Divorce is often contentious, and one of the most commonly-disputed divorce issues is property distribution. Often, a property division agreement must be determined by a judge. Read on to learn more about how property is distributed in PA divorces and speak with the seasoned Pennsylvania property distribution lawyers at Berman Voss today.
Yes. Many spouses don’t realize just how much may be at stake in their divorce. No matter who you are, you have a lot on the line, and it is imperative that you hire competent Pennsylvania divorce lawyers who can fight for your best interests at every turn. With Berman Voss, your case is in good hands.
The Commonwealth of Pennsylvania recognizes two types of property: marital property and separate property. Essentially, separate property includes assets acquired by either spouse prior to the marriage or separate from the marriage, such as a gift from a friend.
On the other hand, 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.
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.
Some of the most common factors that may be considered when distributing marital property in Pennsylvania are as follows:
The property distribution lawyer you choose to represent you is paramount. Speak with Berman Voss today.
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