Marital Estate

Pennsylvania Divorce and Legal Separation Attorneys

Property division and property settlement agreements all revolve around one standing principle - the marital estate. What is it? What is in it? How does it effect division of property? The King of Prussia law firm of Vetrano & Vetrano offers decades of experience making sure that their clients receive a fair share of the marital property in a divorce. Our attorneys have a thorough knowledge of Pennsylvania's property division laws and how they apply to a client's unique circumstances.

Contact our family lawyers to discuss your divorce, property division, and marital estate concerns. We are committed to seeing that your divorce is done right.

What is the Marital Estate?

The marital estate includes all property that is acquired during a marriage, regardless of title, with certain exceptions. Personal property, financial accounts, land or buildings, are all considered to be part of the marital estate. Unless there is a prenuptial agreement in place, all marital property will be divided equitably between the spouses upon divorce. The marital estate does not include certain separate property, such as:

• Property owned prior to the marriage
• Property or assets inherited during the marriage
• Property that was a gift to one party during the marriage (except gifts between spouses which are marital property)
• Property acquired after the date of separation
• Property excluded from the marital estate by a premarital agreement

Although separate property is not included in the marital estate, financial growth from the increase in value of separate property from the date of marriage through the date of separation is deemed marital property. In some cases, separate property converted into a marital asset may also be considered part of the martial estate.

Date of Separation

Because the marital estate and many other factors are dependent on the date of separation, it is necessary to understand when separation occurs legally. It is important for couples to know whether the law considers them "separated" or not as a result of certain acts, actions or even declarations of either or both spouses. Property rights can be determined or extinguished at separation, and rights or obligations of support may be created at separation.

Generally, the date of separation is very fact specific. A couple is can be deemed to be legally separated when under certain circumstances:

• The couple is physically separated intentionally and no longer live in the same home
• The couple live in the same home but cease physical relations and have made intent of separation known
• The filing and service of a divorce complaint

Determining the Marital Estate

The attorneys at Vetrano & Vetrano work diligently to evaluate your finances, identify the marital estate, and value the assets within the marital estate. We understand the many complexities in valuing certain assets. To establish the value of the marital estate at the date of separation, we utilize accountants and other experts to assess the current value of pension, annuities, royalties, retirement benefits, business interests, stock options, nonqualified employee benefits, and other property in the marital estate.

We will monitor the marital estate and make sure that there is accountability for all assets between the date of separation and the date of distribution of the marital estate between the spouses. If necessary, we can make interim distributions to the spouses to help them through the separation period. We can arrange for one spouse to have exclusive possession of the marital home or other assets pending agreement on distribution of the assets.

Contact Vetrano & Vetrano Today

For assistance determining your marital assets and analyzing your marital estate, contact our divorce and family lawyers to schedule a confidential consultation.

We represent clients throughout eastern Pennsylvania, including the Philadelphia Main Line (Merion, Narberth, Gladwyne, Wynnewood, Ardmore, Haverford, Bryn Mawr, Rosemont, Villanova, St. David's, Radnor, Wayne, Strafford, Devon, Berwyn, and Paoli) and the communities of Newtown Square, Malvern, Valley Forge, Phoenixville, Reading, Doylestown, West Chester, Media, Lancaster, Allentown, Stroudsburg, Norristown, and Easton. Berks County, Bucks County, Chester County, Delaware County, Lancaster County, Lehigh County, Monroe County, Montgomery County, and Northampton County