In Pennsylvania, the division of property during a divorce is governed by the principles of equitable distribution, which involves two main steps:
1. Determining Marital vs. Separate Property:
- Marital Property: This includes all property acquired during the marriage, regardless of whose name is on the title. It also encompasses any increase in value of separate property (such as an increase in value of a house or business) that occurred during the marriage, up to the date of separation or the equitable distribution hearing, whichever results in the lesser increase.
- Separate Property: This includes properties acquired:
- Before the marriage.
- By gift or inheritance, unless the gift was made to both spouses, in which case it is considered marital property.
- After final separation but before the divorce is finalized.
- Any property specifically excluded in a valid pre-nuptial or post-nuptial agreement.
2. Equitable Division:
- After determining which properties are marital and which are separate, the court will then divide the marital property in an equitable (fair) manner. However, this does not necessarily mean a 50/50 split.
- Factors considered include:
- The length of the marriage.
- The contributions of each spouse to the marital property (including non-financial contributions like homemaking).
- The economic circumstances of each spouse.
- The health and age of each spouse.
- The standard of living established during the marriage.
Key Points to Remember:
- Ownership of the title does not dictate whether property is marital or separate.
- Veterans’ benefits are generally exempt from attachment in divorce, unless the veteran has waived part of their military retirement pay for compensation.
- Pre-marriage property or gifts are generally considered separate, except in certain circumstances where they are used or transformed into marital property.
Divorce Lawyer R. Badet specializes in divorce law, including asset division, spousal support, child custody, and more. With years of experience, he helps clients navigate the complexities of divorce and secure favorable outcomes.
For more information on your rights or a free consultation, visit www.lawyersfordivorces.net or call 267-277-2641.
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