Guiding You Through Complex Property Division During Your Divorce
When substantial assets are included in a marital estate, disputes over property division can be contentious. Complex property division disputes may include business interests, diversified investments, as well as complicated tax implications. At Wallitsch & Iacobelli, LLP, we evaluate every detail and review all potential legal options to safeguard the best interests of our clients. Attorney Abele Iacobelli has an L.L.M in tax law and draws on more than 20 years of family law litigation experience to effectively resolve complex property division disputes.
Factors Courts May Consider When Dividing Property
Pennsylvania is a “no-fault” state. This means that marital misconduct-adultery, abuse, desertion, etc.-is not considered in the division of marital assets. Pennsylvania is not a “community property” (50/50) state; it is an equitable distribution state.
Equitable distribution means that a number of factors are considered in the division of assets as set forth in Title 23 Pa. Code § 3502, including but not limited to:
- The length of the marriage;
- Any prior marriage of either party;
- The age, health, station, amount and sources of income, vocational skills, employability, estate, liabilities and needs of each of the parties;
- The contribution by one party to the education, training or increased earning power of the other party;
- The opportunity of each party for future acquisitions of capital assets and income;
- The sources of income of both parties, including, but not limited to, medical, retirement, insurance or benefits;
- The contribution or dissipation of each party in the acquisition, preservation, depreciation or appreciation of the marital property, including the contribution of a party as homemaker;
- The value of the property set apart to each party;
- The standard of living of the parties established during the marriage;
- The economic circumstances of each party, including Federal, State and local tax ramifications, at the time the division of property is to become effective;
- Whether the party will be serving as the custodian of any dependant minor children.
Each county has its own procedure which must be followed if a request is made for the court to make a determination as to how the assets should be divided. Generally, while this is not the law, there is an initial presumption of 50/50 division and it depends upon the argument of each of the attorneys advocating their client’s position as to whether the division will be greater or lesser than equal.
Learn How We Can Protect Your Interests
We draw on substantial family law experience to fight for results. Our straightforward legal guidance includes cost-benefit analyses at every stage to allow you to make reasoned decisions. To arrange a confidential consultation, send us a message online or call 610-674-1554. Our Office is in Allentown and we accept cases in Lehigh, Northampton, Carbon, Luzerne and Monroe Counties.