August 16, 2017. Mt. Lebanon, Pennsylvania
Are you separated or are you considering separating from your husband or wife? If you are, then please be advised that there is a lot at stake when you separate and begin the divorce process. Often, the longer you’ve been married the more complicated the marital asset issues are. Your right to a share of the marital assets may not be as simple as “50/50”. Sometimes Courts will award more than 50% to the spouse in the financially weaker position; in other words, the Court could craft that award to help the financially weaker spouse transition to the future and if you are the financially weaker spouse, then you need an experienced attorney at your side. An experienced attorney will help you attain an outcome to help put you in the best possible position to succeed financially in your life after marriage.
When you consider the monetary value of the marriage, you cannot limit your analysis to merely your and your spouse’s base salaries and the bank accounts. You must also consider retirement savings, bonuses, perks, stock options and other financial assets. If there is a marital residence, then you have to create a monthly living expense budget and determine if you can afford to keep the marital home; sometimes keeping the home is a feasible option and other times it is a bad option.
You also should review your health insurance needs. If you are unemployed, then your ability to stay-on your spouse’s work based health insurance policy will end when the Court grants the divorce. To that end, you must develop a strategy for obtaining affordable post-marriage health insurance coverage.
If your children are young, then you will need an experienced attorney to develop a workable custody agreement that does not overly burden you or your children. If your children are older and not in need of a custody agreement, then your divorce could impact your child’s potential inheritance. You may need to update your estate plan to reflect those changes so that your post-death wishes are fulfilled.
My office is available to answer your toughest and most troubling questions and we can help you chart a course through your difficult time. Please call us today at 412-341-3889 or send us an email through our website at www.sembratlaw.com to schedule a free consultation today.