Pennsylvania Family Law Blog – The Law Offices of Sheryl R. Rentz
Complications Surrounding Arnold Schwarzenegger, Maria Shriver Separation
Recently, Arnold Schwarzenegger and Maria Shriver announced their separation after 25 years of marriage, following Schwarzenegger’s admission that he had a child with his former housekeeper 10 years ago, reports The Huffington Post.
While it remains to be seen whether the couple will divorce, several questions have been raised, including whether or not there was a pre-nuptial agreement before their union. The couple’s net worth is valued at over $500 million, and under California law, assets acquired during their marriage would be split 50-50, meaning Shriver stands to gain at least $200 million if they divorce. Read the rest »
New Census Data Finds Divorce in U.S. Declining, But “Seven-Year Itch” Persists
Recently released data from the Census Bureau shows that divorces in the United States have leveled off slightly after decades of increase, with couples now somewhat more likely to reach 10 years of marriage. However, the “seven-year itch,” the trend of couples divorcing after seven years of marriage, was found to have carried on, reports ABC News. The new data finds that almost one out of every two first marriages is estimated to end in divorce, with about 46 percent of marriages not lasting until their 25th wedding anniversary.
The data is based upon the most recent figures from the Survey of Income and Program Participation, conducted by the Census Bureau, which surveyed 55,497 adults who have been or are married. According to the data, about 75 percent of people who have been married since 1990 reported they had been married for 10 years, which is an increase of about three percent for people who were married in the 1980s, when divorce rates peaked in the U.S. Divorce rates were the highest in the 1960s and 1970s, after laws were passed that made it easier to divorce. Read the rest »
Why Pennsylvania Couples Should Consider a Pre-Marital Agreement
A pre-marital agreement in Pennsylvania is a contract that clarifies what will happen to certain assets and what each party may or may not receive in the event of a divorce. Although many people shy away from pre-marital agreements; which are often referred to as pre-nuptial agreements or prenups; making such an agreement doesn’t mean you love your partner any less. A recent Huffington Post article offered several reasons why you and your partner or future spouse should consider entering into a Pennsylvania pre-marital agreement, including:
- Getting to know how your spouse handles money. From a business perspective, a marriage is about combining your assets with another person’s – much like partners who go into business together. Just like business partners, you and your partner can learn a great deal about what matters and how you each handle money by talking through money matters you want (or do not want) to cover in a prenup. Read the rest »
What are Maintenance Payments in Pennsylvania and Who Receives Them?
Spousal maintenance payments, also known as alimony, are payments that a spouse who made most or all of the couple’s income makes to the other spouse, who made little or none of the couple’s income. Temporary maintenance payments are intended to help a party who has little education or job prospects live until they can complete an education or find a job.
Not all divorces in Pennsylvania will include maintenance payments. In cases where both parties are employed or have a good education, the court may not order maintenance payments, instead allowing each party to go on living on their own wages. Read the rest »
If You Own a Business in Pennsylvania, Consider a Pre-Marital Agreement before Marriage
Forbes featured an article recently discussing how divorce can complicate ownership of a business, especially if the business’ value increased during the marriage. This value will typically be included in the marital assets that will need to be divided between former spouses after a business valuation in Pennsylvania is conducted. However, there are a few steps a person can take to protect the business during the divorce if they consider the business to be their separate property or if they have a greater stake in the business and may avoid having a business valuation be necessary.
Separate and marital property can be extremely complicated, but usually, one person will be entitled to a certain percentage of the other person’s business, despite whether they directly contributed to growing it or not. One of the most advantageous steps a person can take to protect their business during their divorce is to already have a pre-marital agreement in place before the marriage starts. In the agreement, details regarding both peoples’ property rights as well as other expectations would be described if the need to divorce arises. Read the rest »
Contentious Divorce Between Frank and Jamie McCourt Leaves Fate of the Los Angeles Dodgers in Question
The divorce between Frank and Jamie McCourt involves not only millions of dollars, seven homes, and large demands of spousal support, but also the ownership of the Los Angeles Dodgers, one of the most famous baseball teams in the United States. The couple has been married for 30 years.
According to The Telegraph, Jamie McCourt alleges she is a co-owner of the Dodgers and disagrees with Frank McCourt’s claim that she signed her rights away to the baseball team in exchange for the seven homes owned by the couple. In addition to half the share in the team she also wants close to $1 million a month in spousal support to maintain her lifestyle, and also wants Frank McCourt to pay $568,000 a month on the mortgages on their homes. She is also asking for $9 million to pay for her accountants and divorce attorneys. Jamie McCourt is also demanding 24-hour security at the homes as well as unlimited travel expenses, as well as her old job at the Dodgers back. Before last fall, Jamie McCourt served as the team’s chief executive. Read the rest »
Choosing the Right Philadelphia Mediation Attorney for Your Divorce
It can be a difficult decision to decide to divorce, and one that brings with it emotional issues and a high amount of stress. Many couples going through a Pennsylvania divorce decide to settle their affairs through mediation, rather than adding litigation and court appearances to their stress.
Mediation in Pennsylvania allows a couple who wishes to divorce a way to handle matters of divorce in an open, non-judgmental environment with an unbiased mediator, typically an attorney, facilitating the discussion. While the conversation is serious, mediation is generally very informal and communication between both parties can be made easier. Often, many couples find litigation does not permit them to state their side of the story or leaves them with a settlement from a judge they are unhappy with. In mediation, both couples are given an opportunity to air their grievances, and an agreement is reached that takes both of their needs into concern. Typically, issues such as child custody and visitation agreements, property division, and more are decided during mediation. Read the rest »
Woman Alleges Keanu Reeves Fathered Her Children in Paternity Suit
Recently, Keanu Reeves was involved in a paternity suit in which a Canadian woman claimed he was the father of her children, reports The San Francisco Chronicle. Read the rest »
Divorce’s Influence on Social Security
An article recently featured in the Los Angeles Times discussed divorce’s affect on a person’s plans for retirement as well as future claims for Social Security benefits. Since Social Security is the primary source of income for approximately 72 percent of unmarried retirees, many of whom are single due to divorce, understanding a few key points regarding spousal and survival benefits should be a priority, particularly for those approaching retirement age. Knowing the details of these benefits can help someone avoid making a costly error that could negatively affect their financial future. Read the rest »
3 in 4 Domestic Violence Victims Are Unidentified in PA Emergency Room Visits
A study recently conducted by the University Of Pennsylvania School Of Medicine found that over three quarters of victims of domestic violence, who report the events to law enforcement, receive care in emergency rooms, but the majority of them are not identified during their hospital visit as being domestic violence victims. Read the rest »
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