In Pennsylvania, property division during a divorce is based on an equitable distribution model. The process involves two primary steps:
- Determining Marital vs. Separate Property
- Equitably Dividing the Marital Property
It’s important to note that equitable distribution does not mean a 50/50 split. Instead, it means dividing property in a manner that the court finds fair based on various factors.
1. Marital Property
Marital property refers to property acquired during the marriage. Some key points about marital property include:
- All property acquired during the marriage is marital property, including any assets and income earned during the marriage.
- Increase in value of separate property during the marriage also becomes part of the marital property. This applies to properties that were owned before the marriage but appreciated in value during the marriage. The increase in value up to the date of separation or the equitable distribution hearing is considered marital property.
- Ownership is not relevant when determining whether property is marital or separate. Even if only one spouse holds the title to the property, it can still be classified as marital property if it was acquired during the marriage.
2. Separate Property
Separate property refers to assets that are not subject to division during the divorce. This includes:
- Property acquired before the marriage: Any property or assets that a spouse owned prior to the marriage are considered separate property and will not be divided.
- Pre-marital agreements: Property that was excluded by a valid agreement entered into before, during, or after the marriage is considered separate property.
- Gifts and inheritances: Any property acquired by gift or inheritance during the marriage is separate property, unless the gift was made to both spouses. If the gift is for both spouses, it becomes marital property.
- Property acquired after separation: Any property acquired after final separation until the date of the divorce is considered separate property.
- Veterans’ benefits: Veterans’ benefits are exempt from attachment in a divorce settlement, unless the veteran has waived a portion of their military retirement pay to receive compensation. In that case, part of the military retirement may be subject to division.
- Awards and settlement payments: Any award or settlement that accrued before the marriage or after the date of final separation is separate property. The key date is when the cause of action (e.g., injury or claim) accrued, not when the payment was received.
Equitable Division of Marital Property
Once marital property has been identified, it will be divided based on the principle of equitable distribution. Pennsylvania courts consider various factors to ensure the division is fair, which may include:
- The length of the marriage
- The contributions of each spouse to the marriage (both financial and non-financial)
- The economic circumstances of each spouse
- The age and health of the parties
- The standard of living established during the marriage
Working with a Divorce Lawyer
Dividing property during a divorce can be complex, and it’s crucial to understand the implications of each asset. An experienced divorce lawyer can guide you through the process of identifying marital and separate property and help ensure an equitable division of assets.
Divorce Lawyer R. Badet is an experienced divorce attorney specializing in all aspects of divorce, including property division, spousal support, child custody, and support. With years of experience in handling complex divorce cases, he is well-equipped to provide you with the best possible legal advice and representation.
Contact Divorce Lawyer R. Badet for a free consultation:
- Call 267-277-2641
- Visit www.lawyersfordivorces.net
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