In Pennsylvania, dividing property in a divorce involves two primary steps:
- Identifying Property Types:
- Determine what constitutes marital property and what is considered separate property.
- Equitable Distribution:
- Marital property is divided fairly, but not necessarily equally, between both parties.
Marital Property
- Includes all assets acquired during the marriage.
- Covers any increase in the value of non-marital property up until the date of separation or the equitable distribution hearing, whichever is earlier.
- Ownership of the property title does not affect its classification as marital property.
Separate Property
- Property owned before the marriage remains separate.
- Assets excluded by a valid agreement (prenuptial, postnuptial, or other) remain separate.
- Gifts or inheritances are considered separate unless gifted to both parties.
- Exception: Gifts to both spouses are treated as marital property.
- Assets acquired after the date of final separation are separate.
- Veterans’ benefits are generally exempt, except when a veteran waives part of their military retirement pay to receive these benefits.
- Settlements or awards that accrued either before the marriage or after the separation date are separate property.
- Note: The crucial factor is when the cause of action for the award or settlement arose, not when the payment was received.
Expert Legal Representation
For assistance navigating property division and other aspects of divorce, Divorce Lawyer R. Badet offers experienced legal guidance. From complex property disputes to spousal support and custody matters, R. Badet ensures clients receive the best possible outcomes.
Learn more at www.lawyersfordivorces.net or call (267) 277-2641 for a free consultation.