Equitable Distribution

In our last article, we wrote about hiding assets the old-fashioned way.  For much of this writer’s career, the game was “cash”.  The pizzeria, the auto body shop, the produce vendor.  They lived in 3,500 square foot houses and drove luxury cars.  Nevertheless, the tax returns showed a mere $30,000 in income, a remarkable achievement.

This decision issued on a non-precedential basis on April 13, 2021, represents every divorce litigator’s nightmare.  Unfortunately, the decision on appeal to remand the case offers the litigants a chance to relive what happened in the 1993 Bill Murray movie “Groundhog Day”.

The Laights were married forever before they separated.  For much of their marriage

In the last few days, I have worked with another attorney to try to bring a peaceful end to a very brief marriage.  In the space of a couple weeks, we identified what was left of the “ties that bind” and how to painlessly sever things like joint leases, joint debts and dividing the wedding

Just about every divorce case involves a house and its corresponding mortgage.  In a small number of cases parties agree that dissolution of the marriage is also an opportune time to downsize the residence, but in most situations, at least one of the parties wants to keep the residence, even if just, “for a while.”

We have heard about the data.  In 2015, the Labor Department’s Bureau of Labor Statistics published a study indicating that the average worker could expect to hold 12 jobs during his/her career.  More recently, another study indicates that among younger workers (ages 25-35), job changes are occurring once every 2.8 years.

Many of these jobs

We have recently had inquiries about foreclosures.  Given the current economic climate, this is probably going to become more common.  The good news is that home prices are up, particularly in the Philadelphia suburbs.  But for those who have a house that’s underwater (debt exceeds sales price less commission/transfer taxes) there are things worth knowing.

I attended a seminar offered by accountant, Mitchell E. Benson, CPA, MT, CFF (Savran Benson LLP), Brian C. Vertz, Esquire (Pollock Begg) and Aliah Molczan (Savran Benson LLP) on July 9, 2020.  One of the topics discussed was the Payroll Protection Plan (PPP) loans, which were distributed in the second quarter of 2020 to allow

When couples decide to end a marriage, the process involves division of the good (the assets) the bad (the liabilities) and the ugly (liabilities that exceed assets).  Hearing officers whom we have spoken with report that they are seeing more cases where the controversies are ugly.  A decade ago, the battles were typically about overleveraged