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Equitable Distribution / Marital Property Distribution

Blue Bell, Pennsylvania, Equitable Distribution Lawyer

The divorce lawyers at Shemtob Law, P.C. are experienced in handling property distribution cases. In Pennsylvania, the court is to divide all marital property in an equitable manner. However, the term "equitable division" does not necessarily refer to an equal division. Contact us to learn more about that to which you may be entitled.

Marital Property Defined

Although there are some exceptions, assets acquired during the marriage, regardless of how they are titled, are part of the marital estate and therefore subject to equitable distribution. This will include such assets as real estate, pensions, 401ks, IRAs, businesses, brokerage accounts, stock options, stocks, CDs, money market accounts, bank accounts, the cash values of life insurance, automobiles, jewelry, and personal property.

Gifts from third parties and inheritances are excluded as marital assets. However, if these gifts were used to make a joint purchase or put in a joint home, the jointly purchased property is included as a marital asset.

At Shemtob Law, P.C., our attorneys work to trace the assets to ascertain exactly what should be included and excluded from the marital estate. We work carefully with our clients to determine just what is in the marital estate. Often we engage experts to value businesses or real estate. Our goal is to ensure all assets are located and that the correct value is assigned to each asset.

We help clients determine which assets are to be included or excluded from the marital estate, and decide whether we need to have assets such as real estate, businesses or other assets professionally appraised. We regularly use forensic accountants and business valuators to help determine the full extent of the assets to be divided.

Factors When Determining Marital Property Division

When determining an equitable division of marital property, the court considers eleven factors. Among them are which spouse is the custodian of the minor children, which spouse is earning more money and has the ability to earn more money, and whether either has money set aside in his or her own name that is not marital property. The court then determines what it believes to be an equitable division of assets.

Family Law Issues for Same-Sex Partners

Although Pennsylvania does not recognize same sex marriages or civil unions, that does not negate the fact that gay and lesbian partners who have lived together have issues of property division. We at Shemtob Law, P.C. try to reach a fair and reasonable solution to division of assets acquired over the course of the relationship. Further, our attorneys are also experienced in drafting cohabitation agreements, which work to clearly define the rights and obligations of each person in the event the relationship ends.

Contact Shemtob Law, P.C. today to learn more about marital property distribution and how we can help you.

Divorce and family law attorneys of Shemtob Law, P.C., located in Blue Bell, Pennsylvania, serve clients in Main Line and Upper Main Line communities, such as Gladwyne, Lower Merion, King of Prussia, Norristown, Narberth, Wynnewood, Ardmore, Haverford, Bryn Mawr, Villanova, St. Davids, Radnor, Wayne, Strafford, Devon, Berwyn, Paoli, Malvern and Valley Forge. Our law firm also represents clients from surrounding communities, such as Newtown Square, Media, West Chester, Doylestown, Fort Washington, Yardley, and New Hope and throughout Bucks County, Montgomery County, Chester County, Delaware County, and Philadelphia County.