In Pennsylvania, the division of property during a divorce follows a two-step process:
- Determination of Marital vs. Separate Property
- Equitable Distribution of Marital Property
While the term “equitable” distribution is used, it does not necessarily mean a 50/50 split. The court looks at various factors to ensure fairness.
Marital Property:
Marital property includes all assets acquired during the marriage, and it’s subject to equitable distribution. Key points include:
- All property acquired during the marriage is marital property, regardless of whose name is on the title.
- Increase in value of non-marital property (such as real estate or investments) during the marriage is considered marital property, up until the date of separation or the equitable distribution hearing.
- Title ownership is irrelevant; even if one spouse’s name is on the title, the property may still be considered marital property if it was acquired during the marriage.
Separate Property:
Separate property refers to assets that are not subject to division. These include:
- Property acquired before the marriage.
- Property excluded by a valid agreement made before, during, or after the marriage (such as a prenuptial agreement).
- Gifts or inheritance received by one spouse during the marriage, unless the gift was given to both spouses, in which case it is considered marital property.
- Property acquired after final separation up until the divorce is finalized is separate property.
- Veterans’ benefits are exempt from division, unless a portion of the military retirement pay was waived in order to receive compensation.
- Settlements or awards received either before the marriage or after the final separation are considered separate property. The crucial factor is when the cause of action “accrued,” not when the payment was actually received.
Equitable Distribution:
Once the property has been classified as either marital or separate, the court will divide the marital property in a way that it deems fair, considering various factors such as:
- The length of the marriage
- The economic circumstances of each spouse
- The contribution of each spouse to the acquisition of marital property
- The value of the property
- Custody of any children, etc.
Divorce Lawyer R. Badet
Navigating property division in divorce can be complex, and having an experienced attorney can make a significant difference. R. Badet is a highly respected divorce lawyer with extensive experience in handling both simple and complex divorce cases, including property division, child custody, and support matters. He is committed to providing the best possible outcome for his clients.
For a free consultation, visit www.lawyersfordivorces.net or call 267-277-2641. Trust an experienced lawyer to guide you through the division of property and other aspects of your divorce.
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