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March 2015 Archives

Accurate valuation essential in high-asset property division

Deciding to end a marriage is not an easy decision and there are many issues that need to be resolved before a divorcing couple can put an end to their legal relationship. One of the issues that may be the root of a divorce dispute is asset division. Couples tend to accumulate a lot of property during the course of their marriage, including art, as discussed in the previous post on the Scranton Divorce Law Blog, and determining which property was procured at which point is essential to the property division process.

Considering art assets upon divorce

For art enthusiasts in Pennsylvania, art pieces are valuable assets that must be collected. For a spouse whose livelihood depends on the extraordinary and colorful creations, the masterpieces are like properties that should be preserved and appreciated. But what will happen to those art assets in the event of a high-asset divorce? Will they remain the sole property of the artist? Or are they treated similarly to any other assets that can be divided between the spouses?

How Pennsylvania law governs property division during divorce

For Pennsylvania couples who go through divorce, there are several issues that can create strong and often negative emotions. Property division is certainly one of them. This is not surprising considering that the finances of both spouses are at stake and that the decisions they make now will affect them for years. For this reason, divorcing Pennsylvanians should be aware of the state laws governing the division of property.

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