Wedding costs can put a high amount of stress on a new marriage. Often newlyweds find themselves in debt just as the couple starts their new life together. This strain in finances can quickly lead to arguments and discord in the relationship.

In the U.S. weddings average between $19,223 to $32,039. Add anywhere from another 50-100% more if the wedding included custom services and products, experienced professionals, designer labels and popular event places. Below is a sample of five average costs for a wedding:

Financial pressures often increase as the new couple purchases their first home, appliances, furniture and other related items. Money is the prime reason couples argue and the number one reason they divorce. Over 70% of couples talk about money on a weekly basis, and the conversations tend to be emotionally based.

The combinations of a downturn in the economy and not having been taught how to effectively engage in financial discussions have resulted in heated and emotional arguments. A spouse may have also kept money secrets thinking that their new spouse wouldn’t find out, or it thinking that it wouldn’t really affect his/her spouse. Lying about finances is a common secret among spouses.

Now that you are considering a divorce it is time to separate emotion from money. The financial road to recovery after divorce can be difficult, especially if you do not have an agreement in writing. Memories can fade or attitudes can change with time. Get your agreement in writing by having a settlement agreement prepared. If you and your spouse can come to an agreement that you both think is fair, then you don’t have to pay thousands of dollars to fight over your assets and debt in court.

This is the time to sit down with your spouse and figure out how you are going to divide debt. Who will pay for what portion of debt? How long will it take?

It’s better to pay a little now to have an agreement prepared rather than a lot later to have a judge decide who is telling the truth. You will both sign it and it will be filed with your divorce paperwork. You can then have the agreement enforced in court at a later date, if necessary. Attorney Jim Cairns can put your agreements into writing and ensure you have a legal document to protect yourself. Don’t wait till after the divorce and realize it’s too late.

Once you have decided how you are going to handle the division of finances contact No Contest Divorce Law, LLC at 215-398-6760 or click on the words settlement agreement to learn how to get your settlement agreement started.

You want to make sure you have covered your bases and are not being duped by your spouse with hidden assets. To make a martial settlement agreement as fair as possible consider the following.

Start with looking at your expenses. Are your expenses higher than the income that is coming into the house? If so, where is this additional income coming from? When discovering a financial discrepancy one of the best places to start is looking at your spouse’s tax return forms. Some of the key items you want to look at while reviewing tax forms for the last five years are: real estate, trusts, partnerships and inconsistencies in income.

Should you find out after the divorce that your spouse was illegally hiding assets the law permits you a reasonable time to back track and get your share. However, it’s best to do this before you sign the settlement agreement, thus saving you a lot of headache.

Overpayment is a method some spouses will use to hide money. While you are looking at the tax forms, take a look and see if your spouse made a significant overpayment. Your spouse could be banking on that you aren’t going to find out and later on he/she will get a nice refund after the divorce. This also holds true for creditors, don’t overlook these payments.

Third parties are another good source to scrutinize. Did your spouse suddenly have to pay off debt to a friend? Often these types of arrangements are made with the condition that the money be given back after the divorce. Is there a lover in the picture? Was there money spent on a girl/boyfriend – vacations, rent or gifts? Is your spouse and his/her boss close? Would his/her boss wait to pay that big bonus or give a pay raise until after the divorce? Don’t forget to look at stock options and retirement benefits an employer may be holding onto until after the divorce. Also, see if there any contracts that your spouse has been delaying in signing.

Time to visit some government offices. At the County Tax Assessor’s Office you can learn about any home or land that your spouse owns, you will get the address and the assessed taxable value of the property. The courthouse is a must when searching for hidden assets. Records from the courthouse will tell you if your spouse has borrowed money from a mortgage company or a bank. These records will hold information about each asset the person owns and the value, it’s required for the loan application(s).

Bank accounts should be checked for a few different things. Look at the savings account, has there been a huge withdrawal/deposit or unusual patterns of activity? Take a look through cancelled checks. You may find payment for something you weren’t aware of, for example a property payment. In addition, be on the look out for children’s bank accounts which sometimes do not have to be reported as income to the IRS. Don’t forget to make copies of all your financial records.

Once you discover all of your marital assets you can hammer out an agreement with your spouse. Contact No Contest Divorce Law, LLC for a marital settlement agreement questionnaire to help guide you. No Contest Divorce Law, LLC Offices prepares marital settlement agreements at an affordable cost. Make sure to check out our settlement agreement blogs and settlement agreement page on our website. Contact No Contest Divorce Law, LLC at 215-398-6760 or click on the words DIVORCE MASTER to get a free case analysis.

