Wyomissing, Pennsylvania Family Law and Estate Planning Blog

When faced with the word divorce, some people in Pennsylvania may only see the long, drawn-out court battles in which each soon-to-be-ex brings up each and every fault of the other while trying to walk away with almost everything. However, divorce proceedings do not have to be so vile and hateful. There are ways that a couple can have a smooth and amicable divorce without terrible fights and selfishness.

According to the American Psychological Association, it is normal to experience emotions, such as fear, grief and anger, at the end of a marriage, and that partners who are compassionate to themselves will have an easier time dealing with them. Open communication and cooperation with the other spouse are also important. If both partners are able to communicate, divorce mediation may be a better option than courtroom litigation. Mediation allows the couple to negotiate asset and debt division, living situations and child custody in a less stressful environment.

When you agree to act as someone’s Pennsylvania executor or trustee, you make yourself a fiduciary. Consequently, as FindLaw explains, in everything you do while acting in that capacity, you must put the interests of the estate, trust, heirs and/or beneficiaries ahead of your own interests.

It goes without saying that becoming an executor or trustee puts you in the position of having to assume important responsibilities. Obviously you need to perform your duties to the best of your ability, but no one expects you to be perfect. You are human, after all, and human beings often make inadvertent mistakes. No one will sue you should you make one of these mistakes. The heirs or beneficiaries may sue you, however, if you breach your fiduciary duties.

Some Pennsylvania entrepreneurs have special concerns about exposing themselves to liability when starting a new business. If you and a business partner are exploring a way to come together to form a business while limiting your liability exposure, a limited liability partnership is one option to consider. Even so, LLPs are not for every partnership, so some factors should be taken into account while exploring this option.

Chron.com explains that certain businesses are more at risk for liability than others, so if you are considering an LLP, you should think about whether you will be likely to face litigation because of the kind of profession you practice. Doctors, for example, may encounter litigation from patients who sue on the basis of malpractice. Forming an LLP can help offer some protection for one partner in the event the other partner ends up harming a customer, client or patient.

Pennsylvania has certain laws that help determine who gets what during a divorce. Though these issues can be less problematic for those with fewer assets, if you have a lot of assets they can create some unique hurdles.

FindLaw takes a look at some tips for handling high asset divorces, which can have its own unique set of problems to overcome in addition to the usual struggles involved with divorces. The first tip is to keep track of the assets you actually have. This can get more confusing depending on how many sources there are. For example, assets will include retirement funds, savings accounts, businesses, and anything inherited from others after their passing. Knowing exactly what you have will allow you to avoid complications if more assets are found after divisions are finalized.