For anyone considering dissolution of marriage, one of the major concerns often is the division of marital property. In Pennsylvania, marital property is any property or asset accumulated during the marriage. Gifts and inheritances are usually not included, but any other property with a transferable value — including cars, homes, investments and furniture — is marital property. In addition, couples may have non-marital property, which is property a spouse acquired before the marriage or after the separation.
If you are considering divorce, it’s important to protect the assets and the property you have acquired through your hard work. Contact a division of marital property attorney in Berks County or your area about your rights.
Keep in mind that under Pennsylvania law, you do not have to contribute equally to a property for the court to rule it as marital property. Even if you don’t contribute any money during the marriage, Pennsylvania considers both partners in a marriage to be contributing partners — you may have rights to a portion of any property acquired during the marriage.
Two Ways Courts Decide Division of Marital Property in Reading, PA or Your Community
There are two ways that courts divide property during a divorce:
- Mutual agreement: Couples can sit down and discuss the division of marital property in Reading, PA or their communities. They can work with a mediator or come up with an agreement themselves. When both parties agree, they can submit a description of their agreement to the courts, and courts will generally agree.
- The court system: In cases in which there is some contention about the division of assets and property, the court system can decide what would be fairest. Generally, you want to avoid this situation, since the courts may not have the same definition of fairness as you do. If you have trouble agreeing to the provisions of a divorce, contact a division of marital assets attorney in Berks County or your area so your rights are represented, and you and your spouse can divide assets fairly.
Factors That Could Affect Division of Marital Assets
Courts rarely split assets down the middle. Instead, they take many factors into consideration when determining how to divide property and assets. For example, they will consider post-nuptial and prenuptial agreements, as well as the financial needs of any minor children, previous marriages and the financial situation of both parties.
Division of assets can be complex, which is why it’s important to consult with a division of marital assets attorney in Reading or your region. If you’d like to consult with an attorney, contact Miller Law Group to speak to a division of marital assets attorney in Reading, PA or your community.
Our attorneys are compassionate, caring professionals. We not only advocate passionately for your rights, but we also take the time to explain the law to you. We understand that divorce can be a challenging time, and we do our best to support you in this process.