Emotional stress aside, when going through a divorce there are a lot of logistics to keep track of. It is not always easy to decide what property should belong to which party. In Virginia, courts follow the law of “equitable distribution,” meaning that in many divorces each spouse can expect a fifty-percent share in the marital property, but unlike in community property states, each may receive more or less than one-half.
If you are experiencing a divorce and find yourself unsure of how you and your spouse should share your property, it is in your best interest to appoint an experienced divorce lawyer to take the negotiation process off your hands. Tesler & Werblood are expert divorce attorneys in Falls Church, Virginia, and are prepared to help with even the trickiest cases.
Have questions about property distribution? Read below to find answers.
— What is the difference between separate and marital property?
To determine what property each person should get, you must first determine what is classified as separate property, and what is classified as marital property.
Separate property is the more limited of the two. Items in this category belong to one spouse only and are not to be split between the parties. The following qualifies as separate property:
- Property acquired prior to the marriage
- Property acquired post-separation
- Property that was inherited or given as a gift to one spouse in particular
- Items purchased during the marriage with money acquired from selling separate assets
- Income acquired through separate property
When dividing assets between the spouses, courts consider their marital property.Marital property is property acquired after marriage and before separation, and this what is split up during a divorce. Courts will consider income, child custody, and other factors as well when deciding which person each item should go to, and how those items translate into a monetary value.
— Can spouses enter into their own agreements regarding property division?
The short answer? Yes, but it is not a good idea. When entering into an agreement on how to distribute property, the aspects of the negotiation can be observed in a document known as a “separation agreement.” While people can create their separation agreements, it is unlikely that they will reach a conclusion that satisfies each party, includes the required provisions, and uses the correct language. Divorce lawyers in Falls Church like Tesler & Werblood understand the ramifications of property division and can give you the help you need at this time.
— Where can I find a divorce attorney in Northern Virginia?
If you are in need of a divorce attorney in Northern Virginia, you have come to the right place. Tesler & Werblood is a team of lawyers that has the experience to assist you with property division, as well as any other legal issues involved. Divorce can be tough, and you should not have to go through the stress of it by yourself. Don’t wait; call Tesler & Werblood today at (703)-534-9300to schedule a consultation.