Equitable Distribution Of Assets And Debts In Pennsylvania
Houses, cars, 401(k)s, IRAs, military pensions … Fairly dividing these assets are some of the greatest challenges you will face while going through a divorce. A mistake during the property division process can leave you without the financial resources you need for your future.
Don’t Divide Your Assets Without The Help Of A Lawyer
At Rowe Law Offices, P.C., our property division lawyers have extensive experience handling divorce and other family law issues. Let us handle your issues of property division incident to divorce or co-ownership situations. Assets and obligations often include:
- Real estate holdings
- Business assets and business ownership interests
- Marital debts and obligations
- Student loans incurred by one or both spouses
- Retirement assets, accounts and benefits, and employee and military pensions
- Tax obligations incident to property division
Sometimes, a soon-to-be ex-spouse has not been truthful about his or her spending or savings. We will track down hidden assets to make certain you are receiving all to which you are entitled.
Dividing Property Between Unmarried Parties
What if you bought property with someone you’re not married to? In Pennsylvania, the process of equitably dividing joint property between unmarried cohabitants or unmarried partners is called “partition.” If you purchased real estate or personal property with someone such as a boyfriend, girlfriend, family member, etc., we can help you keep your interest in the property, even if there is conflict and animosity.
If you are planning to marry, a prenuptial agreement may help provide you with peace of mind about the financial security of your children from a prior relationship, keeping property or heirlooms in your extended family or simply keeping assets and debts separate in your marriage. Postnuptial agreements are similar to prenuptial agreements, but are created after the wedding, allowing couples to delineate who is responsible for each asset or debt.
Common Property Division Questions
Let us answer all of your questions regarding property division. Questions we often hear include:
- Should I fight for the house or should we try to sell it?
- Is my spouse entitled to part of my pension or retirement account?
- Am I entitled to part of my spouse’s business?
- What if my spouse is hiding assets?
- Will I be responsible for any of my spouse’s debts?
- Am I entitled to alimony?
- How do I protect my business?
- What about property or money that I inherited?
- What will happen to the debts accumulated during the marriage?
- How long will I have to pay alimony?
- How does child custody impact the distribution of assets?
- All of the property is in my spouse’s name — does that mean I get nothing?
We will listen carefully to your questions and concerns. Then, we will help you explore ways to protect your financial future. If you and your spouse can negotiate how to divide the assets and debts, we can draw up a property settlement agreement for you. If you cannot agree, we can discuss how the divorce master’s process works to have the case decided through the court process.
Contact Us For A Free Consultation Today
Learn more about property division during your free, no-obligation initial consultation. You can contact us online or call us at 610-816-0935 or 866-232-1913. We assist individuals throughout Pennsylvania and from out of state.