In a Pennsylvania divorce, the property division process involves two key steps:
- Determining which properties are marital property and which are separate property.
- Making an equitable division of the marital property. It’s important to note that “equitable” does not necessarily mean a 50/50 split.
Marital Property:
- Marital property includes any property acquired during the marriage.
- It also includes any increase in value of separate property up to the date of separation or the equitable distribution hearing (whichever shows the lesser increase).
- The title holder of the property does not determine whether it is marital property.
Separate Property:
- Property acquired before the marriage is separate property.
- Property excluded by a valid agreement (whether entered into before, during, or after the marriage) is separate property.
- Property acquired through gift or inheritance is considered separate property, with one exception: If the gift was given to both spouses, it is considered marital property.
- Property acquired after final separation but before the divorce is separate property.
- Veterans’ benefits are typically exempt from division, except when a veteran waives part of their military retirement pay in exchange for compensation.
- Any award or settlement obtained before the marriage or after final separation is separate property. (The key date is when the cause of action accrued, not when the payment was received.)
Divorce Lawyer R. Badet is an experienced attorney committed to assisting clients through every stage of the divorce process. His services cover both simple and complex divorces, as well as spousal support, child support, and child custody cases. With his knowledge and experience, Divorce Lawyer R. Badet ensures the best possible outcomes for his clients. For more information about your legal rights and options, visit his website at www.lawyersfordivorces.net or call for a free consultation. He is a well-respected attorney with years of experience in both Family Law and Criminal Law.