In Southeastern, PA, what is considered “marital property?”

During a divorce, parties must agree on equitable distribution of marital property. This includes both real and personal property. Separate property may include gifts such as the engagement rings, exclusions that are taken into account in a post- or pre-nuptial agreement, as well as items that were obtained before the marriage or after the separation of the parties. This property should be maintained by the individual who owns it but its increase in value is marital no matter how titled, as well as gifts and inheritances received from third parties, although their increase in value from date of marriage or later receipt to date of separation is considered marital. However, marital property is different.

Marital property is property or assets that were obtained during the marriage. This may include real estate, retirement accounts, bank accounts, vehicles, furniture, and business property. All of this must be divided fairly between the individuals to ensure equitable distribution. However, there is often disagreement between the parties in regards to what should be split, which is when a reputable divorce lawyer in the Southeastern, PA area should be considered. Jack Rounick can help in negotiating with the other party and their attorney to determine a fair settlement. Otherwise, a Pennsylvania judge may make the final decision regarding the way marital property is divided if the parties cannot come to an agreement. Avoiding this impasse is the best way to ensure fair distribution and avoid lengthy, expensive court costs and lawyer’s fees associated with this type of hearing.

Jack Rounick is a divorce lawyer who can help his clients understand the laws surrounding equitable distribution of marital and separate property in the state of Pennsylvania. Understanding how the assets were obtained can help him in supporting you and ensuring you receive what you are entitled to in your divorce. Additionally, he is well versed in handling other situations including child custody, child support, and spousal support/alimony calculations.

If you live in Southeastern, PA, and you are considering a divorce, it is important to have a professional on your side to guide you through the process and ensure you get what you are entitled to. Contact the Law Offices of Jack A. Rounick, LLC today for a consultation visit to find out if he can help you with your legal needs.