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Fairfax Property Division Lawyer

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 Fairfax family law attorney to guide you through asset division and other issues, turn to the skilled Fairfax property division lawyer at Malinowski Hubbard.

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, Virginia 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.

How Is Marital Property Divided in Virginia?

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 Considered Separate Property in Virginia?

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.

Source: https://law.lis.virginia.gov/vacode/title20/chapter6/section20-107.3/

Protecting Your Financial Interests in Fairfax, Virginia

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 Fairfax, VA.

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