Berks County, Pennsylvania Division of Property Attorneys Near Reading

• assets acquired from the date you got married to your Separation Date (the date you separated from your spouse); plus
• the increase in value of certain non-marital property in that time period. Examples of Marital Property include:
  
  • Real Estate;
  • Stocks and Bonds;
  • Bank Accounts;
  • Cars;
  • Boats;
  • Deferred Compensation;
  • Pensions and 401k's;
  • Cash Value of Life Insurance Policies;
  • Home Furnishings;
  • Memorabilia;
  • Electronics;
  • Art;
  • Antiques;
  • Horses;
  • Pets;
  • Wine Collections;
  • Cemetery Plots and Prepaid Funeral Arrangments;
  • Rare Coins;
  • Stamp Collections;
  • Intellectual Property;
  • Retained Earnings from a Business Owned by Either Spouse;
  • Memberships;
  • Classic Cars; and
  • Anything Else of Value.

The list is not all-inclusive but is meant to help you think of the types of things to include in Marital Property.

• property acquired by gift;
• property acquired by inheritance;
• premarital property; and
• property excluded by a prenuptial agreement.

• The goal of Equitable Division is not the 50/50 distribution of assets. Theoretically the split could be between 0/100 to 100/0.
• The court does not consider marital misconduct in determining the distribution of Marital Assets.
• The court uses 11 subjective guidelines in determining fair and equitable distribution of assets. Here's a direct excerpt from § 3502 of the Pennsylvania Divorce Code:
  Factors which are relevant to the equitable division of marital property include the following:
  (1) The length of the marriage.
  (2) Any prior marriage of either party.
  (3) The age, health, station, amount and sources of income, vocational skills, employ ability, estate, liabilities and needs of each of the parties.
  (4) The contribution by one party to the education, training or increased earning power of the other party.
  (5) The opportunity of each party for future acquisitions of capital assets and income.
  (6) The sources of income of both parties, including, but not limited to, medical, retirement, insurance or other benefits.
  (7) The contribution or dissipation of each party in the acquisition, preservation, depreciation or appreciation of the marital property, including the contribution of a party as homemaker.
  (8) The value of the property set apart to each party.
  (9) The standard of living of the parties established during the marriage.
  (10) The economic circumstances of each party at the time the division of property is to become effective.
  (10.1) The Federal, State and local tax ramifications associated with each asset to be divided, distributed or assigned, which ramifications need not be immediate and certain.
  (10.2) The expense of sale, transfer or liquidation associated with a particular asset, which expense need not be immediate and certain.
  (11) Whether the party will be serving as the custodian of any dependent minor children.