It takes work and time to reach an equitable property settlement

On Behalf of | May 15, 2020 | Divorce

During your marriage, you may have worked diligently to build a business, your portfolio, your retirement accounts and more. Perhaps you finally bought the house of your dreams and filled it with carefully selected items. Now that you are divorcing, you want to make sure you reach an equitable property settlement, but getting to that point takes time and work.

Virginia is an equitable division property state, which means that you may not necessarily receive half of everything. The courts take numerous factors into account when determining who receives certain assets in a divorce. Under ordinary circumstances, the split will most likely be as even as possible, but there are no guarantees. Your spouse could attempt to hide certain assets from the court or fail to report all of his or her income, among other things. Resolving these issues will probably require more legal expertise than you possess.

Even if you do not have issues identifying all the property belonging to each of you and the marital estate, the situation can quickly become complex. You may believe a certain asset to be separate or marital property, but your spouse may see the situation differently. Now, you will need to provide evidence to support your position and so will your soon-to-be ex. Do you know what documentation best illustrates your contention? Can you show that you owned an asset prior to your marriage? You will need to address these and other questions as you prepare to support your position.

As you can see, resolving your property division issues and reaching an equitable property settlement may not be as easy as it seems at first glance. In order to protect your rights and receive everything you are entitled to, you may need some experienced assistance. For this reason, it would be a good idea to consult with a Virginia family law attorney who can help you achieve the best results possible considering the circumstances.



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