Equitable Distribution

HIDING ASSETS IN A DIVORCE

Jul 13, 2017

Imagine that you win millions of dollars in a lottery. Your spouse did not have a ticket. A month after you win, you file for divorce. You never disclose that you won the money or the amount of your winnings. Read more… Well over a year after the divorce, your former spouse receives a letter […]

Read More

EQUITABLE DISTRIBUTION SHOULD CONSIDER THE EXPENSES AND TAXES OF A POTENTIAL SALE

Jul 11, 2017

In the family law, equitable distribution case of Carney v. Carney, PICS No. 17-0944 (Pa. Super. May 31, 2017), the Pennsylvania Superior Court ruled that the trial court erred in failing to consider evidence related to the potential sale of the parties’ successful trucking business before assigning the entire asset to husband as part of […]

Read More

BUSINESS VALUATION IN DIVORCE

May 04, 2017

DIVORCE LAW- FAMILY LAW BUSINESS VALUATION IN DIVORCE Dividing a business owned by one spouse can add a level of complexity to a divorce. If a court decides the business is considered marital property, the value of the business must be determined and divided between the parties. In a community property state, the value may […]

Read More

Is My Inheritance Considered Marital Property?

Mar 15, 2017

Inheritance Treated As A Gift To The Marriage And Is Marital Property For Equitable Distribution Purposes In the family law, equitable distribution case of Cowler vs. Cowler, PICS Case No.16-1284 (C.P. Centre, June 26, 2016) two parties in divorce, each with premarital assets from their prior lives, disagreed on the equitable distribution of their marital […]

Read More

PIERCING CORPORATE VEIL WAS THE APPROPRIATE REMEDY IN EQUITABLE DISTRIBUTION DIVORCE PROCEEDING

Feb 24, 2017

After the end of their marriage, wife sought equitable distribution of the marital assets, including payment on a judgment to her from ex-husband’s company for unpaid contributions. Because of undue influence and commingling of funds, among other reasons, the court found that piercing the corporate veil was appropriate in the present case. Partial payment of […]

Read More

MISTAKE CONCERING THE TAX CONSEQUENCES OF THE RETIREMENT ACCOUNTS DOES NOT RENDER MARITAL SETTLEMENT AGREEMENT UNFAIR OR UNENFORCEABLE

Jan 24, 2017

After plaintiff initiated this action for divorce, the parties attempted to negotiate a settlement agreement. After six months, the case came before a matrimonial early settlement panel. After several hours of conferencing and negotiations, the parties and counsel signed a matrimonial settlement agreement (“MSA”). According to plaintiff, subsequent to the divorce hearing, his counsel realized […]

Read More

MARITAL EQUITY OF PREMARITAL HOME IS SPOUSE’S EQUITY AT THE TIME OF THE MARRIAGE; NOT THE PURCHASE PRICE

Jan 18, 2017

In the family law, equitable distribution case of Mundy vs. Mundy, PICS Case No. 16-1484 (Pa. Super. Nov 16, 2016) the Honorable Mary Jane Bowes, writing behalf of the Pennsylvania Superior Court, ruled that the trial court erred when calculating the marital equity in a home which was originally a non-marital asset in using the […]

Read More

WIFE IS ENTITLED TO A PLENARY HEARING THAT SHE SIGNED THE PROPERTY SETTLEMENT AGREEMENT UNDER MISTAKE, FRAUD OR DURESS

Oct 28, 2016

After 10 years of marriage, the parties signed a property settlement agreement and were divorced. Defendant, the former wife, signed the PSA, which had been prepared by the attorney for plaintiff, her husband, when she was not represented by her own attorney. The PSA provided, among other things, that defendant waived alimony and equitable distribution […]

Read More

DIVORCE SETTLEMENT AGREEMENT BETWEEN HUSBAND AND WIFE WITHOUT ATTORNEYS IS ENFORCEABLE

Oct 20, 2016

In the family law, equitable distribution case of CFP V. REP Jr. PICS Case No. 16-0842 (C.P. Lycoming June 22, 2016) the Honorable Joy Reynolds  McCoy granted Wife’s petition to enforce property settlement agreement in that the court determined had the force of a contract. On September 19, 2014, plaintiff CFP filed for divorce from […]

Read More

Don’t Let Divorce Derail Your Retirement Plans

May 26, 2016

Divorce is never easy, but the divorce of a long-married couple can be especially hard, particularly when it comes to retirement and estate plans. Assets, including retirement accounts, can be hard to divide, and the presence of children—and possibly grandchildren—can require the wholesale revision of existing estate plans. If you’re divorcing or moving on to […]

Read More