keeps, it cannot be denied that the truth remains and there are times when one is left with no choice but to accept the fact that there are relationships that are just not meant to last a lifetime. Divorce and legal separation became the options for the people who are dealing with marriage difficulties and there are even newer options that emerged like uncontested divorce Pennsylvania or no fault divorce online that aim to simplify the process and the things that it involves.
One of the subjects that often lead to battle between divorcing couples is asset or property division and usually it does not really matter whether the amount being discussed is big or small. Upon the filing of divorce, the court requests equitable distribution of properties while disregarding the marital misconducts that were committed. The division of property is based on relevant factors which include the following:
Length of years the couple stayed married
Any prior marriage for both parties
Amount and sources of income
Age factor
Health condition
Employability
Estate and liabilities
Contribution of one spouse to the education and training of the other for enhanced earning power.
Contribution of each party involved in the process of acquisition, preservation, depreciation and appreciation of the marital property's value while taking into consideration one's role as a homemaker.
Added sources of income like insurance, health and retirement benefits
Value of property set apart to each party
Lifestyle or the standard of living followed while married
Economic factors involving federal, state and local tax implications at the time property division takes effect.
The party's role in serving as the custodian of any dependent minor children
There are factors that play a significant role when distributing the properties of divorcing couples. The divorce process may really get so complicated and gaining some relevant knowledge about the things that matter like assets and properties will really help in making sure that you will be able to keep yourself aware and adequately informed of the facts that will help ensure the protection and preservation of rights for both parties.
One of the subjects that often lead to battle between divorcing couples is asset or property division and usually it does not really matter whether the amount being discussed is big or small. Upon the filing of divorce, the court requests equitable distribution of properties while disregarding the marital misconducts that were committed. The division of property is based on relevant factors which include the following:
Length of years the couple stayed married
Any prior marriage for both parties
Amount and sources of income
Age factor
Health condition
Employability
Estate and liabilities
Contribution of one spouse to the education and training of the other for enhanced earning power.
Contribution of each party involved in the process of acquisition, preservation, depreciation and appreciation of the marital property's value while taking into consideration one's role as a homemaker.
Added sources of income like insurance, health and retirement benefits
Value of property set apart to each party
Lifestyle or the standard of living followed while married
Economic factors involving federal, state and local tax implications at the time property division takes effect.
The party's role in serving as the custodian of any dependent minor children
There are factors that play a significant role when distributing the properties of divorcing couples. The divorce process may really get so complicated and gaining some relevant knowledge about the things that matter like assets and properties will really help in making sure that you will be able to keep yourself aware and adequately informed of the facts that will help ensure the protection and preservation of rights for both parties.
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