In a Pennsylvania divorce, the division of property follows two steps:
- First, it must be determined which assets are considered marital property and which are separate property.
- Next, an equitable division of marital property is made (note that equitable does not always mean an equal 50/50 split).
Marital Property:
- Marital property consists of all assets acquired during the marriage.
- It also includes any increase in value of separate property, but only up to the date of separation or the equitable distribution hearing, whichever results in a lesser increase.
- The title holder of the property is irrelevant in determining marital property.
Separate Property:
- Property acquired before the marriage is separate property.
- Any property excluded by a valid agreement made by the parties before, during, or after the marriage remains separate.
- Property received by gift or inheritance is separate property, except when the gift is given to both spouses, in which case it becomes marital property.
- Property acquired after the final separation but before the divorce is considered separate property.
- Veterans’ benefits are exempt from division unless a portion of military retirement pay has been waived to receive compensation.
- Any settlement or award received before the marriage or after final separation is separate property. The key date is when the cause of action occurred, not when the payment was received.
Divorce Lawyer R. Badet is a skilled attorney who assists clients throughout the divorce process, handling everything from simple to complex divorce cases, spousal support, child custody, and child support matters. With years of experience, R. Badet is dedicated to securing the best possible outcome for his clients. For more information about your legal rights and options, visit his website or call for a free consultation. He is a highly respected lawyer with expertise in both Family Law and Criminal Law.