Pittsburgh Equitable Distribution Lawyer
In Pennsylvania, marital property is not simply divided equally at the time of divorce. Instead, a court aims to divide the marital property based on what it thinks is fair. The formal court process for dividing marital assets and marital debts based on principles of fairness is known as equitable distribution.
Equitable distribution requires the spouses to file an inventory listing what they believe are the marital assets, marital debts, and non-marital property. Generally a court will schedule one or two pre-trial conferences to attempt to mediate the disputed issues. An equitable distribution trial occurs only if a settlement cannot be reached.
To schedule an appointment with an equitable distribution attorney, call Spivak Law Firm at (412) 344-4900 or toll free at (800) 545-9390.
Defining Marital Property in Pennsylvania
In Pennsylvania, marital property refers to assets and debts acquired during a marriage. Marital assets include houses, cars, furniture, retirement accounts, and other investments. Marital debts include financial obligations accrued during the marriage, including mortgages, credit card balances, loans, and tax obligations. Marital assets and debts are considered to be owned equally by both spouses and are subject to division under the equitable distribution process.
Non-marital property, also known as separate property, refers to assets and debts that either spouse owned before the marriage. It also includes property obtained by either spouse during the marriage as a gift, inheritance, or bequest. Non-marital property is generally not subject to division under equitable distribution.
To have an equitable distribution attorney review your case, call Spivak Law Firm at (412) 344-4900 or toll free at (800) 545-9390.
Drafting Settlement Agreements in Pittsburgh
Equitable distribution can be expensive and time-consuming. An equitable distribution trial can cost clients many thousands of dollars in court fees, expert witness fees, and attorney fees. Such trials may be necessary if one spouse suspects the other spouse of hiding marital assets or misrepresenting their value.
But this formal court process may be avoided altogether if the spouses can agree about how to divide their marital assets and marital debts. If an agreement is reached, its terms are drafted in a marital settlement agreement, also known as a property settlement agreement.
To speak with an equitable distribution attorney about mediating or drafting a marital settlement agreement, call Spivak Law Firm at (412) 344-4900 or toll free at (800) 545-9390.
Contact Our Pittsburgh Law Firm Today
To schedule an appointment, call Spivak Law Firm at (412) 344-4900 or toll free at (800) 545-9390. Our Pittsburgh office is open during normal business hours, as well as evenings and weekends by appointment.
Spivak Law Firm routinely accepts cases in Allegheny County, Beaver County, Butler County, Washington County, and Westmoreland County.