Dividing Marital Property In Divorce
At the end of a marriage, there are many issues to be resolved. Few are as daunting as dividing marital property between you and your spouse. Your final property settlement can set the stage for your financial life after divorce, so it is important to take steps to ensure a fair distribution of your assets.
At Lutins & Pilgreen, PC, we help divorcing clients identify, value and divide the full spectrum of marital assets:
- Bank accounts
- Retirement assets such as savings plans and pensions
- The marital home
- Jewelry, heirlooms and other valuables
With more than 20 years of experience handling complex family law matters, attorney J. Emmette Pilgreen also provides sophisticated counsel and attentive representation to business owners and shareholders.
Equitable Distribution In Virginia
In Virginia, property division is guided by the principle of equitable distribution. That means that marital assets should be divided equitably, or fairly, though not always equally. Factors such as each spouse’s earning capacity, fault and contributions to the marriage (both financial and nonmonetary) may affect what assets are awarded to each spouse.
Who gets the house? If there are children involved, the parent who provides their primary care typically remains in the marital home. If there are no children and one spouse owns the house separately, he or she may ask the other to leave. If the spouses own the home jointly and there are no children, contact a lawyer to discuss your options.
Schedule A Consultation And Learn How To Protect Your Assets
With discretion left to the court and substantial room to negotiate between parties, it is vital that you protect your interests. Working with a knowledgeable family law attorney can help you maximize your share of marital assets and ensure that you are treated fairly in all negotiations and litigation.
If you have been served with divorce or you are considering filing, it is wise to speak with a lawyer as soon as possible. At Lutins & Pilgreen, PC, we can help you understand the process and take steps to secure your property. Please call 540-627-5150 or send us an email to arrange an appointment at our Roanoke office.