If you are on the brink of
divorce in Pennsylvania, you may be wondering, “What counts as marital property?
What property is subject to division?” Under the Divorce Code, all
property acquired during the course of the marriage, with a few exceptions,
such as property owned before the marriage, is marital property, regardless
of who earned the money or whose name is on the title.
property is not subject to division in a divorce. Separate property includes property
owned before the marriage, gifts received before or during the marriage,
and inheritances received before or during the marriage in one spouse’s
name alone. However, keep in mind that any “increase in value”
during the marriage of separate property will be considered as
For example, suppose “John” owned a home before marrying “Elizabeth,”
which he decided to rent out just before the marriage. When the couple
got married, John’s house was worth $100,000, but when John and
Elizabeth filed for divorce, his home was worth $150,000. So, the $50,000
increase in value is considered marital and therefore subject to division
in the divorce. Same goes for inherited property during the marriage,
and other premarital property that remained in one of the spouse’s
names throughout the marriage.
What About Our Bank Accounts?
What if you both kept separate bank accounts during the marriage, does
that mean they remain separate for divorce purposes? Sorry, but if the
bank accounts were opened during the marriage, the funds belong to both
spouses. For example, if you withdraw all the funds from your bank account,
you may have to account to your spouse for the money, even if the bank
account is in your name alone.
If you and your spouse do not negotiate your own divorce settlement, the
court can consider all bank accounts as marital property and divide the
funds in an equitable fashion, regardless of which spouse the bank account
To learn more about our quick and affordable divorces,
contact our firm today!