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.
Who Gets The House When Divorcing?
You have the option of working with your spouse to negotiate an agreement. If that doesn't work, the issues of property division will be decided in court. Throughout the property division process, it is helpful to have experienced counsel to guide your decisions — someone who understands the law and how the courts function.
If you are thinking about getting divorced, call an accomplished property division lawyer at Coates & Davenport, P.C., in Richmond, Virginia, at 804-729-5537. We have more than 40 years of experience in divorce, including property division and child support.
We can safeguard your rights in property division concerns that range from simple to very complicated. Contact us today for a confidential consultation in our Richmond, Virginia, law offices.
We Are Litigators By Nature, Not Settlers
Do not hire us expecting to give away your rightful share of marital property. Opponents know and respect us for our aggressive skills in property division and equitable distribution.
Dividing Your Assets
Dividing property includes dividing assets and liabilities. In order for the process to go forward, we need an accurate picture of what you own and what you owe, including:
A list of all properties owned:
- Income of each spouse
- The last two to three months of mortgage and credit card statements
- Checking and savings account balances
- Retirement and pension accounts
- Tax liability
Generally only the property acquired during the marriage is considered marital property, so property owned before marriage would not be subject to division. It is important that the facts be reviewed by a capable attorney, so that division is fair and equitable.
In certain circumstances, bankruptcy is an appropriate financial planning tool. Our firm has the resources to help you work through these issues, including skilled bankruptcy counsel.
Dividing The Assets Of A Small Business
Coates & Davenport, P.C., can assist you in valuing family business assets and financial interests in closely held companies.
Our attorneys analyze executive compensation packages, real estate investments and retirement benefits. We enlist financial consultants in property valuation disputes to develop strong cases for our clients and improve their financial outcome.
Schedule a consultation with a qualified Richmond property division attorney by calling 804-729-5537 or contacting us online via our online contact form.