Marital property includes almost everything you and your spouse obtained during the marriage. This category covers income, real estate, vehicles and retirement accounts regardless of whose name appears on the title. Pennsylvania law presumes most assets obtained between the wedding date and the date of separation belong to the marriage.
Pennsylvania is an equitable distribution state
Judges in Pennsylvania divide marital assets based on principles of fairness rather than a strict 50/50 split. The court examines factors like the length of the marriage, the standard of living and each person’s economic circumstances to decide the division. This approach allows flexibility to ensure a just outcome for both parties.
What assets can you really retain after a divorce?
Not everything falls into the marital pot during a divorce settlement. You generally maintain ownership of property that you held exclusively before the marriage or received specifically as a gift.
- Property acquired prior to the marriage
- Gifts received from someone other than your spouse
- Inheritances left specifically to you
- Assets excluded by a valid prenuptial agreement
- Certain veterans’ disability benefits
You must prove these assets remain separate through clear documentation. Commingling separate funds with marital accounts often turns your personal property into marital property.
Securing your financial future
Dealing with the nuances of equitable distribution after a divorce requires a clear strategy to secure your interests. An experienced attorney identifies which assets constitute marital property and advocates for a fair division based on your specific situation.