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Assets that may be protected from equitable distribution during a divorce are typically belong to one of two types: premarital property that has been kept from being commingled or transitioned and gifts or inheritances.
You can best protect your assets during divorce by being proactive and organized. Make a comprehensive list of all you and your spouse own, and categorize it as marital or non-marital property. If necessary, collect proof that a particular item is separate or marital.
So, it doesnt matter whose name is on the 401K, pension plan, or IRA. If it grew during your marriage, its typically considered marital property and is subject to division.
A settlement agreement differs from a separation agreement as it sets the terms for the divorce, not the separation. A settlement agreement should address all central issues of the divorce. This can include things like division of marital assets and debts, child custody, and child support, as well as spousal support.
All property acquired during a marriage becomes marital property. In Pennsylvania, marital property belongs to both spouses. Pennsylvania, like most states, is an equitable distribution state. During a divorce or legal separation, courts divide marital property fairly between spouses, but not always equally.
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Home: The home in which the couple resides typically falls under marital property. This includes any equity built up in the home during the marriage. Business Assets: If either spouse starts a business during the marriage, the business and its assets are generally considered marital property.
California: As a community property state, property acquired during the marriage is generally divided equally upon divorce. However, the pre-marriage-owned property remains separate unless actions during the marriage, like commingling funds or transferring property into joint names, have made it community property.
Marital settlement agreements in Pennsylvania are delicate legal documents. Their primary purpose is to establish a fair and equitable distribution of spouses assets, liabilities, and responsibilities.

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