Here to guide you and advocate for you in the division of the marital estate.
In Pennsylvania “marital property” means all property acquired by either party during the marriage and the increase in value of any non-marital property acquired. However, marital property does not include:
- Veterans’ benefits exempt from attachment, levy or seizure pursuant to the act of September 2, 1958 (Public Law 85-857, 72 Stat. 1229), as amended, except for those benefits received by a veteran where the veteran has waived a portion of his military retirement pay in order to receive veterans’ compensation.
- Property to the extent to which the property has been mortgaged or otherwise encumbered in good faith for value prior to the date of final separation.
- Any payment received as a result of an award or settlement for any cause of action or claim which accrued prior to the marriage or after the date of final separation regardless of when the payment was received.
- Property acquired prior to marriage or property acquired in exchange for property acquired prior to the marriage.
- Property excluded by valid agreement of the parties entered into before, during or after the marriage.
- Property acquired by gift, except between spouses, bequest, devise or descent or property acquired in exchange for such property.
- Property acquired after final separation until the date of divorce, except for property acquired in exchange for marital assets.
- Property which a party has sold, granted, conveyed or otherwise disposed of in good faith and for value prior to the date of final separation.
Pennsylvania states that the increase in value of any non-marital property acquired pursuant to subsection shall be measured from the date of marriage or later acquisition date to either the date of final separation or the date as close to the hearing on equitable distribution as possible, whichever date results in a lesser increase.
REQUEST CONSULTATION
[/column]