Marital Property Division
Divorce is difficult. Fighting over the division of property, assets and possessions can be even worse. You need a property division lawyer who is experienced and will steer you through the sometimes arduous path that is Pennsylvania divorce law. At Abom & Kutulakis, L.L.P., our divorce lawyers focus on making sure the divorce ends in your favor, with the division of assets being fair and substantial.
We will begin by getting a firm and definitive idea of your marital estate so that we know what we are going after. Your property division lawyer will take into account your monetary needs for the future, as well as determine any child support or alimony obligations that may need to be included in your case. We will advise you on marital and non-marital assets so that you are not surprised by anything. And we will even discuss what to expect during tax-time after the division of marital property takes place. All of your property division requests will be backed up with evidence so that the law can be easily applied.
Items that are valued for distribution are:
- The home and other real estate
- Retirement assets [401(k)s, IRAs, stocks and bonds]
- Investments and bank accounts
- Personal property
- Closely held businesses
- Life insurance benefits
- Credit cards, loans and other liabilities
- Personal marital property, such as homes, cars, furniture, jewelry and art
- Financial marital property, such as investments and savings accounts
- Marital debts, such as credit card bills, mortgages, car loans and home equity loans
- Retirement accounts, such as Defined Benefit or Defined Contribution pensions, IRAs and 401(k) plans
If there is no argument on the division of property, spouses will enter into a Property Settlement Agreement (PSA) which will be submitted to the court for the final divorce decree. If the spouses do not agree on the division of the property, then it will go to the courts to decide.
The court will first take into account the Pre-Nuptial Agreement, if there was one. If not, they will use facts like the length of the marriage, previous marriages, each spouse's health and ability to work, each spouse's income, the assets, debts and income needs of each spouse, custody of dependent children under 18, etc. If your case does go to court, your Property Division Lawyer will go through each determining factor with you to prepare for your case.
Our Experienced Attorneys are Here to Help
Property division, custody, marital estates; they are all words that can invoke stress in the simplest of divorces. But not to worry, because Abom & Kutulakis, L.L.P. will put seasoned divorce lawyers on your side to fight for your rights and be sure your divorce ends fairly and in a way that you move on with your life afterwards. Contact us today to set up a consultation. We're ready to calm your stress!