When two households merge, it can be difficult to determine over the years how to equitably distribute the martial property when the couple divorces. There are items that one individual may have brought into the marriage as well as items that were obtained during the marriage. Dividing this may seem like an insurmountable task for a judge to take on, but there are ways in which the “big ticket items” are accounted for and are addressed accordingly.
Attorney Jack A. Rounick is a family law attorney who has dealt with many divorces and the dividing of marital property for many Eastern PA couples. He understands how confusing the court system can be and can work with one spouse in determining the best way to divide assets.
In the Pennsylvania courts, martial property is determined as anything that was acquired by both parties during the time of the marriage. It does not matter whose name is on the property, it must be divided equitably. Determining martial and premarital property is the first step for any judge to consider.
After property and assets have been determined marital, it must be decided how they are equitably divided. This step requires the courts to determine the “value” of these assets. After that, the items are dispersed in the best way possible to make sure each spouse receives an equitable amount of “marital property value” at the end of the divorce.
However, there are always many methods of determining martial property and this is where having a quality lawyer is to one’s advantage. A lawyer will be able to recognize what is and is not marital property and can help defend ones right to keep their personal assets. This may include inheritance from family members, specific gifts given to one person in the marriage, or savings and retirement funds which were well established before the marriage took place. Protecting these assets is important and can be done with the assistance of Attorney Jack A. Rounick. He can also reference prenuptial and postnuptial agreements to ensure that they are followed appropriately, and he can also work with the family court to equitably distribute debts, real estate, and other financial aspects of the divorce proceedings.