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Category Archives: marital property
If you’re in the middle of a divorce in Pennsylvania, The Pennsylvania Divorce Code provides for Equitable Distribution of Marital Property. While it’s great to know this, what does it mean and how does it affect you and your divorce case? Below are a few explanations to help make sense of it all.
What date is used to value marital property during equitable distribution of the marital estate? Because the value of some assets fluctuates from time to time, the valuation date of marital property is generally the time of distribution unless the property is no longer in existence. In some instances, a date of separation value may […]
Marital Property is a property interest acquired between the date of marriage and final separation of husband and wife. Property is marital regardless of whether it is held in joint or individual names if acquired during this time period, unless it was acquired in exchange for pre-marital, gift or inherited property (non-marital or separate property). […]
While divorce between couples with low- to mid-level wealth is focused on ending the partnership peacefully, high net worth individuals (HNWIs) must evaluate the effect of a divorce on accumulated wealth through self-owned business operations. If both parties within the marriage contributed to the revenue from operations or growth of the business, the business is […]
Let’s start with defining what is not marital property, also known as non-marital property. Non-marital property refers to the following: 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 […]
What date is used to value marital property during equitable distribution of the marital estate? Because the value of some assets fluctuates from time to time, the valuation date of marital property is generally the time of distribution unless the property is no longer in existence. In some instances, a date of separation value may be appropriate, where an asset, such as a business, is in the sole control of one of the parties during the period of separation. A date of separation value does not necessarily require the imposition of prejudgment interest, although such a claim may be asserted. The marital property increase in value of separate property is as of the date of separation or date of distribution, whichever date produces the lesser increase in value. In instances where marital property was disposed of prior to distribution, a pre-distribution valuation date will be employed. The valuation date selected by the courts is intended to effectuate economic justice between the parties. Therefore, a party can suggest a valuation date to the court; however, the party