In divorce proceedings within Pennsylvania, the court undertakes a two-step process to divide marital assets. Initially, it identifies and assesses marital property, followed by an equitable division. Importantly, equitable distribution doesn’t necessarily imply an equal split (50/50). Once finalized, the division of assets cannot be altered.
The court relies on key concepts like transmutation and co-mingling to determine property classification and distribution:
Key Principles:
- Transmutation: This occurs when separate property is treated in a way that converts it into marital property or vice versa. The court evaluates the intent of both parties. For instance, if an inherited property is utilized by both spouses as shared marital property, it may be classified as marital property through transmutation.
- Co-mingling: Separate property can transform into marital property if it becomes intertwined with marital assets to an extent that its original nature cannot be distinguished. Courts attempt to trace the property to maintain its original character.
Factors Considered in Equitable Distribution
When dividing marital assets, the court examines various factors, including:
- The duration of the marriage.
- Previous marriages of either spouse.
- The age, health, job skills, earning potential, liabilities, and financial requirements of each party.
- Contributions by one spouse to the other’s education or career development.
- The necessity for future asset acquisition or income generation.
- Both parties’ income levels, medical needs, and retirement plans.
- Contributions made to marital property growth.
- The value of each party’s separate property.
- Any decrease in marital property value caused by a spouse.
- The couple’s standard of living during the marriage.
- Custody arrangements for minor children.
Assistance with Property Division
Attorney R. Badet is skilled in managing all aspects of divorce proceedings, from property division to child custody and support. Whether your case is simple or complex, he provides professional guidance to secure favorable outcomes.
- Contact Information:
- Phone: (267) 277-2641
- Website: www.lawyersfordivorces.net
- Services Include: Flat-fee divorces starting at $599 with comprehensive support from filing to resolution.
Reach out for a consultation and gain clarity on your legal rights and options.