In a divorce in Pennsylvania, the division of property follows two main steps:
- First, it must be determined which property is considered marital property and which is separate property.
- Then, there is an equitable distribution of the marital assets; it’s important to note that “equitable” does not necessarily mean a 50/50 split.
Marital Property:
- Marital property includes all assets acquired during the marriage.
- It also encompasses any increase in value of non-marital property, up to the date of separation or the equitable distribution hearing, whichever results in a lesser increase.
- The title of the property does not determine its classification.
Separate Property:
- Property obtained before the marriage is considered separate property.
- Any property excluded by a valid agreement made by the parties before, during, or after the marriage is separate property.
- Property received as a gift or inheritance is separate property, with one exception: if the gift was given to both spouses, it is classified as marital property.
- Property acquired after final separation, but before the divorce is finalized, is separate property.
- Veterans’ benefits are exempt from division, unless the veteran has waived part of their military retirement to receive compensation.
- Any award or settlement obtained before the marriage or after the final separation is considered separate property. The critical date is when the cause of action arose, not when the payment was received.
Divorce Lawyer R. Badet is a skilled divorce attorney who is committed to guiding clients throughout the divorce process. Whether handling straightforward or complex divorces, spousal support, child support, or child custody matters, he has the expertise to achieve the best possible outcomes. For more information on your legal rights and options, visit his website or call for a free consultation. R. Badet is a highly respected and experienced attorney, specializing in both Family Law and Criminal Law.