One of the most complex aspects of a divorce is the equitable distribution process. If you are getting divorced and you cannot agree on who owns what, it is critical that you retain the services of a competent Chesapeake property distribution lawyer. Contact Patzig Law today to learn more about how our legal team can help.
Should I Hire a Chesapeake Property Distribution Lawyer?
When spouses get divorced, they often have several assets at stake. For many, the outcome of the equitable distribution process will significantly affect their lives for years to come. Our legal team is here to protect what is yours.
How Does Equitable Distribution Work in Virginia?
In the Commonwealth of Virginia, courts will consider several factors when determining which property is considered marital property, and which property is considered separate or part separate and part marital property.
When determining which property is considered marital property, the courts will consider the monetary and non-monetary contributions each spouse made to the marriage and well-being of the family. So, even if you or your spouse stayed at home, raised children, and did work around the house, courts will absolutely consider this when determining which marital assets you are entitled to.
Any property deemed to be marital property will be subject to equitable distribution, while any property deemed to be separate property will be exempt from equitable distribution. Note that “equitable” does not mean “equal;” instead, it means a fair and just distribution of assets in the eyes of the court. Our experienced Chesapeake divorce lawyer can help ensure that your contribution to the marriage is made known. We will fight for your hard-earned assets.
Common Examples of Separate Property
There are several types of property that are generally considered separate property in a divorce. They are as follows:
- Gifts from people other than your spouse
- Certain property acquired prior to marriage
- Property acquired after separation
- Income generated by, or received from, separate property
Common Examples of Marital Property
Marital property typically makes up the majority of a couple’s assets, as it can include the following:
- Their home
- Multiple properties, such as vacation homes
- Retirement accounts
- Assets held in bank accounts
Protecting Property from a Divorce
You should note that by drafting a prenuptial agreement before marriage, you can outline exactly what you wish to happen with both marital and nonmarital assets, should you ever get divorced. You should also note that even if you are already married and have not created a prenuptial agreement, you may still draft a postnuptial agreement, which serves the same basic purpose. Our legal team can help.
Contact a Chesapeake Property Distribution Lawyer
For years, our legal team has fought on behalf of countless individuals who are looking to protect what is rightfully theirs, and we are here to do the same for you. Contact Patzig Law today to schedule your initial consultation with our firm.