By Jeffrey R. Lalama | Published November 15, 2020 | Posted in Divorce | Tagged Tags: discovery, diversified holdings, evaluation of assets and income, high-net-worth divorce, marital funds | Comments Off on High-Net-Worth Couples in Pennsylvania Face Special Issues During Divorce
High-Net-Worth Couples in Pennsylvania Face Special Issues During Divorce
Whether you and your spouse entered marriage with substantial assets or significantly increased your wealth during the marriage, a high-net-worth divorce in Pennsylvania can involve special considerations that require careful attention. While any divorce involving more than $1 million in assets can be considered high-net-worth, the term is mostly used to describe complex property portfolios Read More
Read MoreCOVID-19 and Child Support: An Overview for Pennsylvania Parents
The COVID-19 pandemic has caused economic devastation for families throughout Pennsylvania. Amid one of the highest unemployment rates in the nation, many families have been forced to make gut-wrenching financial decisions. Single parents who rely on child support to cover the costs of housing, feeding and caring for their children may find it difficult or Read More
Read MoreInsurance Coverage for COVID-19 Business Interruptions Is Unclear in Pennsylvania
Business closures and restricted operations during the coronavirus pandemic have played havoc with bottom lines, spurring business owners to look to their business-interruption insurance policies to make up the losses. However, many insurers have denied coverage, citing various exclusionary clauses in policies. In Pennsylvania, this has prompted a bevy of appeals that so far have Read More
Read MoreDebt Collection During the COVID-19 Pandemic
The coronavirus crisis has caused a statewide emergency in Pennsylvania that has markedly affected many judicial functions. In March, the state Supreme Court authorized local courts to impose emergency restrictions on their operations, including those relating to debt collection. Some of these local orders put a hold on efforts of creditors to recover debts through Read More
Read MoreCOVID-19 Pandemic Gives New Incentive to Estate Planning
The scourge of the coronavirus has brought concern about mortality into sharper focus for many people, encouraging them to put more thought into planning their estates. This includes not only executing a will but also creating advance directives covering emergency healthcare situations. Fortunately, even with the need for social distancing, it is still possible to Read More
Read MoreHow Can You Get a Divorce During the Coronavirus Pandemic?
With the plague of COVID-19 and quarantine measures still affecting the court system, people may wonder how to go about asserting their legal rights. For instance, what can you do if you want a divorce? You could wait for the lockdown to end and seek marriage counseling, but if you feel your marriage is irretrievably Read More
Read MoreWhen Is an Oral Contract Enforceable?
While it’s always best to have a written contract, business moves at such a rapid pace that reducing a contract to writing is often impractical. However, only certain types of contracts need to be written to be enforceable. In Pennsylvania, these include contracts involving purchase and sale of an interest in real estate or of Read More
Read MoreUnderstanding How COVID-19 May Have Affected the Value of Your Estate
The economic and personal upheaval triggered by the COVID-19 outbreak is likely to warrant a review of your estate plan, no matter how thorough you think it is. As Americans cope with health fears and financial volatility, it’s worthwhile to determine whether a will, trust, advance medical directive or other legal instrument needs to be Read More
Read MoreWho Gets the Stimulus Check When Spouses Are Separated or Divorcing?
Going through a divorce is stressful enough, but the coronavirus pandemic spreading throughout the United States presents additional complications for spouses who have decided to split. In addition to changes that might need to be made regarding custody and visitation arrangements while travel is restricted, negotiations over property division need to address any new economic Read More
Read MoreHow Will Coronavirus Affect Contractual Relationships and Obligations?
The coronavirus pandemic has disrupted practically every aspect of American life. Whether closed by government order or by concerns about public safety, millions of businesses around the country have seen their operations come to a halt. Despite the overwhelming effect of COVID-19, it is not a certainty that an “Act of God” clause in a Read More
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