Assets That Need Special Attention During Equitable Distribution
Some divorcing couples have relatively straightforward assets that are reasonably simple to distribute among the parties: one house, a vehicle or two, and some bank accounts, for example. Other Pennsylvania couples own assets that are harder to value and divide. In those situations, assessing the value of the property can require more time and attention…. Read More »
Are Lawsuit Proceeds Considered Marital Property in a Pennsylvania Divorce?
Property division can be one of the most contentious aspects in a divorce, with controversy often centering on the identity of assets as marital or separate in ownership. One type of asset that can be disputed is an award or settlement received by either spouse in a personal injury lawsuit. Whether or not lawsuit… Read More »
Special Issues Facing Pennsylvania Couples in High-Net-Worth Divorces
Divorces between wealthy Pennsylvania couples may develop into complicated and lengthy proceedings. Spouses with valuable and diverse assets will face issues unlike those that arise in a typical divorce, chiefly concerning the identification and valuation of property for purposes of equitable distribution. High-net-worth divorces often involve complex assets, such as multiple real estate interests, pension… Read More »
What to Think About When Filing for Divorce
Making the decision that a divorce is necessary or desirable is not done lightly. It has probably taken you a great deal of time and considerable anguish to get to that point. However, even more decision-making and careful preparation lie ahead. There are basic steps that you should take at the onset of the divorce… Read More »
What Is Marital Property?
One of the most important issues to settle during divorce is the division of property. Pennsylvania is an equitable distribution state, which means the court divides marital property in a manner it considers fair, though not necessarily equally. But what does the law mean by “marital property”? In any divorce, there are two kinds of… Read More »
Who Decides How Property Is Divided in a Pennsylvania Divorce?
When divorcing spouses cannot agree on how to divide their marital property themselves, the court will take on that role. Pennsylvania law gives courts the power to divide marital assets and debts in divorce proceedings through a process called equitable distribution. If spouses are unable to come to their own property agreement in a divorce,… Read More »