fbpx

Divorcing in Pennsylvania? Be sure to account for the full range of marital assets and debts

Intermingling assets and debts is a normal part of marriage. When the marriage ends, though, determining exactly who is entitled to what can be a complicated matter.

In Pennsylvania, when two spouses divorce, their marital property is divided based on the principle of equitable distribution. But “equitable” is not necessarily the same thing as “equal,” and divorcing spouses should have a marital property lawyer on their side to ensure that the distribution of assets and debts is fair.

As a recent article in the Pittsburgh Post-Gazette points out, more couples these days are taking steps prior to or during marriage to ensure that each party’s assets remain separate and not co-mingled. This kind of planning may be particularly suited to spouses who have been married before or who are bringing children from a prior relationship into the marriage.

Still, most spouses do allow their assets and debts to become intertwined, and careful investigation and accounting may be necessary to inventory and accurately value marital assets when a marriage ends. Unfortunately, in some cases, hidden assets are an issue, and outside experts may be needed to uncover the assets and arrive at a fair and equitable distribution.

A full inventory of marital property may include the family home, vehicles, personal property, business assets, retirement plans, stock options, bank accounts and debts. An equitable distribution of these items could involve a range of considerations, including how much each party contributed or sacrificed during the marriage.

Marital property lawyer Eric Bononi, of [nap_names id=”FIRM-NAME-1″], is a certified public accountant with experience in reaching in-court and out-of-court solutions. To learn more, please see our Greensburg Marital Property overview.

Disclaimer

The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, letters and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established.

Privacy Policy

This privacy policy discloses the privacy practices for www.bononiandbononi.com. This privacy policy applies solely to information collected by this web site. It will notify you of the following:

  1. What personally identifiable information is collected from you through the web site, how it is used and with whom it may be shared.
  2. What choices are available to you regarding the use of your data.
  3. The security procedures in place to protect the misuse of your information.
  4. How you can correct any inaccuracies in the information.

Information Collection, Use, and Sharing 
We are the sole owners of the information collected on this site. We only have access to/collect information that you voluntarily give us via email or other direct contact from you. We will not sell or rent this information to anyone.

We will use your information to respond to you, regarding the reason you contacted us. We will not share your information with any third party outside of our organization, other than as necessary.

Unless you ask us not to, we may contact you via email in the future to tell you about specials, new products or services, or changes to this privacy policy.

Your Access to and Control Over Information 
You may opt out of any future contacts from us at any time. You can do the following at any time by contacting us via the email address or phone number given on our website:

  • See what data we have about you, if any.
  • Change/correct any data we have about you.
  • Have us delete any data we have about you.
  • Express any concern you have about our use of your data.

Security 
We take precautions to protect your information. When you submit sensitive information via the website, your information is protected both online and offline.

We also protect your information offline. Only employees who need the information to perform a specific job (for example, billing or customer service) are granted access to personally identifiable information. The computers/servers in which we store personally identifiable information are kept in a secure environment.

Updates

Our Privacy Policy may change from time to time and all updates will be posted on this page.

If you feel that we are not abiding by this privacy policy, you should contact us immediately via telephone at 412-832-2499