The recent Superior Court case of Balicki v. Balicki has sent shock waves throughout the family law community. The question family law practitioners face is whether the Balicki decision mandates the court to apply tax ramifications and the costs of sale to all assets when equitably dividing the marital estate.
In 2005, the Pennsylvania Divorce Code was amended. Section 3502 pertains to “Equitable division of marital property.” The following two subsections (10.1 and 10.2) were added to Section 3502(a): “(10.1) The Federal, State, and local tax ramifications associated with each asset to be divided, distributed or assigned, which ramifications need not be immediate and certain”; and “(10.2) The expense of sale, transfer or liquidation associated with a particular asset, which expense need not be immediate and certain.”
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
