Protecting Your Property Rights In Divorce
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 case law and other factors into consideration.
You have the option of working with your spouse to negotiate an agreement. If that doesn’t work, property division will be decided in court. Throughout the 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 experienced attorney at Coates, Battle & Tyree at 804-729-5537. We have more than 40 years of experience in divorce and understand how to safeguard your rights in property division concerns – no matter how complicated it is. Contact us today for a confidential consultation.
What Gets Divided?
Dividing property includes dividing assets and liabilities. 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.
Dividing Business Assets In Divorce
Coates, Battle & Tyree 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.