Knowledgeable Divorce Attorneys Protecting Your Interests In Equitable Distribution Proceedings
Divorce isn’t just the end of a romantic relationship, but a legal process by which a couple’s financial ties must be unwound. At The Bice Law Group, our attorneys have more than 35 years of experience helping spouses collect a fair share of their marital estate. Regardless of the nature of your case, you can rely on us for sound counsel during negotiations, mediation, and court proceedings relating to the allocation of shared assets and debts.
How Are Assets Divided In A Virginia divorce?
Our firm advises divorcing spouses on all aspects of property division issues, such as:
- Equitable distribution — Virginia is an equitable distribution jurisdiction, which means that if the parties cannot agree on a distribution of marital assets and debts, the judge makes a decision based on what they think is fair. The outcome does not have to split the value of the marital estate equally between the parties.
- Negotiations — Spouses usually have the best handle on what they own, and we are skillful negotiators who help clients avoid the hassles and expense of litigation whenever possible.
- Court considerations — When deciding what is fair, the law requires judges to consider various factors, including each spouse’s contributions to the family, the age of the parties, and the tax consequences associated with the property division.
You can count on us to advocate effectively on your behalf so you can move on from your marriage on sound financial footing.
What Happens To Assets The Spouses Owned Before The Marriage?
The assets that a spouse owned individually prior to the wedding belong to that spouse when the marriage ends. Gifts and inheritances directed to one individual spouse during the course of the marriage are also classified as separate property and are not subject to division. Sometimes, parties to a divorce disagree over whether a particular asset should be classified as separate or part of the marital estate. In these cases, our firm details the relevant legal standards and advocates for a favorable resolution.
What Happens To The Marital Home In A Divorce?
Often, the family home is the most valuable asset in a marital estate. If both spouses wish to remain in the residence, negotiating a solution can become very difficult. We examine various factors, including custody arrangements and each party’s ability to afford a new home, to evaluate how a court might decide this issue. Regardless of the specific facts, we can advise on creative ways to compensate the party who will be giving up the ownership of the residence when the divorce is finalized.
Property Division Orders And Prenuptial Agreements
Couples frequently execute prenuptial and postnuptial agreements to clarify each side’s property rights in the event of a divorce. However, a court might not honor the terms of a pact that is unconscionable or based on misrepresentation. As an experienced Lynchburg prenuptial agreements attorney, David Bice can review the document in question and advise as to whether there might be any problem enforcing it. If the agreement is valid, we will clearly outline what type of result you can expect given the language in the document.
Does A Spouse’s Behavior Affect Their Property Share?
Along with other factors that are considered by Virginia judges in equitable distribution proceedings, marital misconduct can be taken into account. One spouse’s adultery or abusive behavior could reduce their share of the marital estate that they receive. Showing a financial link to the misconduct, such as marital funds used to support an affair, might increase the likelihood that a spouse’s bad behavior will affect the overall distribution of property.