Alexandria Property Division Lawyer

Alexandria Property Division Attorney

During marriages in Alexandria and across the United States, both spouses may accrue substantial resources that become marital property. In cases of divorce, classifying your property as marital or separate (or part marital and part separate), valuing this property, and dividing it in accordance with the law can be challenging. Fortunately, a dedicated Alexandria family law attorney from Taylor Huguley Powers PLLC can guide you through this process from start to finish.

The empathetic legal team at Taylor Huguley Powers PLLC understands the financial uncertainty that can come with separation and divorce, especially when it comes to dividing up long-shared assets. We leverage our years of experience and knowledge to develop creative legal solutions that protect our clients’ interests.

Understanding Property Division in a Virginia Divorce

In Virginia, upon divorce, property owned and debt owed by the parties is divided or distributed equitably between them. This means that marital property is divided between the spouses in a manner that is fair, but not necessarily even or equal. When determining how marital property should be divided, Virginia courts take the following factors into account:

• Contributions, monetary and nonmonetary, made by each spouse during the marriage,
• Duration of the marriage,
• Age and mental and health condition of each spouse,
• Tax consequences of the property distribution, and
• Provisions of any valid and enforceable premarital or martial agreement between the parties.

It is important to note that property classified as separate property is not subject to division in Virginia. Separate property includes money, accounts, real property, or other property received through inheritance or as a gift from a third-party (not gifts between spouses), or any such property owned before the marriage.

How We Can Safeguard Your Hard-Earned Assets During Divorce

When it comes to property division and your divorce, the decisions made during this process can significantly impact your financial future and well-being. Therefore, it’s crucial to work with an experienced attorney who can help you take the steps needed to safeguard your assets and interests. An attorney from Taylor Huguley Powers PLLC can support you with the following:

• Understanding your goals. At Taylor Huguley Powers PLLC, we work closely with our clients, not just viewing them as another case number but as individuals going through a challenging time in their lives. We take the time to develop a relationship with you and understand your specific financial situation and goals. This allows us to tailor a unique legal strategy for you.
• Drafting prenuptial or postnuptial agreements. We can draft and help you negotiate an agreement that establishes or solidifies your financial rights and responsibilities before your marriage, during your marriage, or after your separation. Utilizing or knowledge and experience, we can safeguard important financial assets, such as a multi-generational family business or hard-earned retirement account from your employment or military service prior to your marriage.
• Accurately classifying and valuing property. It’s crucial to ensure that all property is fully disclosed and that it is correctly classified as separate, marital, or hybrid during the divorce process. We can work together with our network of appraisers and financial experts to ensure that your property is accurately classified and valued, even in complex, high-value cases.

FAQs

Protect Your Property With an Experienced Alexandria Property Division Lawyer

Dividing up assets and debt in a divorce can be highly complex and emotionally charged. A compassionate and skilled divorce lawyer from Taylor Huguley Powers PLLC can support you through this difficult process and protect your interests.

Connect today to learn more about how we can help.