Guiding You Through The Property Division And Business Valuation Process
Over the course of a marriage, it’s inevitable for couples to accrue wealth, debt and property together that must then be divided in the event of divorce. But while it may be easy to associate a specific dollar amount with certain property, some assets, like businesses, can make property division a challenge, unless you have the right counsel to guide you through it all.
You worked hard to add to your marital assets. We make sure you get your fair share of it during contested and uncontested divorce proceedings.
Equitably Distributing Property In Divorce
In Virginia, marital property and debts are divided using the method of equitable distribution, which is designed to split marital property and debts fairly between the two spouses.
During an uncontested divorce or a mediated divorce, spouses will come to a fair agreement regarding the distribution of marital assets, which a judge then signs. In a contested divorce, however, a judge will take several things into consideration before making a final decision, including but not limited to:
- The length of the marriage
- Why the marriage ended
- If there was marital fault, including cheating
- If a spouse was abused or the victim of domestic violence
Issues Concerning Business Ownership
A well-run business can generate substantial income for a couple during the course of marriage, making it a valuable asset during divorce as well. In order to divide a business, however, spouses must go through business valuation proceedings that will account for:
- How ownership is shared
- Shares of the company or other investments
- Business real estate
- Benefit plans and retirement plans
A Firm With A Reputation For Results
If you’re nervous about any part of property division, the attorneys at Sevila Saunders Huddleston White are here to put your mind at ease. We have decades of experience handling property division issues concerning business ownership and complex property. We know how to safeguard your interests and are always looking out for your needs, from start to finish.
Talk to any of our family law attorneys: Jon D. Huddleston, Craig E. White, Benjamin Fitzgerald, Jeanine Irving, R. Penn Bain, and Heather S. Miller.
Your Confidential Consultation Awaits
At our firm, our lawyers find the balance between equitable distribution and aggressively fighting for our clients’ needs. We believe in finding realistic resolutions that our clients are happy with.