Property Division

 

 

PROPERTY DIVISION (EQUITABLE DISTRIBUTION)

Determined and Caring Property Division Lawyer

 

One of the major issues during divorce is division of property.  All property acquired during the marriage, except property received by one of the parties as a gift and/or inheritance, is considered marital property and subject to division. 

There are three steps in division of property in Virginia: 

 

1.  Classification.  The judge has to decide which property is marital and which is separate, or which is both.  Separate property is all property acquired prior to the marriage, after the last separation of the parties, and by inheritance or gift.  All the rest of the property of the parties will be classified marital or mixed (part marital and part separate).

 

2.  Valuation.  Next the judge will decide the value of the marital property.  Value will be given to all marital assets and debts.  Among the property subject to valuation may be your house or other real property;  your cars; checking and savings accounts; retirement accounts such as pensions, 401K’s, IRA’s, business; securities, stocks and bonds, or military benefits.  The debts of the parties such as outstanding mortgage, credit cards bills, outstanding car loans, and other debts, will also be valuated.

 

3.  Distribution.  The judge will proceed to divide all marital assets.  In Virginia the property division does not have to be split equally.  The judge will generally consider a number of factors to reach a fair  and equitable distribution of marital property.

 

Mr. Kavrukov is well versed in all three stages of property division. He vigorously investigates the value of the marital property held by both spouses, will thoroughly evaluate your marital property and uncover any shared assets your spouse may be attempting to hide.  He has handled many high-asset divorce cases involving a very complicated process, working closely with business valuators, accountants, financial planners and other experts.  But whether your divorce case has a few assets or is complex and time consuming, rest assure that Mr. Kavrukov will provide you with competent, caring, and zealous representation.  He will show you how his experience makes a difference dealing with dividing marital assets.

 

 
 

 

 

 

 

 
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