Equitable Distribution in Pennsylvania: Although there are some exceptions, assets acquired during the marriage, regardless of how they are titled, are part of the marital estate and therefore subject to equitable distribution. This will include such assets as real estate, pensions, 401ks, IRAs, businesses, brokerage accounts, stock options, stocks, CDs, money market accounts, bank accounts, the cash values of life insurance, automobiles, jewelry, and personal property.
Gifts from third parties and inheritances are excluded as marital assets. However, if these gifts were used to make a joint purchase or put in a joint home, the jointly purchased property is included as a marital asset.
At Ciccarelli Lawyers work to trace the assets to ascertain exactly what should be included and excluded from the marital estate. We work carefully with our clients to determine just what is in the marital estate. Often we engage experts to value businesses or real estate. Our goal is to ensure all assets are located and that the correct value is assigned to each asset.
We help clients determine which assets are to be included or excluded from the marital estate, and decide whether we need to have assets such as real estate, businesses or other assets professionally appraised. We regularly use forensic accountants and business valuators to help determine the full extent of the assets to be divided.
Factors When Determining Marital Property Division
When determining an equitable division of marital property, the court considers eleven factors. Among them are which spouse is the custodian of the minor children, which spouse is earning more money and has the ability to earn more money, and whether either has money set aside in his or her own name that is not marital property. The court then determines what it believes to be an equitable division of assets.
We make your choice all the clearer with locations throughout the metropolitan Philadelphia Pennsylvania, including Center City Philadelphia, West Chester PA, Downingtown/Exton PA, Kennett Square PA, Lancaster PA, King of Prussia PA, Plymouth Meeting PA, Radnor and Springfield PA. We serve Chester County, Delaware County, Lancaster County, Montgomery County and Downingtown, Paoli, Media, Norristown, Harrisburg, Lancaster, Lebanon, Reading and Allentown. For more information or to schedule an appointment with an experienced Pennsylvania Divorce Attorney at Ciccarelli Lawyers, by contacting us at (610) 925-2500 or toll free at (877) 529-2422.
