediator's job is not to make a decision for you. Instead, they help you understand possibilities and guide the conversation. With a third party present, it is often easier to stay on track and avoid an argument, since they can refocus the conversation if a dispute pulls the talk to a standstill.
Your attorney can talk to you more about mediation if you believe that it may be the right solution for your case. Mediation has the potential to help you resolve your conflicts without ending up in divorce court.]]>On Behalf of Randi J. Vladimer, P.C.https://www.vladimerlaw.com/?p=471162022-02-02T11:15:01Z2021-07-07T16:22:32ZAvoid these mistakes when getting divorced late in life
Gray divorce, or getting divorced later in life, has become increasingly common in Pennsylvania over the last few decades. People who choose to divorce when they are older have several additional issues that they must consider since they are closer to retirement age. Understanding some common mistakes that you should avoid might help you to enjoy a better quality of life afterwards.
Not knowing where your finances stand
Some people who decide to divorce when they are older are unaware of where their finances stand. You should make sure to take a complete inventory of all of your assets, including retirement accounts, bank accounts, investment accounts, real property, business interests, collections, stocks, bonds, and digital currency. It is a good idea for you to inventory your assets before you file for divorce.
It is also a good idea for you to figure out exactly how much both you and your spouse owe. Get copies of your credit reports to see the debts that are owed. For any jointly held debts, try to get your name off of them or pay them in full before your divorce. Do not attempt to hide any assets from your spouse. Doing so is illegal and could result in added expenses and potential sanctions.
Making mistakes with your home and IRA
Some people choose to keep their marital homes when they divorce. However, your income might not be enough to afford your mortgage payments and upkeep. Consider selling your home and splitting the proceeds with your spouse. If your spouse has a retirement account that will be split with you, make sure to use a qualified domestic relations order to properly divide it.
Divorcing after age 50 can involve more complex property division issues than doing so when you are younger. People who are thinking about ending their marriage might want to consult with an experienced family law attorney about the potential impact it might have on their future and their ability to retire.]]>On Behalf of Randi J. Vladimer, P.C.https://www.vladimerlaw.com/?p=471192022-02-02T11:14:15Z2021-06-30T16:22:28ZAsset division in divorce and mistakes to avoid
Although the divorce process is often complicated, divorcing spouses in Pennsylvania should strive to be cautious the entire period. There are so many avoidable mistakes that people make during this period. The process of asset division can be a long one, and you are prone to make mistakes if you let emotions cloud your judgment. Here are some common mistakes that divorcing couples make when dividing their assets.
Lack of professional advise
Some spouses don't involve an attorney when splitting their assets. The importance of having an experienced lawyer to guide you through the murky water of divorce cannot be overemphasized. Sadly, some couples don't involve one early enough.
The onset of divorce means that there are long-term and significant financial issues at stake. Involving a lawyer may help ease some of these complications during the asset division process.
Thinking that all assets are equal
Most people think that because assets have the same dollar value on the day the divorce settlement is finalized, they are equal. What they don't know is that these pieces of property may have a different appreciation or depreciation rates.
Also, such properties may have tax implications. You must note that even when two assets have the same value at the time of evaluation, taxes may make that piece of property worth less or more than it is.
Splitting assets 50/50
This may be surprising, but splitting property in half is not always fair. Consider factors such as liquidity of the assets; some may be more liquid than others. In addition, consider how assets are being taxed and take into account the fact that some properties, such as rental houses, pay ongoing dividends. Each asset has a different value, and over time, these values are bound to change. When splitting assets, you must highlight all these factors before you agree on 50/50.
Divorce is often difficult, but it is even harder to deal with the aftermath of mistakes done when splitting your assets. Remember that your decisions during this period could affect the quality of life you have long after divorce.]]>On Behalf of Randi J. Vladimer, P.C.https://www.vladimerlaw.com/?p=469782022-02-02T11:13:51Z2020-12-17T17:37:09ZWhat can happen when people fail to pay spousal support
Spousal support may be at issue in some Pennsylvania divorces. However, it will not automatically be ordered when it is requested. Instead, courts review several factors to help them determine whether spousal support is appropriate. When a judge orders a spouse to pay spousal support, the court's order can be enforced if the person fails to make the ordered payments.
When is spousal support ordered?
Spousal support is only ordered when a court determines that it is necessary. Judges consider multiple factors when they consider spousal support requests, including the ages of both parties, the length of the marriage, their respective incomes, the tax ramifications, whether a spouse is unable to work because of caring for a young child, and others. If a judge determines that spousal support is appropriate, the court will issue an order specifying the amount that must be paid and the duration of the order.
What happens if a spouse fails to pay court-ordered support?
In some cases, a person who is ordered to pay spousal support refuses to pay the ordered payments. When that happens, the recipient can file a motion for contempt. The court will hold a hearing and may do several things to secure payment of the arrearage, including the following:
• Enter judgment for the arrearage amount.
