Every divorce presents unique issues which require individualized legal strategies to ensure your rights are protected. Mrs. Taylor will advise, resolve, negotiate and litigate as appropriate for the particular details in your case. She is experienced in successfully negotiating on behalf of her clients who are involved in highly contentious situations, diligent in discovering the complete estate and ensuring that your marital estate is justly and equitably divided.
Mrs. Taylor will conduct discovery in accordance with the needs of your case and thoroughly address complex financial issues, such as businesses, pension and retirement plans, stock portfolios and real property.
Mrs. Taylor will ensure that your divorce, be it contested or uncontested, conforms to the statutory procedure requirements in accordance with the law of the Commonwealth of Pennsylvania and New Jersey. She will help you gain a comprehensive understanding of all elements of the divorce process by answering your questions simply and directly.
When you marry, you and your spouse create a financial foundation. Upon divorce, you must divide what you have both worked hard to acquire. Over time, your assets merged. You need a seasoned family attorney to help you sort out what has accumulated in an equitable manner.
Defining Marital Property
Although there are many exceptions, property acquired post marriage is considered marital. Non marital property is usually acquired before the marriage and owned by one of the parties. Examples of non-marital property are:
- Property received via gift or inheritance,
- Property acquired after separation,
- Property protected by a pre-nuptial or post nuptial agreement.
Pennsylvania is not a Community Property state, which subjects assets to an automatic 50/50 division. PA requires assets to be split equitably, meaning each party is entitled to a fair award based on several factors, such as:
- Age and health of each party,
- Length of the marriage,
- Each party’s contributions,
- Future earnings of each party,
- Child custody and support,
- The income inferior spouse’s need for alimony.
Mrs. Taylor will assist in the division of your property with honesty and integrity.
The origin of each marital asset must be evaluated and categorized. The name on the account does not necessarily denote ownership. Common marital assets include:
- Real estate,
- Bank accounts,
- Business interests,
- Investments and
- Retirement funds.
Tracing the ownership of each asset may reveal marital and non-marital components. Mrs. Taylor will help you protect what rightfully belongs to you.
Assigning Marital Debts
Determining debt responsibility is also part of the property division. Common debts include:
- Bank loans,
- Credit card debt,
- Car payments.
Debts impact the value of your marital estate so it is crucial to allocate the liability. Regardless of the terms of your Divorce Decree, your creditors may not honor any agreement except the original debt note.
Mrs. Taylor will advise you on your financial responsibility and help you understand what is expected of you financially post-divorce.