In Pennsylvania, the division of property during a divorce is a crucial process that follows a two-step procedure:
- Identification of Marital vs. Separate Property
- Equitable Distribution of Marital Property (Note: equitable does not necessarily mean 50/50)
1. Marital Property:
Marital property includes everything acquired during the marriage, with a few exceptions. The key aspects to understand are:
- Acquired During Marriage: Any property acquired after the marriage date until the date of separation is considered marital property.
- Increase in Value of Separate Property: If there’s an increase in value of non-marital property during the marriage (e.g., an increase in value of a property you owned before marriage), that increase in value is considered marital property up to the date of separation or equitable distribution hearing, whichever comes first.
- Title Ownership Irrelevant: It doesn’t matter who holds the title to the property—property is considered marital if it was acquired during the marriage.
2. Separate Property:
Separate property is defined as property that belongs to one spouse and is not subject to division in a divorce. It includes:
- Property Acquired Before Marriage: Any property owned by either spouse before the marriage remains separate.
- Valid Pre/Post-Nuptial Agreement: If the spouses signed an agreement stating that specific properties are separate, those properties are not subject to division.
- Gifts or Inheritances: Property acquired by one spouse as a gift or inheritance is separate, unless the gift was made to both spouses (in which case it becomes marital property).
- Property Acquired After Separation: Anything acquired by a spouse after the date of final separation is considered separate property.
- Veterans’ Benefits: Generally, veterans’ benefits are exempt from attachment, except if a veteran has waived part of their military retirement pay to receive compensation.
- Pre-Marriage/After-Separation Settlement Payments: Any award or settlement that was obtained before the marriage or after final separation is considered separate property. The key date is when the cause of action “accrued,” not when the payment was made.
Equitable Distribution:
Once marital property is identified, it is subject to “equitable” distribution, which means a fair division based on a number of factors. Importantly, equitable does not always equate to a 50/50 split. Instead, the court will consider factors such as the duration of the marriage, the income and property of each party, the standard of living established during the marriage, and each party’s contributions (financial and non-financial) to the marriage.
Get Help from Divorce Lawyer R. Badet:
Dividing property can become a complex and contentious issue in a divorce. Divorce Lawyer R. Badet is highly experienced in handling the division of assets, ensuring that his clients understand their rights and receive a fair distribution.
If you’re facing a divorce and need assistance with property division or any other family law matter, R. Badet is here to guide you every step of the way. His practice covers simple and complex divorces, spousal support, child support, and child custody.
For a free consultation, visit www.lawyersfordivorces.net or call 267-277-2641 to learn more about your legal rights and options.
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