May, 2012 | Pennsylvania Family Law Blog - The Law Offices of Sheryl R. Rentz Archive

How the New Marriage of Mark Zuckerberg, Founder of Facebook, May Affect His Assets in a Divorce

By Sheryl Rentz on May 30, 2012

Mark Zuckerberg, the infamous founder of the popular social networking site Facebook, married his college sweetheart on May 19 in a backyard ceremony in California. The timing of the nuptials has raised some eyebrows, however, as the wedding happened a day after Facebook went public, and some are wondering if this had anything to do with the terms of a prenuptial agreement or if Zuckerberg was looking to clarify his net worth (estimated at $17 billion), according to The New York Times. Regardless of the actual reasons for the timing of the wedding, matrimonial law experts are clear that whatever the Facebook founder earned before marriage is still his property afterward.

The state of California follows community property laws, which specifically outline how property is divided between two spouses in the event of a divorce, and the general rule states that anything that was a spouse’s property before marriage is considered separate. This “property” can include things like dividends from previously owned stock or rent collected from an income-producing property owned before marriage. After a pair is married, anything either spouse acquires or earns is considered community property. Read the rest »

Why Mediation May Be the Future in Family Law

By Sheryl Rentz on May 22, 2012

Mediation is a form of alternative dispute resolution which aims to assist two parties in reaching a formal legal agreement. Though mediation was at first slow to catch on in the state of Pennsylvania, this type of dispute resolution provides an effective way to handle cases that fosters healthier communication between the parties involved. Mediation is growing as an alternative practice to things like standard litigation or arbitration because it allows parties to make their own decisions and assist in creating an agreement. The Pennsylvania Council of Mediators notes that mediation is based on the belief that “the parties themselves are best able to define the issues and generate options leading to a solution that responds to their own needs.”

To illustrate the benefits of mediation, consider divorce and child custody matters, which typically involve parties whose communication may have greatly diminished and may have become very negative by the time the specific matter reaches litigation. Mediators can assist the parties in changing the tone of their interaction and communication to enable them to make constructive and positive decisions for themselves and their family. The process of mediation allows clients to take ownership of these important decisions and have a say in the resolutions, instead of walking away from the judicial process feeling that their personal issues were decided exclusively by a third party. Read the rest »

How Technology Has Made It More Difficult to Hide Money from your Spouse

By Sheryl Rentz on May 11, 2012

An unfortunate part of marriage is the deceit that occurs when a twosome hides money from one another, either to splurge on extramarital mischief or simply to keep from sharing it in the event of a divorce. According to a report in The Wall Street Journal, electronic discovery has made the hiding of monetary assets much harder for a deceiving spouse or partner to do. Financial mischief is a very common problem in relationships, and a survey conducted by the National Endowment for Financial Education shows 31 percent of U.S. adults who combined assets with a partner or spouse say they have been dishonest about money. More than half of the adults surveyed say they hide cash from their significant other.

With financial deceit being such a common part of unions, electronic discovery, or the use of technology to uncover hidden assets, can help a person unearth any wrongdoing. A part of the reason electronic discovery is increasingly popular is because more people are using technology to hide assets to begin with. Spouses or partners who may be suspicious of their loved one’s activities can investigate their social networking accounts or their web viewing history to find signs of a hidden business deal or bank account. In addition, forensic experts and divorce attorneys are now using advanced search tools to swiftly analyze things such as credit card bills or online bank statements. Read the rest »

Sheryl R. Rentz Explains the Difference between Community and Separate Property in a Divorce

By Sheryl Rentz on May 3, 2012

Throughout the divorce process, a number of issues are sure to arise that need to be resolved before the final divorce settlement agreement is signed, such as spousal support or child custody. Family law attorney Sheryl R. Rentz has extensive experience aiding divorcing couples and understands the importance of efficiently handling any and all divorce-related issues with skill and compassion. One of the primary issues in a divorce is the division of property, and there are two different types of property for twosomes to be aware of and understand: community property and separate property. The following is essential information on each.

Community Property

An essential matter in a divorce is how to split up community property assets, which are everything that spouses own together. Pennsylvania is not a community property state, however, which means as an equitable distribution state all property acquired during the marriage, regardless of whose name it is in, is part of the marital estate and is subject to equitable distribution in a divorce. To fairly divide the assets, the court takes into consideration several different factors. Read the rest »