Montgomery County PA Property Division Lawyer
Of all the decisions that need to be made during a divorce, property division can be one of the most difficult. By the time divorce proceedings are done, all property and finances will need to be distributed to the two people involved in the divorce.
No matter what circumstances are involved in your divorce, pursuing fair property division is vital in protecting your rights and ensuring a better future. By doing so, you will have the best chance at moving forward from the end of your marriage and protecting your rights, well-being, and chances at a fulfilling life.
With a call to the Law Offices of Sheryl R. Rentz at (866) 290-9292, you can receive a no-cost consultation on your rights from a Pennsylvania divorce property division lawyer. The information you gain concerning your unique case will help you avoid the mistakes that many uninformed divorcees make concerning their property.
Understanding Equitable Distribution in Pennsylvania
Pennsylvania is designated as an "equitable distribution" state, but what does this mean for your divorce?
In this case, "equitable" means fair, not even. So property will not necessarily be divided half and half between the two parties involved. Judges will take several factors into consideration when making decisions on what will be done with property. Considerations include marriage length, age of divorcees, sources and amount of income, previous marriages, property value, standards of living, taxes, effects on children, and more.
Anyone going into a divorce should understand how these factors can impact the decisions regarding your property. Gathering evidence and having clear goals will help you find success in your case and preserve the property that is most important to you.
What Properties are Affected?
All property that was bought after you were married is considered to be "marital property" and is to be divided. This may even include property bought after a separation, as you are still married during this time. However, if the property acquired after the date of separation was obtained using non-marital funds, then it is not considered to be a marital asset.
Depending on the length of a marriage, there may be countless pieces of property both large and small that must be divided. While some may cost more or have more emotional connections, they are all important and must be distributed during the process. Knowing what will be up for debate before discussions begin will help you protect your rights.
Marital property also includes job-related finances and other materials. The finances related to retirement plans, stocks, bonds, annuities, pensions, and more. These may be given fully to one person or split between them.
Not all property has to be directly given to one person or the other. Some, such as houses, can be sold and the profits can be split between the former spouses. Figuring out what is right for your situation will help you maintain a stable and fulfilling life post-divorce.
A Montgomery County Attorney Dedicated to Your Needs
The decisions made concerning property and finances will have a long lasting effect on the lives of both parties involved in a divorce. If you are entering into a divorce, do not leave your future well-being up to chance. Call Montgomery County property division attorney Sheryl R. Rentz and begin working toward a better future today. A free consultation is available by calling (866) 290-9292 and can start you off with the information you need to make the right steps in your divorce case.
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