In a Pennsylvania divorce, property division occurs in two stages:
- First, it must be determined which assets are marital property and which are separate property.
- Then, an equitable division of the marital property must be made (note that “equitable” doesn’t always mean a 50/50 split).
Marital Property:
- Marital property consists of all assets acquired during the marriage.
- It also includes any increase in value of separate property up until the date of separation or the equitable distribution hearing (whichever increase is smaller).
- The name on the property title does not determine ownership.
Separate Property:
- Assets acquired before the marriage are considered separate property.
- Property excluded by a valid agreement made before, during, or after the marriage is separate property.
- Gifts or inheritances are separate property, unless given to both parties, in which case it becomes marital property.
- Property obtained after final separation, but before the divorce is finalized, remains separate property.
- Veterans’ benefits are exempt from division, except when a veteran has waived a portion of military retirement pay for compensation purposes.
- Any award or settlement received before the marriage or after the final separation is separate property (the key date is when the cause of action arose, not when the payment was received).
Divorce Lawyer R. Badet is an experienced attorney committed to guiding clients through every aspect of the divorce process. Specializing in both simple and complex divorces, spousal support, child support, and child custody, he provides the expertise necessary for achieving the best outcomes. To learn more about your legal rights and options, visit www.lawyersfordivorces.net or call for a free consultation. R. Badet is a highly respected litigation attorney, skilled in Family Law and Criminal Law matters.