Division of Property – Philadelphia Divorces
In a Pennsylvania divorce, there are two steps to the division of property:
● (1) There has to be a determination about what is marital property and what is separate property, and
● (2) You have to make an equitable division of the marital properties; (you should note that equitable does not necessarily mean 50/50).
Marital Property:
● (1) Marital property includes all properties acquired during the marriage.
● (2) It also includes any increase in value of the non-marital properties (up to the date of separation or equitable distribution hearing, whichever is the lesser increase), and
● (3) Who owns the title to the property is not relevant.
Separate Property:
● (1) All properties acquired before the marriage is separate property;
● (2) Any property that was excluded by the parties’ valid agreement entered into before, during, or after the marriage is separate property;
● (3) Any property acquired by gift or inheritance is separate property;
o EXCEPTION: If the gift was giving to both parties, then it is marital property;
● (4) Property acquired after final separation until the date of the divorce is separate property;
● (5) Veterans’ benefits are exempt from attachment, except where a veteran has waived a portion of his military retirement pay in order to receive compensation, and
● (6) Any award or settlement payment that accrued before the marriage or after the date of final separation is separate property. (NOTE: The critical date is when the cause of action “accrued,” not when the payment was received.)
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