Asset Division Can Be A Complicated Process
The assets that you accumulate during a marriage can be substantial. If you end up entering divorce proceedings, how you divide those assets can become a point of contention. While Pennsylvania state law offers a rubric for categorizing marital property, there are caveats and nuances that can warrant legal counsel.
Because no two divorces are identical, asset division matters can call for unique attention. At our firm, Silverblatt & Associates, we boast the experience necessary to guide you through the negotiation process with your best interests at the forefront. With strong ties to Wilkes-Barre and its surrounding communities, we have helped numerous clients with dividing their assets, and we can assist you as well.
How Will A Judge Divide Your Assets?
For asset division, Pennsylvania state law adheres to the concept of equitable distribution. What that means is that the court will divide your property in a manner that they deem fair. If you and your spouse cannot arrive at a settlement, the marital property — all property acquired during the marriage — will be subject to division by a judge who will consider several factors.
The aspects of your divorce that the court will account for can include:
• Income: A judge will consider the current income of you and your spouse before arriving at a decision. Your opportunities for future income and earnings are also pertinent.
• Duration: The length of your marriage matters. Whether or not you had a previous marriage can also be a factor.
• Property value: Your marital property’s value will be a consideration.
The roles that each spouse played in the appreciation of that value will also be weighed. While equitable distribution may feel like a formulaic approach to asset division, it is rarely a simple process. For that reason, an attorney with a background in this area can prove valuable. At Silverblatt & Associates, our lawyers can provide experienced advocacy in negotiations and, should it be necessary, the courtroom.
We Can Help Clarify Your Options
Divorce proceedings can be daunting, but the attorneys at Silverblatt & Associates can offer the guidance you need. If you would like to learn more about asset division, please call us today at 570-820-9800. You may also contact us by email via our Contact page.