As a Bucks County client, you have the benefit of our experience in sophisticated asset valuation, which is vital to equitable distribution. A PSA (or MSA) can be drafted at any time during a divorce and is the final agreement that you and your spouse reach involving division of assets, alimony, custody and child support and can be incorporated or merged into the divorce decree. Equitable Distribution. Using Experts to Value Your Marital Property in Bucks County. Your relationship with your spouse. Facing the fact that a marriage is over is often one of the most challenging life experiences, with an uncertain outcome.
A fair mediator encourages parties to talk to their divorce lawyers before resolving terms. What Does "Separate and Apart" Mean? © 2016 by Velter Yurovsky Zoftis Sokolson, LLC. To discuss your concerns regarding equitable distribution of property and assets with an experienced family law attorney, please contact our office. If the divorcing spouses are unable to agree on the economic claims, the Bucks County Family Court Judge assigned with the case cannot begin the equitable distribution process until the parties' divorce decree is ready to be entered by the Court. You finally made it to the end, and you have a final decree in divorce and a document which tells you and your spouse how you are dividing your property. If you are like most people approaching divorce, the fact that your marriage is breaking up may feel like a failure or the end of the world. Bucks county asset division attorney general. Joint Expenses and Debt.
If an agreement is not possible, then you are prepared to move your Bucks County Divorce Action to the next phase of the divorce process, which in Bucks County is a Masters Hearing. To learn more about how to divide marital property, talk to an experienced divorce attorney today. At times, a party may be able to trade other assets or come to an agreement if they wish to keep their pension or retirement accounts intact. The no-fault grounds for divorce allow for a simpler process, and in addition, proving marital fault does not change how the court will divide any property the parties acquired during the marriage. THE MARTIN LAW FIRM, P. C. – EQUITABLE DIVISION GUIDANCE AND SOLUTIONS. By knowing how a Judge will likely divide your marital property, you can negotiate a fair division or at least know what to expect should the decision be left to the Judge. Equitable distribution is the division of marital assets and debts. Pennsylvania enacted divorce reform legislation which became effective in July 1980, known as the 1980 Divorce Code, with some amendments since its release. The attorneys at Cooley & Handy are well-prepared to discuss all of the details of your specific matter and to provide you with advice and guidance along the way. Bucks county pa real estate attorney. Our family law attorneys encourage such discussions if clients have a firm grasp of their financial status, needs, and property and can objectively examine the settlement as a prudent business person. Whether you and your ex are generally amicable or have a high net worth divorce with many complex financial issues to resolve, we are fully qualified to negotiate with opposing counsel, including cases involving hidden assets, existing prenuptial, and other complications.
After one year passes from that date of separation, one party files a paper with the Court known as a "Separation Affidavit", which states that the parties have now been separated for a year. The Judge's decision becomes the final decision if neither party asks for any further review or appeal by a higher court. These experts review and analyze business documents and financial records of a business to determine if there is any value to the business owned by one or both of the spouses. Are Gifts Considered Marital Property or Separate Property? At the conclusion of the discovery phase, you are prepared to enter into settlement discussions with the goal of negotiating an agreement. Unfortunately, very often, marriages break down. Top Bucks County Divorce Lawyers | Risk Free Consultation. In Bucks County, there are seven grounds for fault divorce: - Adultery. From homes to cars to household furnishings, equitable distribution can become very complicated.
Additional Issues with Property Division. We will fight for what is fair, but we will also help you to protect what is yours. If no exceptions are filed, the recommendation becomes the final order. Bucks county asset division attorney forms. Even if you are relieved to have your marriage over, divvying up your home, business, and financial assets is bound to be painful. However, in substance, they are designed to accomplish the same purpose – to put the parties on equitable economic footing during the pendency of the divorce proceedings.
Go through a period of separation lasting one year. Both spouses are entitled to an equitable distribution of all marital assets. We cover those amendments in this summary. Doylestown Property Division Attorney | Bucks County Equitable Distribution Lawyer | New Hope PA Settlement Agreement. Pennsylvania is a no-fault state for divorce, and the process can get complicated. On the other hand, if you are the spouse paying support, you should be fair to your family and not try to "squeeze" them to secure a better bargaining position.
Uncontested Divorce. But its increase in value during the marriage to the time of final separation is included. The spouse who refinanced the loan is solely responsible for the "new" loan. Doylestown Property Division Attorney. These categorizations are important because, depending on the reason or "grounds" for your divorce, you will be subject to different regulations and waiting periods.
If you are considering filing for divorce, you must get the help of a qualified divorce attorney immediately before taking any steps. Family Law Attorney. We are committed to serving your needs in a compassionate and efficient manner. If Exceptions are not filed within 20 days, the Hearing Officer's Recommendation becomes a final order of the court. It is also a good option for couples that do not have numerous assets to split. Partnership Interests. You and your spouse can come to an agreement about what matters most to each of you and divide those things fairly. All marital property is split equitably between spouses, and commingled property can either be split between spouses or returned to the spouse it originated from if the property can be identified, traced, and is capable of being separated from the marital investment. Equitable distribution does not necessarily mean "equal. " Pennsylvania's separation period was recently halved from two years to one with the passage of Act 102 in October 2016.
Gibson Family Law, PLLC helps establish what's vulnerable to distribution. If the parties cannot agree, the court will decide how the marital assets and liabilities will be distributed. Will Contest Proceeds. If you seek support, your demands should not be extravagant.
Common Assets and Debts. Spousal Support or Alimony Pendente Lite. In Pennsylvania, both parents must support their children per their respective abilities. Child custody arrangements. We strive to make the process as simple, easy, and stress-free as possible for our clients, and will treat your case with the care, sensitivity, and professionalism you deserve. We will do everything possible to protect your interests. Is the transfer of property from a divorce taxable?
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