In Pennsylvania, property division during a divorce involves two key steps:
- Classifying Property: Determining which assets are marital property and which are separate property.
- Equitable Division: Dividing marital property fairly, though not necessarily equally.
Marital Property
Marital property encompasses all assets acquired during the marriage, regardless of whose name is on the title.
- Inclusions:
- Assets acquired during the marriage.
- Any increase in value of separate property during the marriage, up to the date of separation or equitable distribution hearing (whichever shows the lesser increase).
- Exclusions:
- Separate property, as detailed below.
Separate Property
Separate property refers to assets not considered part of the marital estate. Examples include:
- Pre-Marital Assets: Any property owned before the marriage.
- Property Excluded by Agreement: Assets explicitly excluded through a valid prenuptial, postnuptial, or other marital agreements.
- Gifts or Inheritances: Assets received by one spouse as a gift or inheritance.
- Exception: Gifts given to both spouses are considered marital property.
- Post-Separation Acquisitions: Assets acquired after the date of final separation but before the divorce decree.
- Veterans’ Benefits: Generally exempt from attachment, except where waived in favor of military retirement pay.
- Awards or Settlements: Payments related to causes of action that accrued before the marriage or after the separation date.
Key Considerations
- Date of Accrual vs. Receipt: For settlements or awards, the date the cause of action accrued determines whether the asset is marital or separate property, not the date the payment was received.
- Equitable Does Not Mean Equal: The division of marital property aims for fairness, which may not result in a 50/50 split.
About Divorce Lawyer R. Badet
R. Badet is an experienced divorce attorney who offers expert guidance on property division, spousal support, child custody, and child support. He is dedicated to achieving the best outcomes for his clients, whether in simple or complex divorce cases.
For more information, visit www.lawyersfordivorces.net or call 267-277-2641 for a free consultation. With extensive experience in family and criminal law, R. Badet provides compassionate and effective legal representation in Philadelphia and surrounding counties.
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