Close Window X
Rowe Law Offices, P.C.
Call today to schedule a free consultation
610-816-0935 866-232-1913

Property Division Archives

Protection of real estate and businesses from possible divorce

Although prenuptial agreements present a legal tool for establishing ownership of assets between married people in the event of a divorce, not all Pennsylvania couples with asset protection concerns have one. Other legal options, however, enable a person about to enter marriage to establish that certain assets, like real estate and businesses, are non-marital assets.

Splitting artistic property in a Pennsylvania divorce

An artist who creates a new work generally owns the copyright to that work. This means that the artist alone can make money from it in the future. However, in a divorce case, any copyrights owned by the artist may need to be shared with the other spouse. In some cases, this means agreeing to put a value on work produced during the marriage whether it is up for sale or not.

Property division and credit considerations

Pennsylvania couples who are preparing to divorce need to be aware that the property division made or approved by the court will also involve a division of the debts incurred during the marriage. Despite the allocation of a debt to one spouse for repayment, however, creditors may legally still try to enforce payment by the other spouse, as they are not bound by these family court orders.

Houses and property division in divorce cases

In many cases, a Pennsylvania couple who is divorcing will own a home which they purchased after they were married. Even in cases in which the mortgage of a house that was purchased after marriage only lists one person, the home will still be considered marital property and thus subject to division.

Property division in Pennsylvania divorces

Pennsylvania couples whose marriages are ending know too well that there are many issues that need to be considered. If the couple has one or more children, then the matters will include the determination of legal and physical custody as well as the amount of child support to be paid. In other cases there may be a question of whether one party will be required to pay spousal support. One issue that is universal, however, is the determination of property division.

Marital asset and debt identification, distribution explained

When it comes to settling a divorce, Pennsylvania is an "equitable distribution" state. This does not mean that in the process of a divorce the marital property is divided equally. Rather, the marital property is separated based on what is considered fair by the Court of Common Pleas. Because this is a subjective exercise, the court takes numerous factors into consideration before making this decision.

Property division during a Pennsylvania divorce

Pennsylvania couples going through a divorce have several issues to resolve throughout the divorce process. Property division is often a part of the divorce that can quickly turn acrimonious. Spouses may feel entitled to certain items acquired before or during the marriage. If either spouse owned a business during the marriage, there are more items to discuss.

What to do with a home in divorce

For some Pennsylvania couples who are going through divorce, property division is simple and straightforward. When the couple rents a home, there's no concern about dividing the property. The couple can find separate places to live once the lease runs out. However, when a couple owns a home together, there may be more of a challenge posed. In rare cases, a couple with the means to do so may retain joint ownership of the home and sell it when the market seems ideal. However, it's commonplace for one member of the couple to buy out the other's half of the home. The home can also be sold and the profits split.

Consideration of retirement accounts in divorce settlements

As Pennsylvania residents who follow social trends know, the American divorce rate for older couples has jumped from mere 2 percent of divorced individuals 50 and over in 1960 to between 11 and 15 percent in 2010. This age-specific evolution changes the asset dynamics of a divorce. Retirement accounts are an increasingly important part of asset division. In one study, almost one-third of divorcing adults were unaware they could claim part of their spouse's retirement account and did not do so.

Have Questions? Get A Free Case Review

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Email Us For A Response

Wyomissing Office
1200 Broadcasting Road
Suite 101
Wyomissing, PA 19610

Phone: 610-816-0935
Wyomissing Law Office Map

Lancaster Office
8 N. Queen Street
Suite 1102
Lancaster, PA 17602

Phone: 717-382-8360
Lancaster Law Office Map

Allentown Office
1248 Hamilton Street #201
Allentown, PA 18102

Allentown Law Office Map

Berks or Montgomery counties or the Lehigh Valley: 610-816-0935 Lancaster or York counties: 717-382-8360 Schuylkill County: 570-362-6837 Toll Free: 866-232-1913