Equitable distribution is the division of marital property by a court in such percentages and in such manner as it deems just after considering all relevant factors and without regard to marital misconduct.
Factors to be Considered
- 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 other 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 at the time the division of property is to become effective.
- The Federal, State and local tax ramifications associated with each asset to be divided, distributed or assigned, which ramifications need not be immediate and certain.
- The expense of sale, transfer or liquidation associated with a particular asset, which expense need not be immediate and certain.
- Whether the party will be serving as the custodian of any dependent minor children.
23 Pa.C.S. § 3502 (a)
If you expect the division of marital assets or debt to be an issue, contact Vodzak Law now to request legal representation in your divorce.