Who gets the house? What about the debt? Am I entitled to some of her retirement fund? Do I have to share my inheritance?
When a separation and divorce occurs, permanent financial decisions must be made. Be very careful how you make these decisions. They can have a LIFELONG effect on the quality of your life. If you have questions about your division of property / divorce settlement, contact our firm and arrange a consultation.
Attorneys at our Richmond area family law firm will help you do a careful and complete assessment of the financial assets involved in your divorce, including personal property, the home, investments, retirement plans, hidden assets, income, health insurance, and business stock or partnerships.
In Virginia, division of property by the court is called “equitable distribution”. Assets can be considered by the court to be “marital”, “separate”, or “hybrid”. Marital property and the marital portion of hybrid property will be divided. The date of acquisition will be used to determine the classification of property. The valuation and classification may involve appraisals, tax assessments, or expert opinions.
Other factors considered include the monetary and non-monetary contributions of each party, the duration of the marriage, tax implications, and circumstances contributing to the divorce.
If you are considering divorce, or suspect your spouse is planning on filing for divorce, it is important that you take steps to protect your economic future before separation, if possible. Our divorce lawyers will help you with the process of identification, valuation, and classification, to establish your equitable distribution rights.
If couples are able to work together on a property settlement, our firm offers several collaborative divorce programs which will help them work out differences.
If you are involved in a divorce, it is absolutely critical that you choose an attorney capable of effectively negotiating on your behalf and aggressively representing you at trial. Negotiations have a far greater chance of success if the other side knows that, if a beneficial settlement is not reached, they will face a powerful opponent in court. We are skilled and creative negotiators, as well as powerful trial lawyers, capable of fighting for you and your future in and out of court.
Property Settlement Agreements
If you are concerned about your rights concerning property division, contact our Virginia divorce lawyers today.
