Divorce In Virginia & Property Division
Know everything you can about your spouse’s belongings and income is critical to your Virginia divorce case. Do not be left in the dark when it comes to property. Protect yourself from being a victim in a divorce. Get copies of income tax returns, any and all financial statements you sign, all bank and stock statements you can find, and any computer files which has information about your family finances. Knowledge is power and you must know what marital property is out there.
With the assistance of a Virginia divorce attorney, the vast majority of divorcing couples are able to cordially come to agreeable terms concerning division of their property. However, in the event a couple cannot agree, the process of dividing property is one of the more complex areas of divorce and family law. Virginia’s property distribution scheme is referred to as equitable distribution. Having a divorce attorney who is experienced in Virginia’s equitable distribution scheme will ensure the best possible outcome for your case.
As a general rule, the court cannot distribute property until the end of the divorce case in Virginia. While the divorce is pending, the only asset order which a court will usually enter while the suit is pending is known as a pendente lite order (a “freeze” order), ordering both parties not to sell or dispose of an asset until the final hearing.
The goal of Virginia’s system of property division, known as “equitable distribution,” is to divide divorcing couples’ marital assets equitably giving due consideration to both their monetary and nonmonetary contributions to the acquisition of property and the marriage. Retirement benefits are subject to division just like any other asset acquired during the marriage. To receive everything you are entitled to receive, it is important to be aware of all of the different retirement assets your spouse may have and the ability to divide these benefits in the future.
Virginia equitable distribution courts approach property division with the guideline of equitable distribution of assets. Judges can look at a number of factors to divide the property including a spouse’s contribution to acquiring and maintaining the property, contribution to the family’s overall well-being, and the fault of either party during the marriage.
Virginia follows an equitable distribution of property scheme. This does not mean an equal division. Rather, the equitable distribution system of property division aims to divide a divorcing couple’s property fairly. In order to do that, a court must first categorize the couple’s property as separate or marital.
There is more to property division than simply dividing everything 50–50. Property distribution in Virginia requires fair and equitable distribution. That means that the court will decide what is fair after taking existing case law and other factors into consideration.
Ordinarily, a separate asset which is contributed towards a marital asset during the marriage becomes marital, but if the amount of the contribution of a separate asset can be documented and traced by a preponderance of the evidence, the asset may be treated as the hybrid asset.
If you need the help of a property division lawyer in Virginia for your divorce case in Fairfax, City of Fairfax, Prince William (Manassas), Fauquier (Warrenton), Loudoun (Leesburg), Caroline, Stafford, Spotsylvania (Fredericksburg), Chesterfield, Henrico, Arlington, Richmond, Alexandria, call our law firm immediately for help and speak to a lawyer about your options.
The SRIS Law Group can help you best possible outcome based on the facts of your case. If you wish to consult an SRIS Law Group, P.C. property division attorney in Virginia for your divorce case, call us at 855-696-3348. B