What is a fair division of assets?

In Pennsylvania, the court will use the concept of equitable distribution to divide your assets during a divorce. Equitable distribution relies on a fair division of assets.

Unfortunately, there is no real legal definition of what makes a division fair. Business Insider explains that it is often left up to the judge to make the determinization of an equitable division of assets.

Fair division by the court

When the court divides your assets, it must follow the law. The law only states that the court fairly divides your marital assets, which requires the court to gather some information about you and your spouse.

The court will consider your individual financial situations, such as how much separate property you have, including any inheritances, your earnings and your needs. Because the court will consider your finances, it is possible for the division of assets to be unequal, so you should note that fair does not mean equal.

The goal of the court is to find a balance between your financial situations. If one of you earns a lot more than the other or has more separate property, then the chances are good that the other person will receive more of the marital assets.

Decide on your own

If you would rather not be at the mercy of the court to make decisions about your assets, you and your spouse can come to an agreement on your own. You will need to both agree to the division, but it can make a better situation for you because you are in charge and have more control of where assets go. When you decide on your own, the concepts of equitable division and fairness become irrelevant because you can make the division however you see fit

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