Property Division Problems Solved With My Help

Property division is the biggest and most complex aspect of your divorce. The time spent on dividing the marital estate can eclipse the time spent negotiating custody. You need a property division attorney who can prioritize you and your needs.

My name is Melissa Kelley, and I formed my firm, , to help my neighbors across Hampton Roads with their legal problems in family law. I come to the table with a solutions-first mindset, which is a major asset to you in property division proceedings. I look at the big picture and know how to pursue an agreement under high-stakes situations.

Equitable Property Division In Virginia

I want to explain the entire process of the Virginia property division so you can make informed choices. The first thing to understand is that Virginia operates these proceedings on an “Equitable distribution” model.

Equitable does not mean equal. Equitable distribution means that the court looks at many factors before deciding how property goes through division. They will look to:

• Duration of the marriage: A longer marriage typically will see a more “equal” division of the marital estate. The greater length of the marriage is typically seen as a more commingled marital estate.
• Contributions: Contributions do not necessarily mean financial contributions of salary or assets. Emotional support and caretaking are major contributions that can free up a person to pursue a career more fully.
• Economic circumstances: Despite the length of a marriage, a person may have greater financial assets from before they married. They may have an inheritance to rely on.

If you’ve chosen to forgo a “no-fault” divorce, the fault or cause of the divorce, such as infidelity or cruelty, may be part of the decision-making process. In most cases, a no-fault divorce is the least expensive option for those seeking to end a marriage.

The court will determine a fair distribution by reviewing the asset situations of both spouses in the divorce. However, the court does not necessarily have to make that decision. If both sides come to court with an equitable, fair property division agreement, the court will typically sign off on that.

What Makes Up The Marital Estate In Virginia?

The marital estate is the portfolio of assets that spouses jointly own. This includes all assets and debts accumulated during the marriage as well as all salary, retirement benefits and small business loans. It’s actually much simpler to outline what is not a part of the marital estate:

• Anything owned prior to the marriage: Any property, savings, investment accounts or retirement accounts that you owned prior to the marriage is separate property. That value is not a part of the marital estate.
• Inheritances to just one spouse: If you or your spouse inherited a home or vehicle or any amount of wealth, those assets remain in the separate property category.
• Gifts to only one spouse: Gifts are meant for those who receive them. Gifts of money and assets are treated much the same way as inheritances.
• Capital gains and income on separate property: Whether it is investment returns or rental income if it is generated from separate property, that money is also separate property.

However, as simple as this seems, separate property is not a rock-solid border, especially over the course of a long marriage. There are things that can change the separate property designation:

• Commingling: Placing money or assets into the communal use of the marriage, treating an inherited vacation property as communal. Placing income from your properties into a joint account.
• Transmutation: A person can declare a piece of property that was separate as a jointly owned property.

Many people give up their separate property with the best of intentions, but there are major risks involved.

Answering Your Questions About Property Division

As a property division lawyer, my first duty is to clear up your confusion about the process. I spend a lot of time answering questions for clients, but to save you some time, here are some answers that clients need the most:

How is marital property divided in Virginia?

The court categorizes all the assets belonging to both spouses into marital and nonmarital assets. It then reviews all of the factors mentioned above to determine a fair division. If the sides come in with a fair divorce agreement, the court will generally accept that.

Am I entitled to part of my spouse’s business?

This depends on a few factors: when was the business started and what were your contributions to the business. If the business began while you were married or if you became an unofficial partner in the business during the marriage, there is a strong case for you to receive a portion of the business.

I drive a vehicle titled in my spouse’s name. Can I keep my car?

If the vehicle was purchased during the marriage, it will fall under marital property, no matter whose name is on the title. Whether you keep the car or transfer it to your name will be a discussion for your ex’s attorney and me.

Insight, Attention, And Care

Reach out to my firm to get the help you deserve for these challenging issues of property division. Call or send an email using this form.