Among the variety of issues that must be addressed in a divorce case in Pennsylvania, property division is the most likely to have a long-term impact on a person’s financial security. After all, for most married couples, working together toward greater financial security is one of the main goals in life, particularly nowadays when both spouses are likely to be employed and earning an income. When it comes time to end the relationship, how those accumulated assets will be divided can be a major sticking point.
However, if both soon-to-be ex-spouses focus on getting a fair deal – not a deal that is slanted in favor of one over the other – then it may be possible to reach a satisfactory conclusion in the divorce case. But, what does a fair deal look like? Well, for starters, it doesn’t always mean that all of the accumulated assets will be split 50/50. And, in many cases, such a “split down the middle” really doesn’t make sense, based on the assets involved.
For example, many couples own a family home, which is their greatest financial asset. Who will get the home in the aftermath of the divorce? Does it make sense for one person to be responsible for such a financial obligation, when previously it was two people helping with the costs of homeownership? Or, what if the couple owns a business together? Can such an asset even be divided? Or, will one spouse need to take ownership over the other?
These types of property division issues, among many others, are just examples of what any given couple in Pennsylvania may need to address to get a fair deal in the property division process of a divorce case. At our law firm, we do our best to help individuals who are facing these legal complications.