Property division is an important part of the divorce process for most divorcing spouses. What property they will receive is an understandable concern for the divorcing spouses. To help them better prioritize and negotiate their interests during the property division process, it is helpful for divorcing couples to be familiar with the property division process.
How property division is determined in Pennsylvania
When the family law court determines property division during the divorce process, factors that are considered during the property division process can include:
- The income and liabilities of each of the spouses;
- The duration of the marriage;
- The ages and health of each of the spouses;
- Any expected pensions or retirement benefits of the spouses;
- The ability of each of the spouses to provide for themselves;
- Tax consequences of the property division;
- Any obligation of the spouses from a previous marriage; and
- Any other factors the family court considers property to evaluate.
In Pennsylvania, property is divided during divorce according to equitable property division which means that the property will be divided as fairly as possible. An equitable division of property will be the goal of the property division process.
It is important to remember that generally only marital property is divided during the divorce process. Marital property is generally property acquired by the couple during the marriage. Divorcing couples are encouraged to agree to a property division settlement agreement but if they are unable to do so, the court will use these factors to determine a property division settlement.
