Although Pennsylvania residents going through a divorce will expect to encounter many complicated issues as the legal proceedings play out, no issue can present as many thorny problems as the property division part of the case. During the course of a marriage, most couples acquire a significant amount of assets – oftentimes, more than they even realize when the divorce case starts. So, what complex issues can come up during the property division part of a divorce in Pennsylvania?
Well, for starters, perhaps the most important part of the property division process is to determine which assets are considered marital assets and which are separate assets. Separate assets, typically, were solely owned by one spouse or the other prior to the marriage and, therefore, remain separate from the assets that will be divided during the divorce. Marital assets, on the other hand, will be subject to a split between the soon-to-be ex-spouses.
Another factor in the property division process – which many people don’t think of – is that debt must be divided as well, not just assets. Credit card debt, student loan debt, car loans, mortgages – all of these financial obligations will likely need to be addressed in the property division part of a divorce in Pennsylvania.
Couples who are able to work on deciding these issues out of court are often better off than those who face courtroom battles over every asset they own. However, each case is different and, in some cases, litigation is the only option. Our readers would likely benefit from getting more information about their own unique property division issues.