Divorce Lawyers Document Fort Wayne
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FAQ
A settlement agreement is not a mandatory document in all divorce cases; however, if the parties are divorcing by mutual consent (i.e., an uncontested, no-fault divorce), a marital settlement agreement is required in most Pennsylvania counties.
Settlement agreements are common in divorce and marital disputes, property disputes, personal injury cases, and employment disputes. These agreements not only keep disputes out of court, but they also save parties from having to pay expensive legal fees for continued litigation and trial.
Pennsylvania operates as an equitable distribution state, which means that marital property is divided fairly between spouses. This does not mean that assets will be split evenly among the couple. Instead, the PA Divorce Code utilizes a number of factors to determine fairness in the property division process.
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Whereas this law previously stated that the spouses involved with the divorce must have been living separately for no less than two years, the law now reads that the involved spouses must be separated for no less than one year in order to obtain a lawful divorce in PA under 3301(d).
A Marital Settlement Agreement is a contract between spouses that divides the marital assets and debts and resolves other issues relating to the divorce including child support, spousal support, alimony, counsel fees and costs, and child custody.
Even though Pennsylvania law does not mandate a 50/50 division of marital property, in practice, a 50/50 division is quite common. If the divorcing spouses have similar incomes from their jobs and the marital assets include a home and modest retirement accounts, the courts will often order a 50/50 division.