Property division is one of the primary elements of any divorce. After issues involving children—such as child custody, visitation, and child support—property division is also one of the most complex and crucial aspects of divorce. Typically, both spouses want to maximize their share of assets, which can lead to contentious court battles. Even in instances where collaborative divorce or mediation are possible, property division can be a lengthy and complicated process.
Regardless of the amount or value of assets you have, it is important that you speak with a property division lawyer in Fairfax. An experienced attorney can help you make sure that you receive a fair distribution of property and that your financial future is secure after a divorce.
If you are going through a divorce and need assistance with property division, contact DiPietro Law Group, PLLC for a consultation.
Marital vs. Separate Property in Virginia Divorces
Like many other states, Virginia recognizes both marital and separate property. Only marital property will be divided between both parties during divorce proceedings. Separate assets will remain the property of each individual spouse.
So, what is the difference between marital and separate property?
- Marital Property: Otherwise known as “shared” property, marital property is any real property or assets gained during the course of the marriage. This includes any income earned after the date of marriage by either spouse or any real property purchased with marital finances during the course of the marriage. Examples of marital property include a shared home, a shared vacation home, cars, household items, electronics, investment interests, etc.
- Separate Property: In Virginia, separate property is any property that was owned by one spouse prior to the marriage or any property acquired by one spouse during the marriage, either as a gift, an inheritance, or through money earned before the date of marriage. For example, if a wife owned a home outright before she was married, this home would be considered separate property in the event of a divorce.
The line between marital and separate property is not always black and white. For example, if one spouse owns a business prior to marriage, but his wife puts time and work into growing that business during the course of their marriage, the income earned from the business may be considered marital property. Similarly, if one spouse buys a house and the property is solely in his or her name but the other spouse makes mortgage payments or mortgage payments come from marital income, the house may ultimately be deemed marital property.
How Our Firm Can Help
As you can see, the division of property during a divorce is rarely a simple, straightforward process. It is wise to enlist the help of an experienced divorce attorney who can help you navigate the complex and often contentious issues that arise.
At DiPietro Law Group, PLLC, our Fairfax property division lawyers can assist you with the division of all types of properties and assets, including:
- Family homes
- Multiple real estate properties
- Rental properties
- Business properties
- Hidden assets
- Personal/separate properties
- Pensions, 401 (k)s, and retirement accounts
We can also assist you with high net-worth divorce and the various property division complications that can arise in such situations. Our team is extensively experienced in all aspects of property and asset division for all types of circumstances.
Schedule a Consultation Today
Every situation is different and the various factors involved in your divorce will guide our property division strategy. Regardless of the circumstances, we work to resolve conflicts as quickly and agreeably as possible, all while preserving your assets and best interests. We understand that sometimes, uncontested divorce is simply not possible, particularly when it comes to long marriages or those with significant shared assets. In such instances, we are prepared to aggressively advocate for you in the courtroom. With more than 42 years of combined legal experience, our team of property division lawyers in Fairfax understands how to protect your security and future.
Reach out to us today by calling our office or by filling out an online contact form. We offer confidential consultations at our various office locations.