Berman & Asbel, LLP

Older Pennsylvania couples may face property division troubles

The longer a Pennsylvania couple is married, the more assets are typically accumulated that could potentially be considered marital property. As a result, if the couple decides to divorce later in life, property division could be a bit more complex. Determining who may be entitled to what could be critical for older couples as their financial situations could be a bit more precarious in individual terms.

The accumulation of assets over the years means that there could be a considerable amount of varying types of property to look over. As a result, placing a value on all eligible property could take an extended period of time. The situation can be even more difficult if a couple does not agree on the appraisals of certain items.

As the assets are being divided, it is important to remember that it is not likely that each spouse will end up with a neat half of the assets. One spouse may be considered to be at more of a disadvantage than the other spouse, and therefore, they could potentially be entitled to a larger portion of the assets. Understanding what factors could play a role when it comes to property entitlement could help individuals have a better grasp on the situation.

Property division is often one of the more complicated aspects of the divorce process. When a large number of assets must be considered, a couple may not be able to handle the situation on their own. Therefore, they may wish to look into Pennsylvania state laws concerning property division to determine how their state handles such proceedings and what their best route may be.

Source: Houston Chronicle, Divorcing seniors face unique challenges, No author, Jan. 13, 2014

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