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Pennsylvania is an "equitable distribution" state. Separate Property that is: (1) acquired prior to the Marriage; (2) acquired in exchange for any separate Property; (3) any gifts and inheritances; and (4) any Property designated as separate in a valid agreement between the spouses, will be retained by the spouse owning it. All other marital Property will be divided equitably, without regard to any marital misconduct, based on the following factors: (1) the contribution or dissipation of each spouse to the acquisition, preservation, depreciation, or appreciation of the marital Property, including the contribution of each spouse as homemaker; (2) the age and health of the spouses; (3) the vocational skills of the spouses; (4) the value of each spouse's Property; (5) the economic circumstances of each spouse at the time the division of Property is to become effective; (6) the length of the Marriage; (7) the tax consequences to each spouse; (8) the occupation of the spouses; (9) the amount and sources of income of the spouses, including retirement and any other benefits; (10) the vocational skills of the spouses; (11) the employability of the spouses; (12) the liabilities and needs of each spouse and the opportunity of each for further acquisition of capital assets and income; (13) the standard of living established during the Marriage; (14) whether a spouse will have custody of any minor children; (15) any contributions toward the education, training, or increased earning power of the other spouse; (16) any prior marital obligations; and (17) any other factor necessary to do equity and justice between the spouses. The court may require a spouse to purchase or maintain life insurance and name the other spouse as beneficiary. Both spouses will be required to submit an inventory and appraisal of their Property. [Pennsylvania Consolidated Statutes Annotated; Title 23, Sections 3501, 3502, and 3505].
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