When an artist creates a painting or any other work of art, he or she may believe that the art belongs to them alone. However, the courts see things differently. According to the law, that artwork must generally be considered as marital property. Therefore, it must be split in an equitable manner when an artist gets divorced.
When a couple gets divorced, they must decide what they are going to do with any joint insurance policies that they have. For instance, a couple might have been covered under a single health insurance plan. If that is the case, the spouse who is no longer covered may need to get their own coverage through their employer. A spouse may also be entitled to COBRA coverage, which entitles them to the same policy that they had if they pay the entire premium.
If you're preparing for divorce, have you considered the full scope of marital assets to be divided between you and your spouse? For those with significant assets, property division may involve stock options, retirement accounts, mortgages, collectible items, investment accounts, business assets -- the list goes on. In Pennsylvania, marital assets and debts are divided according to what is fair or equitable, though "equitable" may not be "equal."
Though many people in Philadelphia recognize that creating a custody arrangement between divorcing parents may be an extremely difficult part of separating, so is property division. It is how a marital estate is divided that could have a strong impact on either spouse's financial future.
Though many people in Chalfont may think that dividing marital property between spouses is far less emotional and stressful than figuring out child custody and support, they may be surprised to learn how far couples will go to protect their property rights. It makes sense that each individual wants to make sure that he or she is being dealt a fair hand when the shared property is divided; no one wants to be given far less than he or she deserves. After all, Pennsylvania calls for an equitable distribution of property.