As an equitable distribution state, Pennsylvania law requires family judges to divide assets ‘fairly’ but not necessarily equally. The court can consider factors such as prenups, child rearing, and the value each party added (or didn’t add) to the marriage.
Discuss your marital property rights with our experienced divorce attorney at McDonald Meyers Law in Harrisburg, PA.
Understanding Pennsylvania’s Equitable Distribution Laws
Pennsylvania family courts have the right – upon the request of either party – to assign and distribute marital assets based on what’s fair. For example, the court could technically distribute 90% of the marital estate to one party. The judge might also award 100% of the marital home to one spouse but 100% of the stock options to the other. Unlike in community property states, where all marital assets are split 50/50, you need an experienced advocate on your side during high-value Harrisburg divorces.
Classifying Property in High-Asset Divorce Cases
Not all property is subject to distribution during divorce proceedings. The court must first determine if the assets or debts in question are separate, marital, or mixed. Many high-asset divorces involve inheritances, student loans, joint businesses, and assets acquired with pre-marital income. These assets will fall into one of the following categories:
Separate Property
Defined as property, including homes or liquid assets, obtained before your marriage. Inheritances and gifts to one party, but not the other, during the marriage are also considered separate and not subject to equitable distribution.
Marital Property
Assets and liabilities obtained by one or both spouses during the marriage. Even independent wages earned during the marriage, including any pensions that vested, are generally considered part of the marital estate. Pennsylvania law also considers engagement rings part of the marital estate, not a separate one.
Comingled (Mixed) Assets
High-asset divorce cases often involve comingled assets, when one party takes separate property, such as an inheritance, and mixes it with marital property. This most often occurs when one spouse owned a home before the marriage and sold it to purchase a marital home. These cases require dedicated advocacy and asset tracing by our experienced property distribution attorney in Harrisburg.
Factors Considered During Marital Property Distribution Proceedings in Dauphin County
The parties may agree on the distribution and classification of certain assets while requesting equitable distribution as to others. In such cases, the court must consider the following factors under 23 Pa. C.S. § 3502:
- Marriage length
- Prior marriages
- Income, skills, vocation, age, and employability
- Contributions to one party’s education or increased earning power
- Future acquisitions of capital assets and income
- Homemaking skills
- Value of separate assets
- Standard of living during the marriage and economic circumstances
- Taxes and expenses
- Child custody
The court considers these factors for each asset and liability, not as a whole. Dedicated advocacy is essential for ensuring you receive your fair share of the marital estate in Pennsylvania.
Our High Asset Divorce Attorney Can Help
Do not settle for splitting assets 50/50 during high-value dissolution proceedings if you’re entitled to a higher share. At McDonald Meyers, our dedicated estate planning lawyer in Harrisburg, PA, thoroughly examines each asset, advocates for the correct classification, and ensures the court considers all relevant factors in making fair property distributions. Call (717) 799-8546 or contact us online today.
