Fairfax Property Division Lawyers
Property Division Law in Virginia
Equitably dividing assets is often one of the most complicated aspects of the
divorce process. This is especially true when high net worth couples bring significant
assets into the marriage. If you are considering separation and divorce
or are currently separated and need a skilled
attorney to guide you through asset division and other issues, turn to the skilled
Fairfax property division lawyers at
Our Fairfax asset division attorneys can assist with:
- Valuing assets, including shared properties, the marital home, vehicles,
financial accounts, and personal belongings
- Valuing businesses
- Locating hidden assets
- Dividing shared debts and deciding who will be responsible for each debt
- Helping clients understand the tax implications
Our property division attorneys in Fairfax engage the expertise of appraisers,
tax experts, and business valuators who can assist with untangling the
intricate web of intermingled finances. If you have an existing
prenuptial agreement, our attorneys work hard to ensure that your premarital assets are protected.
Virginia Property Division Laws
In Virginia, marital assets and properties are divided equitably, meaning
in a fair manner but not necessarily an equal split. The percentage each
spouse receives may not be necessarily a 50/50 split, however, the laws
of equitable distribution will take into account the length of the marriage,
how each contributed financially and otherwise to the marriage, tax considerations
and other factors surrounding the marriage and divorce.
What Is Separate Property?
Generally, each spouse keeps his or her separate property, which is the
property that each spouse owned prior to the marriage or that was acquired
during the marriage from separate assets or from someone other than the
other spouse. There are other factors that define separate property, which
should be discussed with a competent attorney.
How Is Marital Debt Divided?
Debts are generally treated the same way as assets and are subject to equitable
division. Other factors can also affect how debts are divided, including
who incurred the debt, when the debt was incurred, and the purpose of the debt.
Equitable Distribution in Virginia
When a couple files for divorce, it will ultimately be up to the courts
to decide on what is separate versus marital property.
According to Virginia Code § 20-107.3, Virginia courts:
(i) shall determine the legal title as between the parties, and the ownership
and value of all property, real or personal, tangible or intangible, of
the parties and shall consider which of such property is separate property,
which is marital property, and which is part separate and part marital
property in accordance with subdivision 3 and (ii) shall determine the
nature of all debts of the parties, or either of them, and shall consider
which of such debts is separate debt and which is marital debt.
Protecting Your Financial Interests
We have successfully represented clients in the negotiation of comprehensive
agreements to divide their assets and debts. When settlement is not possible
in this situation, our skilled litigators can vigorously present a thoroughly
prepared argument and evidence at trial. We combine tenacious courtroom
skills and exceptional advocacy to help our clients obtain an equitable
result that is in line with their financial goals. Learn more about effective
ways to resolve your property division disputes when you contact our team.
Call our office at (703) 935-4222 to reach our experienced property division lawyers in