Division of Marital Property 

Marital property in PA includes any assets or debts acquired during the marriage regardless of whose name they are under. This may include the house and household items, the family business, stock options and retirement benefits as well as loans and credit card debt.

What we help you work out in mediation:

What should we do with the house?

The marital home is precious. It holds family memories and is likely your biggest financial asset. That’s why we carefully help you weigh the pros and cons of whether to sell the home, negotiate a buyout, or continue to co-own – plus offer guidance on how to do it as smoothly as possible.

We’ll present factors for you both to consider in deciding what to do with the marital home, including:

• Whether a spouse can afford to stay in the home
• Getting the cash needed to start over
• How you will divide the proceeds from the sale
• The need to maintain continuity and stability for the kids
• The feasibility of a buyout
• Temporary housing arrangements

What is the fairest way to divide retirement benefits or other assets?

Most unsettling and complicated in your long-term financial picture is retirement, especially when assets are not transferrable or investments are co-owned.

We break things down into simple terms so everyone understands and feels comfortable talking about finances:

• Most equitable solutions for benefit plans and options and how to value them
• Explain any rights to vested retirement benefit plans and stock options after the divorce
• How to treat assets with fluctuating value
• Uncover easily overlooked assets (i.e. frequent flyer miles)
• Collecting on your spouse’s social security record

What to do with the business?

Owning a business presents its own set of unique challenges during divorce. Our mediators help you work through everything from day-to-day operations to developing short and long-range exit plans.

We’ll help you make the best decisions for the business:

• Decide how to best run the business during the divorce
• Figure out how much the business is worth
• Determine whether to sell, buy-out the other, or continue to co-own

How do we divide our “stuff”?  

While spouses often find ways to split items like furniture and cars on their own, there are usually one or two pieces that hold special value. Mediation can help avoid dragging out emotional attachments to come to settlement.

We offer strategies that make it easier to compromise:

• How to create a simple inventory of all household items
• What do to when sentimental value is more significant than monetary value
• Ways to determine fair market values of household items

Are there tax consequences resulting from our decisions?  

Be aware that how you divide property could affect how much tax you owe. In our mediation, we offer general tax information for you to consider in your negotiations. We also use special software to run calculations, per your request.

Consult with us to gather information and guidance around tax consequences of divorce:

• Any capital gains tax from the sale of a property
• Incurring new property taxes from ownership
• Taking money out of retirement
• New income taxes to expect
• Alimony payments

How do we determine who should pay debts?

Paying off debt is a very sensitive topic that can easily get heated.Yet how you handle debt in divorce is critical. We work hard to ensure your ability to qualify for and maintain good credit after divorce.

We offer measures that protect both spouses and allow you to pay off joint debt:

• Review and discuss major purchases, student loans and who received the benefit of the expense
• Insert indemnity agreements so that if one doesn’t pay, you can mediate or go to court
• Insert provisions into the agreement so income transfers directly to creditors
• Decide which debts are paid when assets are distributed upon submission of your settlement agreement
• Informing you of rules around bankruptcy and support obligations
• Understand how your choices could affect your credit score