Factors That May Affect the Division of Property
Posted on April 15th, 2019 in Family Law
According to the Center for Disease Control and Prevention, Pennsylvania had a divorce rate of 2.8 per 1,000 population in 2012. These statistics reveal just how many people in the state are separating, some of whom may struggle with the division of their assets.
When people file for divorce throughout Pennsylvania, there are numerous legal matters they may have to deal with, such as alimony and child support. However, property division can be especially challenging. For example, those who have business assets, marital property which holds sentimental value, retirement accounts and other types of property may have questions and concerns regarding the division of marital property. As a result, people who are preparing to file for divorce should meticulously analyze their situation.
On the Pennsylvania General Assembly’s website, people can review some of the different factors that courts may take into consideration when determining the division of property. Some factors that courts will take into account include the duration of a marriage, previous marriages, the health and age of each party, as well as their income and employability. Additionally, any contributions from one party towards the other party’s education or earning ability and whether a parent will serve as the custodian of a minor, are also taken into consideration. Other factors include:
- property values
- tax consequences
- marital standard of living
Those who are interested in finding out more about Pennsylvania laws concerning the distribution of property obtained during the marriage or are considering a divorce, contact Kalinoski Law Offices today!