Dividing Marital Property In A Pennsylvania Divorce
The fundamental feature of every divorce is the division of assets. After the divorce is complete, assets that once belonged to both of you will normally belong to one or the other as a newly single person. Even when spouses are in business together, it is common for one spouse to buy out the other or exchange other assets – such as the marital home – for business assets.
What special circumstances or concerns regarding asset division are on your mind as you are approaching a Pennsylvania divorce? Bring them to my attention at my law firm, John D. Sisto, P.C. I will help you order your priorities and devote your efforts to keeping assets that mean the most to you, if possible.
Factors That May Figure Into Your Asset Division
Pennsylvania expects divorcing spouses to carry out an equitable division of marital assets. It will not necessarily be a 50-50 split. Facts such as the following may influence a family law judge who hears your case:
- Identification of the separate property that one or both of you brought into the marriage or purchased during the marriage using separate financial resources
- The length of the marriage
- The age, health, income and employability of each
- Any contributions that either gave the other in support of education, vocational skills or earning power
- The access that each is expected to have for future income, capital assets, health care, insurance, retirement and other needs
- The standard of living established during the marriage
- The projected tax consequences of any proposed division of assets
- The designation of either spouse as the custodial parent of mutual minor children
For nearly 30 years, I have been helping residents of Altoona and surrounding communities in Blair, Bedford and Cambria counties who needed to divide assets in divorces. I try to keep things straightforward for my clients’ sake whenever possible.
If you and your spouse cannot readily agree on how to divide your assets equitably, I can help you arrive at an answer through settlement negotiations, mediation or litigation.
Let’s Discuss How You May Divide Assets Equitably
Get answers to your questions about divorce and get an idea of the legal processes ahead of you, including property division. To schedule a free initial consultation, call 814-425-5415 or complete an online inquiry form.