Fairfax, VA Property Division Lawyers
For many couples, reaching decisions about how to divide the house, the pretirement savings, the furniture, or the family pets are the most difficult issues. As with most things, it is most advantageous when the separating couple is able to communicate and reach amicable decisions. However, this is not always possible, and in those cases, the property division attorney Fairfax, VA at Leary Porter Law will guide you through the process of considering what must be divided and help you achieve the most advantageous outcome for you.
It is important to bear in mind that “Equitable Division” of marital property and debts does not automatically mean a 50/50 split between the parties. Rather, a Court will consider a number of factors as set forth be the Virginia Code, in order to enable the court to have criteria to determine how to make a fair division. Those factors include the following:
- The contributions, monetary and nonmonetary, of each party to the well-being of the family;
- The contributions, monetary and nonmonetary, of each party in the acquisition and care and maintenance of such marital property of the parties;
- The duration of the marriage;
- The ages and physical and mental condition of the parties;
- The circumstances and factors which contributed to the dissolution of the marriage, specifically including certain grounds of divorce;
- How and when specific items of such marital property were acquired;
- The debts and liabilities of each spouse, the basis for such debts and liabilities, and the property which may serve as security for such debts and liabilities;
- The liquid or nonliquid character of all marital property;
- The tax consequences of dividing marital property;
- The use or expenditure of marital property by either of the parties for nonmarital separate purpose or the dissipation of such funds when such was done in anticipation of divorce or separation or after the last separation of the parties; and
- Such other factors as the Court deems necessary or appropriate to consider in order to arrive at a fair and equitable monetary award.
As you consider separation and divorce, the property division attorneys at Leary Porter Law recommend that you begin collecting as much information as possible regarding all the assets accrued and debts incurred during the course of the marriage. We invite you to contact Leary Porter Law for a consultation. We will help you understand your rights and aggressively represent you in negotiations and litigation to secure the most advantageous outcome for you.