Property division is one of the most critical and often contentious aspects of a divorce. The decisions made about how to divide your assets and debts will have a lasting impact on your financial future. At Raheen Family Law, our experienced Fairfax property division lawyers understand the complexities of Virginia’s equitable distribution laws and are committed to protecting your rights and securing a fair settlement for you.
Understanding Equitable Distribution in Virginia
Virginia is an “equitable distribution” state, which means that marital property is not necessarily divided 50/50. Instead, the court will divide the property in a way that is fair and just to both parties. The court will consider a number of factors when making this determination, including:
The tax consequences to each party.
The contributions, both monetary and non-monetary, of each party to the well-being of the family.
The contributions, both monetary and non-monetary, of each party to the acquisition and care of the marital property.
The duration of the marriage.
The age and physical and mental condition of the parties.
The circumstances and factors which contributed to the dissolution of the marriage.
How and when specific items of marital property were acquired.
The debts and liabilities of each spouse, the basis for such debts and liabilities, and the property which may serve as security for such debts and liabilities.
The liquid or non-liquid character of all marital property.
Marital vs. Separate Property
Before the court can divide your property, it must first classify it as either marital or separate property. Marital property is any property that is acquired during the marriage, regardless of whose name it is in. Separate property is any property that was acquired before the marriage, or that was received as a gift or inheritance during the marriage.
In some cases, property can be part marital and part separate. This is known as hybrid property. For example, if you owned a home before you were married, but you used marital funds to pay the mortgage, the home would be considered hybrid property. The division of hybrid property can be very complex, and it is important to work with an experienced Fairfax property division lawyer who can help you to protect your interests.
Complex Asset Division
At Raheen Family Law, we have extensive experience handling complex asset division cases, including those involving:
Retirement accounts: We can help you to divide your retirement accounts, including 401(k)s, pensions, and IRAs, in a way that is fair and that minimizes the tax consequences.
High-net-worth individuals: We have the resources and expertise to handle cases involving significant assets, such as business interests, stock options, and real estate holdings.
Business owners: We can help you to value your business and to protect it from being unfairly divided in the divorce.
Military families: We understand the unique rules and regulations regarding the division of military pensions and other benefits.
Contact a Fairfax Property Division Lawyer Today
If you are facing a divorce in Fairfax, it is important to work with an experienced property division lawyer who can help you to protect your rights and to ensure that you receive a fair and equitable settlement. At Raheen Family Law, we are committed to providing our clients with the highest quality legal representation and the personal attention they deserve. Contact us today to schedule a confidential consultation with an experienced Fairfax property division lawyer.
practice areas
Contact us
Testimonials
thorough, organized, and compassionate
approach
“Working with Laila and her team was a breath of fresh air—I only wish I had found her sooner.
After two disappointing experiences with other attorneys, I was nervous to start over, but
Laila’s thorough, organized…
