Divorce Law

Virginia Distribution of Property

One of the biggest stumbling blocks in obtaining a divorce in Virginia is the division or marital assets and debts. Parties often face complex issues regarding property division, including classification and valuation issues. 

The Virginia property division attorneys at Sris PC have extensive experience with assisting clients in understanding the issues involved in classifying assets and debts as marital or non-marital, as well as valuation issues for businesses, professions, and other hard to value assets. The Virginia courts use the process of equitable distributin to divide property between divorcing parties in Virginia if the parties are not able to reach a settlement agreement as to the division of marital property. Therefore, it is even more important that you understand the factors the court may consider in dividing property.

Property division is further complicated in that all similarly valued assets are not created equal. Some assets may have different tax consequences attached to them. We call upon our extensive network of professionals and experts to properly evaluate and value all significant assets.

Property Classification Issues Property Valuation Issues: Our Virginia family law attorneys understand the issues involved with valuing property. For example, a professional practice, such as a medical (doctor's) practice, an engineer, a dentist, or other professional practice; a closely held corporation; stock options; pension plans; collectibles, and other property or assets that may be difficult to value. We work with professional appraisers, business brokers, and real estate professionals to assist us in properly valuing marital assets and debts. : Marital property can be considered for division. Property belonging to one party prior to the marriage may be separate property and not subject to property distribution. However, there are other factors to consider, such as inheritances, appreciation of property during the marriage, whether marital funds paid to improve or maintain the property. We can help you through the myriad of complex issues involved in classifying assets and debts.

If you have a property distribution issue in Virginia, or require assistance in dividing your assets and debts in Virginia, please schedule a free confidential consultation with a Virginia divorce lawyer to discuss your situation by calling us toll free at 1-888-437-7747 or fill out our intake form on our Contact Us page. Make sure you understand your rights and that those rights are adequately protected.