Dividing Personal Property during a Virginia Divorce
If you are fortunate enough to be able to work amicably with your spouse towards a fair and reasonable Virginia divorce settlement, the best way to divide your belongings is to work together with the help of your respective attorneys and agree upon how to allocate your personal property.
However, many couples cannot reach an agreement on their own and the courts must decide what is fair. In this case, it’s beneficial to have a Newport News divorce attorney to help bring to light factors that the court may deem important in assigning you a fair share of the marital property.
The state of Virginia handles property division by way of equitable distribution, and the judge will decide what constitutes a fair division with your marital property. This means that things may not be split straight down the middle, but rather awarded in a way that the judge deems equitable, or reasonable.
When the courts decide how to divide personal property during a Virginia divorce, they consider various factors, such as:
- how much separate property each spouse has;
- duration of marriage;
- earning potential;
- contributions made toward acquiring and maintaining the property;
- homemaking services;
- economic fault (wasting money during marriage, such as in gambling);
- age and state of health; and
- tax consequences.
Avoid rushing into any agreement and unintentionally waiving your rights to property that you may be entitled to. A Newport News divorce attorney that’s experienced in helping women obtain fair settlements can help you protect your personal property in your divorce.
Contacting a Newport News Divorce Attorney
There are very specific rules governing divorce in Virginia, including the ins and outs of property division. At Hofheimer Family Law Firm we are committed to providing you with the experience and compassion you deserve and the successful results you need to move on with your life. Request a FREE copy of our divorce guide for women in Virginia, or reserve your seat at our monthly divorce seminar – 757-425-5200.