Pennsylvania Property Division Lawyers

Divorce is often contentious, and one of the most commonly-disputed divorce issues is property division. Often, a property division agreement must be determined by a judge.

Property Division And Equity Distribution Lawyers Fighting For Clients In Pennsylvania

Many spouses do not realize just how much may be at stake in their divorce. It is imperative that you hire competent Pennsylvania divorce lawyers who can fight for your best interests at every turn.

Marital Property Vs. Separate Property

The commonwealth of Pennsylvania recognizes two types of property: marital property and separate property.

Marital property is loosely defined as all property acquired during a marriage. Marital property is the only type of property that will be divided between spouses in a divorce. Property that is commonly considered marital property can include jointly-held bank accounts, retirement assets, real estate properties, vehicles, and more.

Separate property includes assets acquired by either spouse prior to the marriage or separate from the marriage, such as a gift from a friend.

What Is Equitable Distribution?

Pennsylvania divides marital property between spouses through a process known as equitable distribution. Essentially, with equitable distribution, a judge will determine what he or she considers to be a fair and just distribution of assets. In most cases, this is not a 50/50 split of assets. Hire an alimony lawyers in Chester County at Berman Voss.

What Factors Are Considered When Dividing Property In Pennsylvania?

Some of the most common factors that may be considered when distributing marital property in Pennsylvania are the following:

• The duration of the marriage
• The extent to which each spouse contributed toward the growth or dissipation of marital assets
• The need for liquidation or sale of certain assets
• The standard of living established over the course of the marriage
• The child custody agreement
• The earning capacity of each spouse
• Whether there is an alimony agreement in place
• Each spouse’s yearly income; and
• Any other factor the judge deems relevant

Common Property Division Disputes

Property division is rarely straightforward, and disputes can arise over nearly any type of asset. One of the most frequent sources of conflict is real estate. A divorcing couple may disagree on whether to sell the family home, who should remain in it or how to divide the proceeds. Business ownership also leads to complex disputes, particularly when one spouse started a business before marriage but the other contributed to its growth.

Retirement accounts are another common point of contention. Even if only one spouse’s name is on the account, funds accumulated during the marriage are typically considered marital property. Disagreements overvaluation, tax implications, and distribution methods can complicate the process. Personal property, such as jewelry, artwork, and collectibles, can also be disputed, especially if the sentimental or financial value is high.

The right to legal representation is crucial when navigating property division disputes. A property division lawyer can help ensure a fair distribution and protect your financial interests. If you are divorcing in Chester County, Berman Voss can guide you through the process.

The property division lawyer you choose to represent you is paramount. Speak with a Berman Voss attorney about representing your interests in equity distribution.

Disclosure:

This website offers general information and is not intended as formal legal advice. Do not rely on this general information for making legal decisions. Each legal situation is unique and requires personalized attention from a qualified attorney. The firm’s lawyers are not your legal representatives unless a formal representation agreement has been signed with Berman Voss Attorneys at Law.