What Are The Differences Between Separate Property and Marital Property in Virginia Divorce Cases? Divorce is difficult. It’s emotionally, financially and physically tough for most people affected by divorce. However the decisions you make during your divorce will have a lasting impact on your live after divorce. Make the right decisions by getting the best advice and […]
Divorce Property Division in Virginia - Separate, Marital or Hybrid
Call 434-845-2463. Lynchburg Family Law Attorney Marcy Jones will help you make sense of the complex laws defining divorce property division in Virginia. You need to understand what's likely classified as separate property, what's marital property, and what's hybrid property based on the facts of your situation. Here's more information from Marcy's book, Graceful Divorce Solutions.
The division of property in a divorce can be complicated. The parties need to figure out what they own and what they owe. The difference will be the marital estate. Then they need to determine how to divide the marital estate. Problems arise when trying to figure out whether an asset is marital, separate, or hybrid (part marital and part separate). This is called “classification” of the asset. I often spend a lot of time with my clients explaining this matter and helping them to gather the information necessary to know how to classify their assets.
[I]f you and your spouse choose a process other than litigation, you are free to come to any resolution that works for you regardless of what the law says. The law can be used for guidance as needed, but if you are not in litigation, you and your spouse can get as creative as you like in dividing your assets.
Let Marcy's experience and training work for you in helping you understand the divorce property division issues in your case. Better information and better understanding will mean that you make better decisions for your future.
For more information, please call our office at 434-845-2463 or use our contact form to send us an email.