One of the most challenging aspects of divorce that you and your spouse will have to navigate together is how to best split your property. To help safeguard your rights during your divorce proceedings, you must become familiar with how the courts classify which property are marital assets and which are not.
How is marital property divided in Pennsylvania?
Pennsylvania courts follow the equitable distribution model to divide a couple’s accumulated assets and debts. Under this principle, the court will seek to allocate you and your spouse’s marital assets fairly.
To help determine this, the court will consider several key factors, including:
- The length of your marriage
- Each of your ages, health and education
- Each of your homemaking contributions
- Each of your economic circumstances
- Each of your incomes
- Your child custody order
Additionally, if one of you contributed to the other’s education or training, this factor will also be part of your marital property determination.
What will happen to our nonmarital property?
Since the court only divides marital property, any nonmarital property owned by each party will not be subject to division, with some exceptions.
Four common examples of nonmarital property include:
- Assets owned before marriage
- Inheritance
- Gifts
- Any property excluded on a prenuptial agreement
However, if one of you spent your nonmarital funds to improve a marital asset (e.g., family business), they will become commingled assets and turn into marital assets.
Take it one step at a time
While you and your spouse begin to untie the knot and prepare to settle the terms of your divorce, you must both remember to breathe and walk at each other’s pace. Only by doing so will you be able to think things through with fairness and efficiency.
