Property and Debt Division
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Stroudsburg Property and Debt Division Lawyers
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The process of divorce usually entails the distribution of marital assets and marital debt. If the divorcing parties cannot agree on a division of marital assets and debts, the Pennsylvania courts will divide the marital property and debts as the court deems fair. The factors a court may consider include:
- Length of the marriage
- Any prior marriages
- Age, health, station, amount and sources of income, skills, employability, estate, liabilities and needs of each of the parties
- 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 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 a homemaker
- The value of another spouse’s property, gifts or inheritance, which is solely owned by one spouse and is not part of the marital estate
- 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 a party will be serving as custodian of any dependent minor children
It is important to note that marital misconduct will not be considered in property distribution but may be relevant with regard to alimony or child custody.
Contact Amori & Associates, LLC Today
The property and debt division attorneys at Amori & Associates, LLC work to protect their clients' interests in achieving a fair property distribution. Our attorneys are skilled negotiators who will carefully identify and evaluate marital assets, such as:
- The marital residence and other real property
- Motor vehicles (and vehicle loans)
- Checking and savings accounts, and the contents of any safety deposit boxes
- Loans and liabilities, such as car loans, mortgages, home equity loans and credit card debt
- Pension plans, IRAs and other retirement plans
- Employment termination benefits and workers’ compensation benefits
- Securities, such as stocks, bonds, CDs, trusts, annuities, money market funds
- Business interests, including the good will of a business
- Insurance proceeds
- Inheritances and gifts
- Stock options
- Lottery proceeds
- Personal property
- Lawsuit settlement awards or verdicts reached prior to separation
Cash Income and Hidden Assets
When one or both parties operate a business or receive cash income, challenges can arise with failure to report or under-reporting of income and hidden assets. Our attorneys can help clients track income that a spouse may possess or hide in an attempt to achieve a favorable support award at the expense of the other spouse.
Contact the family law attorneys at Amori & Associates, LLC today at (570) 421-1406 to schedule a no obligation consultation..
513 Sarah Street, Stroudsburg, PA 18360
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(570) 421-1406 - Tel.
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(570) 421-1407 - Fax
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