All marital property is divisible between the parties in a Pennsylvania Divorce. Marital property is any property acquired by spouses during the marriage, as well as gifts between spouses during marriage, and the increase in value of separate property during marriage. The process of dividing property in Pennsylvania is called “Equitable Distribution.” We have assisted many clients reach private settlement agreements without the need for court. When court is necessary, we understand the equitable distribution factors and can help you understand how they will apply in your case.
There are 11 factors that the divorce court must consider when dividing marital property. None of this factors include marital misconduct:
- The length of the marriage.
- Any prior marriage of either party.
- The age, health, station, amount and sources of income, vocational skills, employability, estate, liabilities and needs of each of the parties.
- The contribution by one party to the education, training or increased earning power of the other party.
- The opportunity of each party for future acquisitions of capital assets and income.
- The sources of income of both parties, including, but not limited to, medical, retirement, insurance or other benefits.
- The contribution or dissipation of each party in the acquisition, preservation, depreciation or appreciation of the marital property, including the contribution of a party as homemaker.
- The value of the property set apart to each party.
- The standard of living of the parties established during the marriage.
- The economic circumstances of each party at the time the division of property is to become effective.
- The Federal, State and local tax ramifications associated with each asset to be divided, distributed or assigned, which ramifications need not be immediate and certain.
- The expense of sale, transfer or liquidation associated with a particular asset, which expense need not be immediate and certain.
- Whether the party will be serving as the custodian of any dependent minor children.
WE HELP YOU UNDERSTAND EQUITABLE DISTRIBUTION OF PROPERTY AND HOW IT MAY APPLY IN YOUR CASE
Each divorce case is different. We have handled many complex divorce cases involving property. Sometimes spouses can agree on division of property. If the parties cannot agree, the court will consider all marital property, the value thereof and divide the property in accordance with the Divorce Code. We can help you understand the court’s powers and remedies.
We represent spouses in divorce cases involving contested property distribution throughout Central Pennsylvania. She also helps clients reach private settlements.
Contact us now to schedule a thorough consultation with one of our experienced compassionate attorneys by calling 717-790-2403.