Divorce Laws in Virginia: Financial Considerations

Divorce laws in Virginia allow for equitable distribution of assets at divorce. Equitable means fair, not necessarily equal. If a couple agrees to a particular distribution, then a judge will likely grant their wishes, but a court will try to decide what is fair if they cannot come to an agreement on their own.

Financial Considerations for Divorce in Virginia

Virginia is an equitable distribution state, which means that if the couple cannot agree to a distribution scheme, the marital property will be distributed as the judge determines is fair. The following factors will be utilized by the court to determine what is fair:

The contributions of each party to the well-being of the family during marriage.
The contributions of each party in the acquisition and care and maintenance of marital property.
The length of the marriage.
The ages, physical and mental condition of the spouses.
The nature of any particular acquisitions of marital property, including when and how the property was purchased.
The debts and liabilities of each spouse, the basis for debts and liabilities and the property which may serve as security for debts and liabilities.
The liquid or non-liquid character of marital property.
The tax consequences to each party of a distribution scheme.
The use or expenditure of marital property by either of the spouses for a separate purposes, or the dissipation of such funds, when it was done in anticipation of divorce or separation or after separation.
Such other factors as the court deems necessary or appropriate to consider to arrive at a fair and equitable monetary distribution.

You may have other financial concerns about your Virginia divorce, and the best way to resolve them is to consult an experienced family law attorney who can help you with your questions and concerns. Get legal help early to make your case easier to handle.

Getting Legal Advice

If you are dealing with a possible divorce in Virginia, it is wise to seek the help of an experienced family law attorney. An attorney can help you get through your divorce with less stress. You can share your financial concerns with an attorney in confidence. An attorney can help you figure out the probable distribution of assets in your case and your likely obligations as well as what you may receive in support depending on the facts of your case.

Thinking About Divorce?