Pennsylvania residents contemplating divorce may realize that, as part of the property division process, they will need to make a full accounting of their assets and debts. However, in many cases, couples come to realize that they have more assets and debts than they realized.
In their initial thoughts about property division, most people think of their primary assets: their home, bank accounts and vehicles. However, many people have more assets that will be part of the property division process, such as retirement accounts, business assets, investments accounts and even valuable collectibles. If these assets are considered marital property, they will be subject to the property division process in a divorce case.
Many of our readers may think that the more assets and debts that are involved in a divorce case, the harder it will be to get through it. But, that isn't always true. In reality, the ease of the property division process often depends on the temperament of the couple involved in the case. If they can see that it is best for everyone involved to get the divorce over and done with, they may be able to reach an out-of-court agreement that is satisfactory to all involved.
At our law firm, we understand that couples going through a divorce are likely to have quite a few questions about property division. We do our best to make sure our clients are aware of all of their options. For more information on the process of property division, please visit our law firm's website.