In every household, certain pieces of property become especially important. It might be a retirement account, the family home, an heirloom, or sentimental collection. When your marriage breaks down, you need an attorney who can protect your marital property by negotiating divorce property settlement that focuses on what matters most.
Media, PA Divorce Property Settlement Attorneys, Helping You Protect What Matters Most
At Berman & Associates, our divorce attorneys have helped thousands of families in Delaware County, Montgomery County, Philadelphia County, and Chester County reach a divorce property settlement they can build a new life on. We know that reaching a fair property settlement can be a difficult and often emotional process. We will help you identify your top priorities and advocate for the property that matters most to you.
Pennsylvania Divorce Property Settlement Options
Creating a Pennsylvania divorce property settlement isn’t about claiming your half of the assets. While many couples start from the position that an even split is best, they don’t have to end there. Pennsylvania is an “equitable division” state. That gives you the flexibility to negotiate a property settlement that reflects the reality of your situation.
If your divorce goes to trial on property issues, the judge has the authority to enter an equitable property division that he or she determines is fair and equitable for both sides. However, often this decision is based on the limited information presented at trial. It may not consider your emotional investment in a piece of property, or the financial obligations that come with maintaining it.
For example, many families treat pets as a member of the family, but by law they are personal property, just like the bed they sleep in. At trial, a pet will be awarded to one spouse or the other as part of their equitable property division. However, that may not consider
- The emotional ties each spouse and any children have to the animal
- The cost of vet care, supplies, food, and grooming
At Berman & Associates, we can help you negotiate with your spouse over property that may be more sentimental than valuable. We can also help you create a budget for your post-divorce situation, to make certain you can afford to keep the items awarded to you in a negotiated property settlement.
What Counts as Marital Property?
In Pennsylvania, divorce judges only divide “marital property” between the parties. This generally includes the property either spouse acquired during the marriage or with funds earned during the marriage. Some common marital property items include:
- Marital house
- Vacation properties and timeshares
- Boats and recreational vehicles
- Bank accounts
- 401k or 403b Retirement accounts and pensions
- IRAs, investments, and stock portfolios
- Personal items and collections
- Shares in a family business or small business
Many people come into marriage, especially second marriages or those entered later in life, with substantial assets of their own. Others receive inheritances from family members. Assets like these may be considered “non-marital property” and belong to the person who owned or received them, in addition to their equitable share of the marital property.
However, the line between marital and non-marital property isn’t always clear. At Berman & Associates, we can help you negotiate a property settlement that reflects your personal investment in your spouse’s otherwise non-marital property, making sure you are compensated for the work you did to grow that investment or maintain that property.
Berman & Associates: Knowledgeable Media, PA Divorce Attorneys
Contact us today to schedule a consultation with the divorce lawyers at Berman & Associates. We’ll help you plan for and negotiate a property settlement that is fair and practical and will provide you stability and support in the years following your Pennsylvania divorce.