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May 1, 2017

In this Ask the Experts episode, the partners of Petrelli Previtera Schimmel are welcomed back to discuss divorce law. They address some of the misconceptions the firm must often clear up when meeting with clients for the first time. For example, many couples are surprised to hear the reason for divorce does not come into play in no-fault states like Pennsylvania and New Jersey. Clients are also not initially aware that these states do not split assets 50/50; rather, they explain how equitable distribution states like PA and NJ change couples’ potential divorce outcomes.

During this “Divorce 101” episode, the partners explain issues surrounding business owners who dissolve their marriages. They describe the critical nature of engaging an expert in valuing a business to ensure the fair division of the business as a marital asset. Tom, Melinda and Diana note how pre- and post-nuptial agreements can protect individuals in these and other circumstances, should they proceed with a divorce down the road.

The partners also cover how parents can protect their kids’ emotional health during divorce, including when to share what’s going on with a child’s teacher. They then explain the benefits of mediation for eligible couples as well as some issues unique to divorcing couples over age 50, and much more.