If you have been married for ten years or more you may qualify for Social Security benefits through your spouse. There are four requirements which you need to fulfill in order to apply for benefits.

The first one is having been married ten or more years to your spouse. Below are the other three:

1. You are unmarried;
2. You are at least 62 years old; and
3. You are not entitled to a higher Social Security benefit on your own record.

Do keep in mind if you remarry you will most likely lose this Social Security benefit, unless you remarry the same spouse. If you do remarry and the marriage ends in divorce, annulment or a deceased spouse you may qualify for benefits from the initial spouse you married.

You do not have to rely on your spouse to fill out an application for benefits. If he or she qualifies you can go ahead and initiate the paperwork for your benefits regardless of the action your spouse may or may not have taken.

In the event that your spouse becomes deceased you may qualify for benefits as a surviving spouse. In this case the requirements are slightly different, though you must have still been married for at least ten or more years. Listed below are the other two general requirements:

1. You are at least age 60, if you are disabled then you can apply at age 50; and
2. You are not entitled to a higher Social Security benefit on your own record.

Benefits paid to a surviving or divorced spouse will not affect benefits paid to family members under the same record. To receive an estimate of your possible benefits you can contact a representative at your local Social Security office.

As you are considering your assets and debts in your marriage, you may also want to have a settlement agreement which will legally protect your financial future. No Contest Divorce Law, LLC also concentrates on settlement agreements, call 215-398-6760 for more information or click on SETTLEMENT AGREEMENT to learn more.

You have decided to get divorced. Where do you begin? A top priority is putting your finances in order. This will give you a solid start once the divorce is final and minimize potential surprises. Let’s be honest, you’ve probably already had enough surprises for a while.

At the top of your list should be getting a credit report. Order them right away. You can get a free credit report from each of the reporting agencies each year. Once you get them go over them with a fine toothed-comb and see if there are any discrepancies or items you may have forgotten to include in your settlement agreement– for example, credit card debt.

You are entitled to a free credit report every twelve months, that’s once a year. The top three companies you want to make sure you get a report from are Equifax, TransUnion and Experian. Some of the information you can expect to find in your credit report include: how you pay your bills, where you live, if you have been sued, if you have filed for bankruptcy and/or if you have been arrested. Keep in mind this information is used by employers, landlords, insurers and applications for credit. Also, beware of imposter websites – we suggest you look up the Federal Trade Commission for details.

Close joint credit cards, if you are not prohibited by a court. The last thing you want to learn is that your spouse went on a spending spree and you are now responsible for this debt.

Tax refunds, if filed jointly, a refund check will be sent in both your name and your spouse’s name or direct-deposited into an account. Use a settlement agreement to make sure the refund is divided between both of you.

With frequent flier miles you have a couple of options. You can either have tickets issued to one of the parties or one of the spouses can monetarily compensate the other for the points.

If Insurance is prepaid, such as house, life, disability and health insurance, then determine the amount that is currently prepaid. Prepayments can be considered part of your marital assets when valuing and dividing up property and finances.

Timeshares can also be dealt with in a few different ways. You and your spouse can continue to own it jointly, one spouse retain it (often at a lesser value than it’s purchase price, since timeshares are usually worth less than what is owed on them- consider an appraisal to find out for sure), or you can agree to sell the timeshare and split any equity or debt.

Professional dues and magazine subscriptions normally offer a significant discount when prepaid two to three years in advance. If monies from your shared accounts were used to pay for this make sure you account for this when reviewing your finances.

No Contest Divorce Law, LLC can legally help you protect your financial assets by preparing a settlement agreement which will be legally binding. If you and your spouse can agree upon how you are going to divide your property and finances, a settlement agreement can save you money. Contact No Contest Divorce Law, LLC at 215-398-6760 or click on the words SETTLEMENT AGREEMENT to learn more.

A marital settlement agreement, also referred to as a MSA, is an opportunity for couples to save money on the division of their assets and debts, without having a judge decide for them. If a couple is not able to come to an agreement they will spend a considerable amount more in money and time fighting the issues out in court. The trend of today’s savvy divorcing couples is to spell out their own settlement agreement terms. This means that the couple saves considerable attorney’s fees by deciding the terms for the dissolution of their marriage. They then have their attorney draft the marital settlement agreement and file it with the divorce court. By doing it this way, the couple then does not have to go to court.

