Category Archives: Business

Pennsylvania Divorce Code: waiting period reduced to one year. The Pennsylvania General Assembly has passed a bill reducing the separation period for no-fault divorces from two years to one year.  Under Section 3301(d) of the Divorce Code, when grounds of irretrievable breakdown of the marriage are established, the court may enter a divorce decree after […]

Issues facing high net worth individuals entering a divorce are often much different from the issues faced by lower/middle income individuals.  As such, they must be planned for and approached in a manner befitting the unique issues that need to be addressed.  There are simply more financial resources to fund, support and to share. Substantial […]

While divorce between couples with low- to mid-level wealth is focused on ending the partnership peacefully, high net worth individuals (HNWIs) must evaluate the effect of a divorce on accumulated wealth through self-owned business operations. If both parties within the marriage contributed to the revenue from operations or growth of the business, the business is […]

If an interest in a closely held business arises during the marriage, divorce will typically involve the distribution of the business to one spouse; a buy-out of the other’s interest is often necessary, as divorcing spouses cannot be expected to work together. However, where spouses will have little contact, the court may award the business to […]