Safeguard Your Interests And Assets During Divorce
The stress of a divorce is often increased by concerns over the division of a couple’s assets and property. It is one of the major reasons divorces end up in litigation.
I am attorney Joseph H. Beale, and I know that the successful resolution of a divorce requires an experienced hand when it comes to the division of marital property. Whether you have minimal property to divide or complex investments and other holdings, I know how to protect your interests.
Understand How Marital Property Division Works
In Virginia, the debts and assets you acquired during your marriage are handled according to a rule known as equitable distribution. This means that the court tries to be fair about how marital property is divided in a divorce. This does not necessarily mean an even split.
The court will try to determine:
- What property belongs to you alone, like inheritances or gifts
- What property you obtained together during the marriage
- Whether property you owned prior to the marriage has increased in value
- What personal property you or your spouse commingled, making it marital property
- The true value of your bank accounts, retirement plans, life insurance, businesses, real estate, collections and other marital belongings
- Which debts need to be divided as marital debts and which do not
There are also important considerations involving spousal support, child support and tax consequences that may affect the way marital property should be divided. A truly equitable distribution of both property and debt is seldom simple.
Talk To A Lawyer With Experience
I always aim to save my clients as much time, stress and money as possible by using my skills as a negotiator to achieve an amicable division of marital property. When the situation becomes contested and litigation is unavoidable, I will not hesitate to make that move to get a proper settlement.