In a Pennsylvania divorce, the equitable division of property involves two key steps:
- Identification and Valuation of Marital Property
- Equitable Distribution: After determining what property is marital versus separate, the court will divide the marital property in a way that it considers fair but not necessarily equal. “Equitable” division does not mean a 50/50 split. The court may allocate a greater share to one spouse depending on various factors.
Once the division is finalized, it is not subject to modification, meaning the division stands after the divorce is complete.
Key Concepts in Equitable Division:
- Transmutation: Transmutation occurs when property changes its character from marital to separate or vice versa. This can happen based on the intent of the parties involved. For example, if a spouse inherits property during the marriage but the couple treats it as marital property, the court may classify it as marital property under transmutation.
- Co-mingling: Co-mingling happens when separate property becomes inextricably mingled with marital property. For example, if one spouse has separate funds, but those funds are mixed with marital funds in an account, the court may classify the combined assets as marital property. The court will then trace the origin of the funds to preserve their original classification if possible.
Factors Considered in Equitable Division:
When dividing marital property, the court will consider several factors, including:
- Length of the marriage: Longer marriages may result in a more equal division of property.
- Prior marriages: If one spouse has been married before, this may influence the division.
- Age, health, and vocational skills: The court considers each party’s ability to earn income and their future financial needs.
- Contributions to education: Contributions to education (e.g., paying for schooling) can be factored into the division.
- Need for future acquisition of capital assets: If one spouse is expected to need assets for future needs (e.g., a home or business), this is taken into account.
- Income, medical needs, and retirement plans: Financial and medical circumstances of each party are important.
- Contributions to increase in marital property: The court considers efforts that led to the increase in value of marital property.
- Value of separate property: The value of any separate property owned by each spouse.
- Reduction in value of marital property: If one spouse is responsible for depleting marital property, it may influence the division.
- Standard of living: The court takes into account the standard of living established during the marriage.
- Custody of minor children: If there are minor children, custody arrangements may impact the division, as the custodial parent may need a larger share to support the children.
How Attorney R. Badet Can Help:
Divorce Lawyer R. Badet is an experienced attorney who can guide you through the division of property process in your divorce. Whether you are facing a simple or complex divorce, he offers expert legal advice to help ensure your rights are protected.
- Spousal Support, Child Support, and Custody: His expertise extends beyond property division to include spousal support, child support, and custody issues, ensuring that your case is handled with attention to detail.
- Experienced Litigation: With years of experience in family law and litigation, R. Badet works diligently to obtain the best possible outcome for his clients.
For a free consultation and to learn more about your legal options, visit www.lawyersfordivorces.net or call today.
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