When you were first married, you and your spouse both came to the marriage offering unique talents and access to different resources. Over the years, you worked together to earn and acquire property, business interests, savings, and other assets that helped you build the life you have today.
Now, as you navigate the process of divorce, it’s time to face the difficult question of just how to divide all those things you worked so hard to maintain. In some cases, spouses easily agree on what should go to whom, but in many other cases, it can be difficult to divide that life.
In either case, it is important to understand how the state of Virginia approaches the distribution of assets and debt and how those rules will impact your life going forward. Fairfax divorce attorney Alanna Williams has helped many clients successfully protect their rights and interests during this process, and she may be able to you, too. Take a moment to fill out our online contact form. You’ll receive a prompt response from our legal team who can help you get started with a free, no-obligation consultation.
Every state addresses the question of asset division a little differently, so where you live matters in a divorce. Virginia is one of many states that approaches this important topic with a system known as equitable distribution. Equitable distribution is the idea that the assets should be divided fairly between the parties. Under this system, the courts look at each asset and determine which category it would fall under:
It is important to note that state’s goal of “fairly” dividing marital property does not necessarily mean equal division. The distribution is affected by a number of factors, and Virginia’s system leaves a considerable amount of leeway for a judge to decide what should be awarded to whom. Some factors that are typically considered include:
Over the course of a marriage, especially those with many assets, the line between what is mine and yours and ours can become blurry. This can make it difficult to divide both assets and debt. In some cases, spouses and their lawyers can negotiate an agreement that is acceptable to all parties. In many others, however, this is not possible and it will be up to the courts to decide who gets what. In either case, it is important to have a vigorous, experienced advocate on your side to make sure your rights are protected and your future will be secure.
While spouses often don’t want to seem greedy or selfish, it is important to make sure you are awarded the property that you deserve and that will help set you up for a financially safe future. Additionally, an experienced attorney and her team can help you examine and understand all the assets that may be part of your divorce. Then, you can ensure you fully understand the future possibilities and implication of each asset (or debt), and prepare your case to fight for what you need.
The Law Office of Alanna Williams has done this for many Virginia clients, and she will put her experience, compassion, and tenacity to work for you. Call our Fairfax office today at 703-273-1000 to learn more about how we can help and to schedule a free, no-obligation consultation.