Equitable Distribution During a Divorce in PennsylvaniaNovember 11, 2012
Divorcing spouses who do not reach an agreement about how the property (money, real estate and other assets) that they acquired during the marriage will be divided must go through litigation so the court can equitably divide their marital property. Equitable distribution does not mean that property is divided equally; rather, the law requires that it be split in a “fair and just” manner.
When the parties cannot resolve the issues as to how their marital property will be divided, a Court must resolve their dispute. When doing so, the court will consider many different factors, including the length of the marriage, and the income and earning potential of the parties, to determine how assets will be divided. In most divorce proceedings, identifying and valuing marital assets is the first step toward resolving the issue of equitable distribution under Pennsylvania law. If the spouses have significant marital property, or large debt, the process of dividing their property can seem daunting.
In addition, not all property is divided. Some assets may be considered separate or non-marital. This includes inheritances and gifts received by one party, as well as property acquired by one party prior to the marriage.
Whether you want to negotiate a settlement agreement with your spouse, or must go to court to resolve equitable distribution issues, the Harrisburg, Pennsylvania Family Law attorneys at Daley Zucker will protect your interests and help you. Contact us to learn how our attorneys can help you.