Montgomery County Equitable Distribution of Property Attorneys
The divorce lawyers at Shemtob Draganosky Taylor are experienced in handling property distribution cases. In Pennsylvania, the court divides 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 your equitable distribution rights.
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 assets such 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 were put into a joint home, the jointly purchased property is included as a marital asset.
At Shemtob Draganosky Taylor, our attorneys work to ascertain exactly what should be included and excluded from the marital estate. When appropriate, 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.
Factors When Determining Marital Property Division
When determining an equitable division of marital property, the court considers several 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 their own name that is not marital property. The court then determines an equitable division of assets based on the specific circumstances of each case.
Contact Shemtob Draganosky Taylor today to learn more about marital property distribution and how we can help you.