Bucks County Equitable Distribution

In a Bucks County divorce, marital property is divided on the basis of fairness, not equally between the two spouses.  Marital property consists of assets and debts of both parties.  However, there are some distinctions.  Separate property, or property/asset acquired before the marriage is generally excluded.  Property included in a prenuptial agreement or property inherited during the marriage is excluded.

Likewise, property acquired after the couple’s separation is not included in the assets.  This separate property is sometimes referred to as “non marital” property.  However, if such property purchased prior to the marriage increases in value during the marriage the difference between the value before and after may be considered as part of marital property. Also, if pre-marital funds from one spouse are used to purchase a home jointly owned by both spouses, that portion becomes marital property.   Examples of marital property are home, household items, automobile, investments , retirement accounts and businesses.  You should definitely go over with your Bucks County divorce lawyer all of you assets and determine your goals with respect to the same.  

Marital Debts in Equitable Distribution

Marital debts are also part of the equitable distribution.  Debts to be considered are those occurring from the date of marriage until the date of final separation.  Even if only one spouse signed for the debt, it is considered a marital debt. Examples of debt are: loans, mortgages, credit card debts.  

The courts use several criteria in determining what is equitable in the distribution of property.  Examples of this criteria are: length of the marriage, age and condition of health, non-marital or separate assets of either spouse, standard of living during the marriage and custodianship of children.  The issue of “fault” in a divorce plays no part in the equitable distribution of property.