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Pennsylvania is what is known as an “equitable distribution” state when it comes to the division of marital debts and assets pursuant to a divorce. Essentially, that means that, if the parties cannot come an agreement on their own with respect to how marital property will be allocated, the court will attempt to divide the property “equitably” or fairly, but not necessarily equally.

When the court attempts to discern what is fair or equitable, the judge can consider a wide range of factors, including:

• How long the parties were married—generally, the longer the marriage, the more likely that the property will be divided equally
• The respective ages, health, income, work skills, ability to be gainfully employed and assets of each party
• Whether or not one spouse contributed to the other’s education, training or increased earning power by maintaining the home or giving up a career to allow the other spouse to advance
• The total income sources for both spouses, including access to retirement funds, medical insurance, annuities and other revenue
• The value of any property that belongs only to one spouse
• The extent to which each spouse increased or decreased the value of marital property
• The future opportunity of either party to obtain assets or increase income
• The standard of living to which the parties were accustomed during the marriage
• Whether or not one party has custody of minor children

The court will not factor in any allegations or evidence of adultery, domestic violence or other marital misconduct. Furthermore, until the divorce is finalized, the court may make any temporary property allocations, including a determination as to who may live in the marital home.

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At the office of Joanne E. Kleiner & Associates, we have more than 25 years of family law experience. We’ll help you stay focused on what matters. To schedule an appointment with an experienced Pennsylvania divorce attorney, contact our office online or call us at 215-886-1266.

Dividing Complex Investment Portfolios in a Divorce

One of the most challenging aspects of a divorce proceeding is often the division of marital assets, particularly if you have complex or diverse investment portfolios. Here’s what you should expect if you or your spouse hold a wide array of stocks, bonds, or other types of investments at the time of a divorce.

Step One: Determine When the Investments Were Made

Your lawyer will identify when the investments were initiated. Any investments made before the marriage will be considered separate property, though any growth in the value of the investment during marriage may be considered marital property, as will any contributions to those investments. For example, if you contributed to a mutual fund before and during your marriage, some of the value will be considered separate property, and not subject to equitable distribution. However, some of the value will also be considered marital property.

Step Two: Get a Fair Market Appraisal of the Value of the Investments

It’s best to hire an expert to prepare a valuation of the investment portfolio. An expert will be able to factor in anticipated increases or decreases in the fair market value of the portfolio.

Step Three: Determine Whether There Are Other Items of Property That Can Offset the Value of the Investment Portfolio

Dividing an investment portfolio can be extremely messy. As a result, courts prefer that parties come to agreements where the person retaining the investment portfolio agrees to relinquish any right in other property (a house or boat, etc.) in exchange for the right to leave the portfolio intact. There are, however, a variety of factors that can make this a complicated endeavor. The investments may have a more substantial potential for growth (and loss as well), or the other property may come with additional financial obligations (a home requires maintenance, etc.).

Contact Us

At the office of Joanne E. Kleiner & Associates, we have more than 25 years of family law experience. We’ll help you stay focused on what matters. To schedule an appointment with an experienced Pennsylvania divorce attorney, contact our office online or call us at 215-886-1266.

Increase in Spousal Support for Stay-At-Home Dads

Though national statistics still show women lagging substantially behind men in average earnings, more and more women are out-earning their husbands, and in many instances, families are opting to have the father stay at home with children because of the greater earning potential of the mother. As that trend has increased, so has another–that of stay-at-home dads successfully seeking spousal support in a divorce proceeding.

Most family law experts say that, as gender roles in society have become less delineated, the demand has been that the courts take a more gender neutral approach to divorce, custody and support. They acknowledge, though, that the legal system has been and remains, to a significant degree, biased against men in family law matters. Even though the “tender years doctrine,” the premise that mothers are biologically more skilled at nurturing small children, has been rejected nationwide, many judges (who are mostly men) still balk at the idea of a woman paying a man any level of support, even if the woman earns ten times as much as the man.

Experts also say that cultural stereotypes come into play. Many men who might have a legitimate claim for alimony, who have given up a lesser paying career to stay home with children, often don’t seek spousal support in a divorce because of the cultural perception that it would not be very “manly” to accept payment from a woman.

Not surprisingly, as more and more women out-earn their husbands, legal experts have seen a dramatic increase in the number of women asking for a prenuptial agreement. In a recent study, more than half of all family law attorneys polled said they had seen such an increase.

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At the law office of Joanne E. Kleiner & Associates, we have protected the rights of men and women in and around Philadelphia for more than 25 years. Let us help you successfully resolve your family law problems. To schedule an appointment with an experienced Pennsylvania family law attorney, contact our office online or call us at 215-886-1266.

Using Mediation to Settle Differences in a Divorce

Your marriage may be over, but you may not want to get into a long and protracted battle over custody, visitation, support and property distribution. Mediation may be the best approach for you.

In mediation, instead of engaging in an adversarial process, you and your ex-spouse work with a neutral third party known as a mediator. The mediator acts as a facilitator, helping both of you identify mutually beneficial ways to resolve your disputes. The mediator has no vested interest in a particular outcome, but is simply charged with helping you and your ex come to agreement on issues related to custody and visitation, support and property allocation.

Mediation offers a number of advantages over the traditional divorce process:

• Because the mediator does not listen to legal arguments or make legal decisions, there is no need for lengthy and expensive discovery proceedings, such as depositions or the production of documents. There are also no motion hearings, debates over the admissibility of evidence or other costly procedures. Accordingly, mediation is typically far less expensive than litigation.
• Mediation usually takes far less time. With most mediators, you can typically schedule the mediation within a couple months, often within 30 days. The process itself can usually be completed in a day or less, unless you have really complex issues.
• With mediation, you get a say in the outcome. You can propose ways to resolve your differences and you can always reject a settlement offer from your ex. You don’t have to wait for a third party (judge or jury) to make a decision, with a 50/50 chance of winning or losing.

In mediation, any solution you come to will be one that you and your ex have crafted. The mediator does not make determinations of who is right and who is wrong, and won’t issue any rulings. The mediator may express concerns that one party has undue influence over the other, but won’t consider testimony from third parties and won’t be concerned about evidence or legal arguments, unless they can be used to move you toward settling your differences.

Contact Attorney Joanne E. Kleiner

Let us help you find a workable solution to a marital property dispute. Contact our office online or call us at 215-886-1266 to schedule a confidential consultation. We will help you stay focused on the issues that matter.