Richmond, Virginia, Property Division Lawyers
The division of marital property and allocation of debt are often contentious issues in a divorce. Accordingly, it is extremely important that you understand your rights regarding property division in order to ensure fair and equitable distribution of both marital assets and debt.
Are You Concerned About Property Division?
Virginia is an equitable distribution state; this means that rather than dividing marital property equally, it is divided in a manner that the court deems fair. While judges apply statutes and case law to determine equitable division, couples do have the option of negotiating the division of assets on their own.
For example, you may want the house, but are willing to give your spouse the car and boat in exchange. At Jennings and Jennings, we will fight to protect your property interests either in court or through negotiation with your spouse.
Contact Jennings and Jennings to discuss your situation with an experienced lawyer at our firm.
In making a decision regarding the division of assets, the court will consider a variety of factors, including:
- Monetary and non-monetary contributions to the family
- Duration of marriage
- Tax implications
- Age, health and mental condition of the parties
- Debts
- Circumstances of the divorce
- Child custody and child support arrangements
Untangling Complex Assets
Only marital property, not separate property, is eligible for division during a divorce or legal separation. Separate property generally includes property acquired before the marriage and maintained as separate property, or it can be property received either as a gift or inheritance from a source outside of the marriage.
When a couple has complex assets or owns a business, classifying and separating the assets can prove to be a complicated process. Jennings and Jennings has been handling family law issues for more than 40 years. We have a thorough understanding of Virginia law and can help you accurately and effectively divide complex and intermingled marital assets.
Recent Decisions from the Virginia Court of Appeals Dealing With Marital Property Division
In almost every divorce, the parties will need to consider the division of marital assets. Our property division lawyers will help you understand what to expect from the divorce process. Rest assured, we will zealously advocate for your best interests either in court or during negotiations.
Contact Jennings and Jennings to discuss your concerns and interests with one of our experienced family law attorneys.
Richmond, Virginia, lawyers for individuals and families since 1961
