If two parties are unable to divide their marital assets and debt amicably following divorce, Pennsylvania courts will do so using an equitable distribution model. The term “equitable distribution” does not imply that assets and debts are divided equally, but rather what the court considers to be fair given the specific facts and circumstances of your situation.
The court will consider a number of factors when determining how to divide marital assets. Some of these include:
Whether through litigation, negotiation, mediation or all of the above, the experienced legal team at McCarthy McDonald Schulberg & Joy works with our clients to formulate a specific plan and utilize all available avenues at our disposal to effectively resolve the division of marital property.
IF NECESSARY, WE WORK WITH REAL ESTATE VALUATORS, FORENSIC ACCOUNTANTS AND OTHER FINANCIAL PROFESSIONALS TO OBTAIN THE ACCURATE VALUATION OF COMPLEX HOLDINGS SUCH AS INVESTMENT REAL ESTATE, CLOSELY HELD BUSINESSES, PENSIONS, RETIREMENT ACCOUNTS AND PROFIT-SHARING PLANS.
However, property division matters cannot always be resolved through negotiation. Our lawyers are trial-tested and always prepared to advocate aggressively on our clients’ behalf in court. You can be assured that we understand how to protect your rights in property disputes and all other family law concerns.
Often, the toughest issues to resolve are identifying the marital property and valuing certain marital property. With limited exceptions, such as property that has been inherited, Pennsylvania law defines marital property as any property acquired between the date of the marriage and the date of separation – regardless of whose name is on the title.
It is not uncommon for a party to attempt to hide income or provide incomplete or inaccurate information regarding income and assets. If necessary, we will work with forensic accountants, tax specialists, business valuators and others who can bring clarity to the total financial picture in order to obtain a fair judgment regarding equitable distribution.