Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

2010 Slicing the Pie: Equitable Distribution in Pennsylvania

3,693 views

Published on

This presentation describes how marital property is divided under Pennsylvania equitable distribution laws. This presentation follows Chapter 5 of the Pennsylvania Bar Institute book Slicing the Pie: Equitable Distribution in Pennsylvania by Brian C. Vertz (David Ladov, Ed.)

Published in: Economy & Finance
  • Be the first to comment

  • Be the first to like this

2010 Slicing the Pie: Equitable Distribution in Pennsylvania

  1. 1. Chapter 5: Equitable Distribution of Marital Property<br />Brian C. Vertz, ESQ, MBA<br />Pollock Begg Komar Glasser LLC, Pittsburgh<br />www.BVSOURCE.com<br />
  2. 2. Criteria for Dividing Property<br />Eleven Factors - 23 Pa.C.S. § 3502 (a)(1) – (11)<br />Statistical Data<br />Prospects for Economic Recovery<br />Contributions<br />Standard of Living<br />Cost of Transfer or Liquidation<br />
  3. 3. Statistical Data<br />§ 3502 (a)(1) – Length of Marriage<br />§ 3502 (a)(2) – Prior Marriages<br />§ 3502 (a)(3) – Age, Health, Station in Life, Amount and Sources of Income, Vocational Skills, Estate, Liabilities, and Needs of Each of the Parties<br />
  4. 4. Prospects for Economic Recovery<br />§ 3502 (a)(3) - Age, Health, Station in Life, Amount and Sources of Income, Vocational Skills, Estate, Liabilities, and Needs of Each of the Parties<br />§ 3502 (a)(5) – Opportunity for Future Acquisition of Capital Assets and Income<br />§ 3502 (a)(8) – Separate Estates, Gifts, Inheritance and Family Resources<br />
  5. 5. Contributions<br />§ 3502 (a)(4) – Contribution to the Education, Training, or Increased Earning Power of the Other Spouse<br />§ 3502 (a)(7) – Contributions to the Acquisition or Preservation of Marital Property, including Homemaker Contributions<br />
  6. 6. Homemaker Contributions<br />meal planning and shopping<br />cooking<br />cleaning<br />researching and selecting furniture, carpets, wall coverings, decorations, vehicles, appliances, clothing, service providers<br />scheduling and supervising home repairs, service calls and maintenance (plumbers, appliance repairmen, tree service, etc.)<br />child care (including feeding, bathing, dressing, making school lunches, administering discipline, attending school conferences, assisting with homework, arranging extracurricular activities, scheduling and keeping appointments with doctors, picking up children at school when ill, etc.)<br />caring for elderly or disabled family members<br />bill paying and budgeting<br />entertaining clients and business associates<br />vacation planning<br />participating in community and charitable organizations<br />
  7. 7. Dissipation<br />Bad investment strategy<br />Prolifigate spending<br />Gambling<br />Money spent on significant others<br />
  8. 8. Standard of Living<br />§ 3502 (a)(6) – Amount and Sources of Income, including Benefits<br />§ 3502 (a)(9) – Standard of Living<br />
  9. 9. Cost of Transfer or Liquidation<br />2005 Amendments to the Divorce Code<br />§ 3502 (a)(10.1)<br />Real estate – commissions & transfer taxes<br />Retirement assets – income tax<br />Investments – capital gains<br />
  10. 10. Allocating Debts and Liabilities<br />§ 3501 (a)(7) – secured debts<br />Hicks v. Kubit, 758 A.2d 202 (Pa.Super.2002)<br />Kronz v. Kronz, 574 A.2d 91 (Pa.Super.1990)<br />
  11. 11. Advances / Partial Distributions<br />§ 3502 (f) – partial distributions<br />§ 3502 (c) – exclusive possession<br />Laczkowski v. Laczkowski, 496 A.2d 56 (Pa.Super.1985)<br />Kokolis v. Kokolis, 83 Pa.D.&C. 3d 214 (Allegheny Co.2006), aff’d, 927 A.2d 663 (Pa.Super.2007)<br />
  12. 12. Credits in Equitable Distribution<br />Fair Rental Value – Gee v. Gee, 460 A.2d 358 (Pa.Super.1983)<br />Vanishing Credit – Sergi v. Sergi, 506 A.2d 928 (Pa.Super.1986)<br />Payment of Marital Debt<br />§ 3502 (e)(5); Duff v. Duff, 507 A.2d 371 (Pa.Super.1986)<br />Diament v. Diament, 816 A.2d 256 (Pa.Super.2003)<br />
  13. 13. ©2010 Brian C. Vertz<br />www.bvsource.com<br />

×