IN North Allegheny Spring 2020 | Page 41

H INDUSTRY INSIGHT FAMILY LAW ow easy would it be to get divorced at your kitchen table? You would not have to worry about going to court, spending thousands of dollars in legal fees, hiring financial experts or putting your kids in a difficult position where they might have to testify. If this appeals to you, then consider what is called “the kitchen table approach.” This approach tends to be the least expensive way of parting ways. However, it is usually reserved for those couples who can communicate and are somewhat amicable. It requires trust in each other and at least some knowledge of your finances. It can involve one lawyer or two and it is legal and binding if done the right way. So how do you do it? If you both know you are ready to sever ties, then get your financial documents together, trying to use the same date, considering your “date of separation.” What is your date of separation? It can be the date you both decide to call is quits or just an arbitrary date you both agree upon. Review the statements looking at the balances of all of your bank accounts, retirement accounts, whole life policies cash surrender amounts, Kelly Blue Book values on vehicles and recreational vehicles, and investment accounts. Discuss what makes the most sense in how to divide your assets. If you own a home, think about who is keeping it and how to buy the other spouse out of the house. If you plan on selling, talk about timelines, which realtor to use and when to list it. Above all, you need to value your home whether by appraisal (more reliable) or a knowledgeable realtor’s market analysis (usually free). When thinking about supporting a dependent spouse or minor children, exchange budgets whether it is for the house you are in or a future home or rental. Look at what your deficit is and see how you both can make up the deficit and how long the support should continue. If you want to see what the court-based child support calculation is, consult with an attorney. Should child custody be an issue, talk about what schedule will be in your children’s best interests including how to SPONSORED CONTENT share holidays and vacation time. It is all about the kids and PA recognizes children needing both parents in their lives. If you have debts, figure how those will be divvied up. It is usually easier for the person whose name they are already in to retain ownership of that debt but in return he/she may get more of the assets to offset the debt. Once you have a general framework for how to divide things, find at least one attorney. That attorney can represent only one spouse (never both), can draft a marriage settlement agreement based upon your agreed upon terms and file the divorce complaint to get the clock ticking on your 90 day cooling off period (mandated by PA law). The spouse that goes “unrepresented” can consult with a separate attorney to review the marriage settlement agreement before signing to make sure he/she is not getting “raked over the coals.” Even using an attorney on a limited basis for reviewing purposes only can really save money and give you peace of mind. Now, if things aren’t as amicable or easy to settle at your kitchen table, you may want to consider going through mediation or a collaborative divorce. Both are great ways to save money, time and avoid ever setting foot in a court room, while maintaining control of your future rather than leaving it in a judge’s hands. If the communication and/or cooperation just isn’t there, you may be forced to litigate which is usually the least cost effective but may be your only option. When thinking about a divorce, do your due diligence and consult with an attorney about your process options to see what will work best for you. GET DIVORCED AT YOUR KITCHEN TABLE www.mcmorrowlaw.com This Industry Insight was written by Brooke B. McMorrow. Attorney Brooke McMorrow is the founding member and Managing Attorney of McMorrow Law, LLC located in Wexford, Pennsylvania. McMorrow Law focuses on family law matters such as divorce, custody, child support, guardianship, estate planning, and probate/estate administration in Pittsburgh and the surrounding counties. Attorney McMorrow is collaboratively trained and a certified mediator. She is licensed to practice in Pennsylvania and New York. For a free initial consultation call 724.940.0100 or visit the website at www.mcmorrowlaw.com. NORTH ALLEGHENY ❘ SPRING 2020 39