Law Office of Margaret S. Phiambolis
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What you should know about marital property

If you are currently considering filing for divorce in Pennsylvania or you have already put in your papers to terminate your marriage, you know first-hand that the divorce process can be overwhelming. With heavy emotions, it can be difficult to negotiate and settle the terms of your separation. Dividing marital property may be one of the most challenging obstacles to tackle, as it is hard to divide property and assets that you have accumulated throughout your marriage. It may be helpful to fully understand marital property and what it entails so that you can get everything you are entitled to in the divorce settlement.

Contrary to what some may think, marital property involves more than simply the family home, furniture, electronics, cars and checking account balance. There are other, often overlooked, items to consider. These include the following:

  • 401k plans, term life insurance policies, stocks and retirement plans

  • Lottery ticket winnings and tax refunds

  • Travel reward miles and other reward club points

  • Collections, such as art, wine, horses, coins, comic books and antiques

  • Memberships to exclusive golf courses and country clubs

  • Intellectual property, such as trademarks, copyrights and patents

In addition, any gifts given between you and your spouse are considered marital property and eligible for division in the divorce. If either spouse loaned money or property to a third-party, both parties are entitled to half once it is repaid, even if that is after the marriage has ended.

This information is intended to educate and should not be taken as legal advice.

 

 

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Law Office of Margaret S. Phiambolis
1012 Bethlehem Pike
Suite 103
PO Box 356
Spring House, PA 19477

Phone: 215-664-7764
Phone: 215-628-8227
Phone: 215-664-7764
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