Virginia is an equitable distribution state, meaning that marital property will be divided fairly (although not necessarily equally). Retirement accounts may be considered marital assets that are subject to division, meaning that it is possible for a person to walk...
High Asset Divorce
A high asset divorce can bring financial surprises
According to a survey conducted by Worthy, an Internet marketplace, 46 percent of female respondents who were contemplating divorce, were in the process of divorcing or were currently divorced reported that they experienced unexpected financial issues due to the...
Virginia courts may consider certain factors in property division
Some of the hardest decisions a couple going through a divorce in Virginia will have to make have to do with dividing their property. After all, over the course of their marriage they may have accumulated many highly-valuable assets such as a house, vacation home,...
Avoid these behaviors in a high-asset divorce
When a wealthy couple in Virginia decides to divorce, there is so much at stake. The couple may have spent years or even decades amassing a substantial amount of financial wealth. They may own several pieces of real estate, they both may have a lot of funds held in...
Can one keep separate property from becoming marital property?
Some couples in Richmond who have significant wealth going into a marriage will execute a prenuptial agreement to protect their separate financial interests in the event of a divorce. However, some high-asset couples may have thought a prenup was unromantic or...
What should one consider when it comes to divorce and retirement?
A marriage can last a long time, but even couples in Virginia who have been married for decades can one day decide to divorce. But, older couples will have to keep retirement in mind when it comes to property division. This is especially true in a high asset...
What types of spousal support may be awarded in Virginia?
Sometimes, a married couple decides that one spouse will stay at home to care for the family, while the other spouse pursues a career. The working spouse is able to "climb the corporate ladder" and ultimately sees career success that leaves the couple well off...
Property division: Marital property versus separate property
In Virginia and in most other states in the nation, when a couple is seeking a divorce their property will be divided per equitable distribution. When property is divided in this manner, a judge will decide what would be fair to both parties, meaning that it may not...
Representing your interests in the property division process
When a couple in Virginia divorces, does their property simply get split 50/50? Not necessarily. In Virginia, property division will be done through equitable distribution. A judge will determine what is fair in each couple's situation, and this may not always mean...
High-asset divorce requires fair asset valuation
No matter how amicably a divorcing couple in Richmond wishes to split, heightened emotions can cloud one's judgment, and lead a person to make less-than-rational decisions. This may be especially true in a high-asset divorce, since the stakes are so high. Therefore,...