• Seize the property and profits of the delinquent party to recoup the arrearage.
• Garnish the wages of the delinquent party up to 50%.
• Award interest on the arrearage amount.
• Require collateral to secure future payments.
• Imprison the person for up to six months for civil contempt in cases of willful failure.
• Order the payment of the recipient's court costs and attorney's fees.
When a court orders that a person must pay spousal support, failing to comply with the court's orders can result in contempt proceedings. People who are having trouble making their payments may want to get help with requesting a modification. Those who are owed arrearages may want to talk to an attorney for help with enforcing the order.]]>On Behalf of Randi J. Vladimer, P.C.https://www.vladimerlaw.com/?p=469832023-04-26T20:03:24Z2020-12-10T17:37:06ZCan your spouse seize your business assets during a divorce?
When you file for divorce in Pennsylvania, you may be in for a lengthy court battle. Pennsylvania is an equitable distribution state, meaning that a judge ultimately decides how your property will be divided. In some ways, this can be positive as it means that you do not have to evenly divide every piece of property you own. But it can also result in a long and costly property division process.
How can you protect your business during a divorce?
If your business was formed during the marriage, it will likely be considered marital property during the divorce. This means that your business assets may be divided in court. However, there are ways you can prevent your former spouse from seizing parts of your business.
During the property division process, you can offer your spouse another asset in exchange for letting you keep full control of the company. This asset could be a house, a car or anything else with which your former spouse agrees. If you do not have a lot of cash on hand, you could also agree to make payments to your former spouse over time. It can be expensive, but it is better than handing over your business interests.
Can an attorney help you protect your business?
An attorney may help you protect your business during the divorce proceedings. A lawyer may assist you in negotiating with your spouse and offering another asset in exchange for the company.
If your former spouse insists on taking a share of the business, an attorney may help you figure out the best course of action to take. This may mean selling your shares in the business and buying them back later or simply dissolving the company entirely. You may also be able to protect your business if you signed a legally binding prenuptial agreement.]]>On Behalf of Randi J. Vladimer, P.C.https://www.vladimerlaw.com/?p=469882022-02-02T11:11:56Z2020-12-03T17:37:05ZCredit card debt during divorce
Pennsylvania couples who seek a divorce will need to negotiate how to divide the assets and liabilities incurred during their marriage. One of the areas of debt that many couples will need to deal with is the one resulting from the use of credit cards.
Some couples might choose to use joint credit card accounts. Others might have a primary account holder with their spouse as an authorized user on the account. In a joint account, both people are responsible for paying what is owed, but when someone is an authorized user, only the account holder is truly liable. Being careful about how joint credit card debt is divided during the dissolution of the marriage is important for a person’s future financial health.
The discovery step where both parties provide their lawyers with affidavits of all debts and liabilities so the lawyers can review them and figure out their client’s liability
The negotiation step where lawyers then negotiate on behalf of their clients how assets and liabilities will actually be divided
The court’s acceptance of the negotiated agreement and any additional court-ordered arrangements
What the law states
Pennsylvania law states that people are only responsible for the debt in their name and joint debt incurred, even if they were only an authorized user in the account. However, in some cases a judge might rule that people must pay debt for which they are not originally responsible for.
If you are considering a divorce, it is a good idea to begin planning how to divide credit card debt even before the process begins. This might begin with closing joint cards where no money is owed or by removing authorized users. An attorney can often provide guidance in this regard.]]>On Behalf of Randi J. Vladimer, P.C.https://www.vladimerlaw.com/?p=462912022-02-02T10:59:01Z2020-10-14T05:00:00ZWe can help you get the support you need in a divorce
If you are filing for divorce here in Pennsylvania, one issue with which you may struggle is whether to seek spousal support from your ex. Formerly known as alimony, in our state, it is never a given whether it will be awarded.
The family law courts determine the need for both alimony pendente lite and permanent alimony based on many factors. They include:
Both spouses' ages and their physical, emotional and mental conditions
Their relative earnings and their earning capacities
Both parties' needs and their standard of living during their marriage
The sources of income for both spouses
How long they were married
Whether one spouse's earning capacity was diminished because of their homemaker contributions or their care of minor children
Whether either party committed marital misconduct
Which property, assets and liabilities both parties brought into the marriage
Marriages of particularly long duration and where one spouse stayed home to rear the children and keep up with the house are more likely for a spouse to qualify for permanent alimony than other shorter marriages where both spouses worked.
A far likelier result will be the awarding of alimony pendente lite. This is temporary support that one spouse pays to the other during the pendency of their divorce proceedings. It allows the lower-earning or non-earning spouse to be able to afford the costs associated with the divorce and also to maintain themselves until the divorce is finalized.
As alimony pendente lite is also not a given, your family law attorney will need to petition the court to award it to you based on your need.]]>