One of the most important steps of a divorce is dividing a couples' financial and personal property. Whether it is retirement savings, the marital home, or even a family pet, the division of property can be one of the most contentious decisions that couples will need to resolve.
A skilled divorce attorney can ensure a fair division of the marital state you are entitled to in order to help build and maintain your new life.
At The Law Office of Jason R. Carpenter, we are committed to protecting your rights throughout the divorce process. Our skilled team will work closely with you to protect your wishes and find an effective resolution to your divorce.
Marital vs. Separate Property
When dividing assets during a divorce, it is important to first identify whether an asset or a debt is marital or separate property. Marital property applies to those assets and debts that a couple accumulated during the course of their marriage.
Separate property refers to those assets and debts that a spouse had prior to the marriage or after the couple separated. It is also possible that some property acquired during the marriage, such as a gift or an inheritance, is also separate property.
Understanding Equitable Distribution
In Pennsylvania, courts, parties, or Divorce Masters divide marital property equitably, not necessarily equally, between both spouses. Unlike community property states, in Pennsylvania, equitable distribution does not necessarily mean a 50/50 split of your marital assets.
The courts and attorneys will weigh a number of factors when determining the final division of assets such as:
- The length of the marriage
- The income and assets of both spouses
- The parent who will serve as the primary caregiver of the children
All of these and more will impact the distribution of marital assets.
Our Firm Will Help You Develop a Plan to Secure a Fair Division
Working with a skilled lawyer who will advocate for your interests is critical. You may know some of what you are entitled to, however people often miss or forget assets. Our firm takes time to learn about your needs and develop a plan secure a fair division of assets on your behalf.
It is important to note that it is not necessary for a couple to have a court divide their assets. If both spouses largely agree on the division of assets, a Marital Separation Agreement can be reached and may be a great option. This saves time and money and helps couples to avoid a contentious courtroom fight.
Contact Our Harrisburg Divorce Attorneys Today
No matter how simple or complex your divorce is, it is crucial to collaborate with a lawyer who is focused on your needs. We will diligently work to achieve a favorable outcome at an affordable price.