Marital settlement agreements are legal contracts which define the terms of a divorce for couples with or without children. This option is available when both parties consent to the terminating conditions of their divorce and plans for the future. Conditions for an agreement can include a range of items such as: wedding debt, personal property, spousal support, child financial responsibilities, involvement of grandparents, pets,and frequent flier miles.

Couples have the freedom to decide which items are of importance and should be included in their marital settlement agreement. They become the authors of their lives after divorce; instead of being forced to accept the order of a Master or Judge after lengthy and expensive divorce litigation. If divorcing couples can find mutual ground they can tailor their agreement to their personal needs. This means saving headaches, time and money and is one way to divorce “on budget”.

There are different ways to work on a Pennsylvania marital settlement agreement with a spouse. Some couples have an initial conversation and go from there. Another option is to have one party write up a draft and then email his/her spouse, they go back and forth a few times until they have terms they feel are acceptable. Also, it’s important to keep in mind that each person will have to compromise in order to create a fair agreement. It’s very rare for a person to get everything he/she wants.

If you hire No Contest Divorce Law, LLC to draft your Pennsylvania marital settlement agreement, you will be emailed a marital settlement agreement questionnaire. Just fill out the questionnaire and No Contest Divorce Law, LLC will draft your agreement promptly. The questionnaire will help you to address important areas that you should consider. This is a good way not to overlook critical issues. You can always contact No Contest Divorce Law, LLC if you have questions about the terms of your marital settlement agreement.

In addition, couples who come to an agreement with their spouse will be spared additional emotional trauma. Divorce tends to catapult people into uncharted emotional territories where they find themselves experiencing unsettling emotions. Couples who decide to battle it out in court increase the frequency of painful episodes and often take a lot longer to emotionally heal. With an agreed upon marital settlement agreement, divorcing couples tend to emotionally recuperate quicker.

Once you and your spouse have agreed to the terms of your divorce, contact No Contest Divorce Law, LLC to file the legal paperwork at 215-398-6760 or start right away by clicking on MARITAL SETTLEMENT AGREEMENT.

You are also invited to read our client testimonials. See what others have to say about our services.

Marital homes tend to be the biggest asset of a couple and can also be the largest liability of a couple. As you are considering who gets to keep the house, put aside the memories and emotions tied into it and seriously consider how the house is going to affect your financial future. Don’t let your home become a financial nightmare.

When it comes to your house and the mortgage there are four basic options:

1. Purchase the house from your spouse;
2. Sell your home and share the profits or debt;
3. Sell the house to your spouse; or
4. Continue to share ownership with your spouse.

Purchasing house from spouse

There are several important factors to consider when purchasing the house from your spouse. The number one consideration is how your monthly income will change. Will you be able to comfortably continue the mortgage payments? Are you financially prepared to incur the cost of a major house repair, for example a pipe bursting and flooding your kitchen? If the mortgage is in both of your names then you may have to refinance in your own name. Refinancing means taking into account your debt, job history and credit history.

Selling your house

An important consideration when selling your home is to take into account the expenses which come along with selling the house. Don’t forget the real estate commission and also possible tax implications. Also, be discreet of why you are selling your home. Homeowners have lost on the average $10,000 when buyers realize that the house is being sold due to divorce.

We strongly urge you to put the details of selling your home in a settlement agreement, making it legally binding. Some of the items to consider in your settlement agreement are:

1. Steps each spouse will take to sell the house;
2. A timetable – how long are you going to have the house on the market; and
3. What action will you and your spouse take if the house is not sold within your specified timetable?

Selling house to spouse

If you are on the title and mortgage make sure your name is taken off. Not taking this measure can possibly ruin your credit because of late mortgage payments and back taxes. You can use a settlement agreement to legally spell out how the title will be transferred to the spouse who is buying the house.

Shared Ownership

Another use of settlement agreements is when spouses decide to continue to share ownership of the house. You can spell out the financial agreements. Who will pay for the mortgage, taxes and insurance? How will repairs be handled? Will you sell the house after the children become adults?

The value of a settlement agreement can not be understated. It it always better and less costly to have a settlement agreement prepared now than it is to go to court to settle a dispute later. A marital settlement agreement is the legal document which will protect you when your ex-spouse becomes emotional or has a change of heart. Attorney James Cairns concentrates in settlement agreements and can help you secure the future of your home and finances. You can either call 888.863.9115 for an initial free consultation or learn more about settlement agreements by clicking on the words SETTLEMENT AGREEMENT.