Skilled Guidance Through The Property Distribution Process
Experienced Manassas Lawyers for Asset Division Matters
Anyone facing divorce in Virginia must prepare for the major financial adjustments that come when all marital assets are divided between the parties. Although it is far from an automatic part of the equation, spousal support (sometimes called alimony or maintenance) may also be awarded. If you are concerned about your economic stability and well-being, it is essential to discuss these issues with a qualified lawyer as early in the process as possible.
Many people rely on misconceptions about how our courts handle property division and spousal support, and thus they fail to properly prepare their positions. Others wait too long to take measures to protect themselves against exploitation by their spouses or domestic partners. At Family Law Group, with offices in Manassas and Fairfax, we are committed to thoroughly analyzing your situation and negotiating or litigating to achieve just outcomes.
What Is Equitable Division?
Part of your divorce process will involve dividing your marital property. In Virginia, the court will use the concept of equitable division to help do this. Before going to court and dealing with the property division process, you should have a good understanding of what equitable division is and how it works.
There is a misunderstanding that when a court divides property it does so evenly. The reality, and the basis for equitable division, according to the Virginia State Bar, is to divide property in a fair manner. To do so, the court needs to categorize property as either marital or separate. It is possible for property to be partial both marital and separate.
You both own marital property. It is something you acquired during the marriage. Only one of you owns separate property. You would have acquired it before your marriage. For something to be partial marital and partially separate property, you would need to have some overlap where separate property somehow became marital property in some way.
Turn To Knowledgeable Attorneys For Help With Property Division And Spousal Support
We assist clients with all aspects of equitable distribution in divorce and spousal support, and we also represent partners in same-sex and unmarried relationships in Circuit Court actions to resolve disputes over joint assets.
If you are divorcing and subject to equitable distribution, it is important to realize that:
- Usually, all assets incurred during the marriage or gifted toward the marriage are subject to equitable distribution, regardless of how they are titled and various other factors. This includes 401(k) accounts, other qualified retirement plans, pensions and a range of other assets that may be held in one party’s name alone.
- The law in Virginia does not require a “50-50” split of marital property, although this is the targeted outcome in many cases.
- Full financial disclosure is required by law, but not everyone provides it willingly.
- Spousal support awards are considered after the court completes its property analysis, and Virginia courts have significant discretion in determining the amount and duration of payments.
- Resolving any asset and monetary disputes through negotiation or mediation should always be considered first as the way forward, but defense of your financial interests may ultimately call for a trial-proven litigator.
Contact Our Family Law Attorneys
The attorneys at our firm welcome client inquiries from throughout Northern Virginia. Our work together begins with an in-depth analysis of your case. To schedule a consultation, please contact us by telephone at (703) 552-5072, or email us today.