How marital assets and debts are divided in order to come up with a viable property settlement agreement can be one of the most contentious issues in divorce proceedings. In Pennsylvania, this process is known as equitable distribution. Despite the name, Equitable Distribution does not mean equal division, but in fact the process is based on what the court believes is fair, and several factors are weighed in coming up with a final agreement.
If the parties cannot agree, especially in high net worth divorces, the court will decide how the assets and debts will be divided. The length of the marriage, the age and health of the parties, whether either party contributed to the other's education and training, and a number of other factors all play a part in the outcome. Obviously, the fair division of marital assets and debts has a profound impact on the future financial well-being of divorcing parties. That is why it is so critical that your attorney during the property division process is experienced and knowledgeable in financial matters.
AMM’s Family Law attorneys understand issues related to benefits and assets such as:
• Deferred income benefits;
• Savings, profit sharing and overseas accounts;
• Defined benefit and defined contribution pensions;
• CEO compensation packages, including, ESOPs, cash balance accounts and others;
Our lawyers have a well-developed network of experienced highly-qualified business valuation and forensic accounting specialists and work with them to achieve transparency and discovery of any hidden assets, as the equitable distribution process unfolds. You can be assured of knowledgeable professional representation which vigorously pursues and fair, positive outcome for your financial future.