Virginia Beach Property Division Lawyers

Going through a divorce is already a painful and complex process, but the uncertainty surrounding asset division adds another layer of stress. The wealth you’ve accumulated through your hard work, the dream home you built while envisioning a peaceful life with your spouse—these cherished elements become sources of anxiety as you struggle with questions about what will remain yours and what may be lost.

The thought of losing what you’ve spent years creating or watching it slip away into the unknown can feel like a betrayal of everything you’ve worked for. It’s not just about dividing assets—it’s about the fear of losing control over your future and the life you imagined for yourself.

The family law attorneys at Randall & Bruch, understand your plight. Our team of experienced Virginia Beach, VA property division lawyers is here to guide you through the complexities of asset division with care and dexterity. Following Virginia’s equitable distribution laws, we will work diligently to identify, assess, and facilitate the fair division of all marital property. With us by your side, you can focus on moving forward while we fight to protect your rights and secure your financial future.

Why Clients Choose Randall & Bruch, PC

The attorneys at Randall & Bruch have 85 years of combined experience providing clients with exceptional legal representation. With over 20,000 clients served and supported across six offices, we are here to advocate for you. Our Virginia Beach property division lawyers are happy to answer your questions and guide you through every part of the divorce process.

Divorce is never easy, but with our legal advice and experience, you know what to expect from your divorce case and how to prepare for any disputes.

Testimonials

“I would highly recommend this law firm to anyone in need of legal services. From calling to inquire and set up an appointment, to meeting with the staff to assist me — it was all a very smooth process. They are true professionals that understand their clients, and extremely knowledgeable. They make sure you receive the best service, and I am truly grateful for everyone at this law firm that assisted helping me get the best outcome.” – Anna R.

“Randall & Bruch are quick and responsive to your needs. They provide you with the tools you need and they take care of the rest. I highly recommend them.” – Annette B.

“Tammy and everyone at Randall & Bruch, P.C. were so amazing. When I was going through a terrible moment in my life they helped me out beyond belief and made me be able to breathe easy knowing they were on my side! I hope to never need a lawyer again but if I do I know who I would contact first!” – Charlie A.

How Are Assets Divided in a Virginia Beach Divorce?

Asset division is the legal process of classifying, valuing, and dividing marital assets under Virginia law. The division of assets follows a specific process, but do not assume anyone is looking out for you. Instead, hire a divorce lawyer committed to supporting you throughout the case to protect your rights and interests.

Virginia is an equitable distribution state, which means that property is divided into two categories: marital property and separate property.

What is the Equitable Division of Marital Property?

The equitable division of property is not the same as equal property division. Equitable marital property division means debts and assets are allocated based on when they were acquired and then fairly divided between the married parties.

Unlike community property states, in which all marital property is divided equally, dollar-for-dollar, between the two people, the equitable distribution in Virginia Beach, AV focuses on each person’s individual circumstances. For example, a stay-at-home spouse raising a family may receive a larger share of the marital assets to compensate for their lack of income-earning opportunities post-divorce.

What is Marital Property, and How is It Divided in a Virginia Beach Divorce?

Martial property in a Virginia Beach divorce refers to the assets and debts acquired by either or both spouses during the marriage. It does not matter if just one spouse’s name is on that asset. It may include:

• Real estate
• Vehicles
• Bank accounts
• Retirement accounts
• Financial and physical assets of other types

In divorce, your marital property faces equitable division, aligning with the fair distribution of assets to support each spouse in the future. Some of the factors the court will use to make decisions about property settlement include:

• The length of the marriage
• Contributions to the marriage, including both financial and non-financial
• Economic circumstances for each person
• Any agreement, including either prenuptial or postnuptial agreements entered into lawfully
• Misconduct by either spouse, such as financial waste

In the ideal scenario, both spouses agree on asset division. If that is not possible, the court will then:

• Classify all property as either marital or separate
• Complete a valuation on that property
• Distribute the assets based on evidence and fairness

What Does Virginia Beach, VA Consider Separate Property?

Separate property means that just one person owns that property. Separate property typically includes any assets of value acquired prior to the marriage by just one spouse. It may include:

• Real estate
• Personal belongings
• Financial assets

It may be possible for one spouse to acquire separate property during the marriage. This often occurs when one person receives an inheritance or a gift from a family member or friend. However, if one spouse receives a gift or inheritance to purchase a jointly owned home or deposits those funds into a joint account, the separate asset is considered commingled. This means it can be challenging to preserve those assets as separate property. Thus, it is crucial to establish proper designations before heading into a divorce proceeding since the court can only divide marital assets.

Military Divorce and Asset Division in Virginia Beach, VA

A military divorce is a bit different from a civilian divorce. Virginia follows an equitable distribution law process for military divorces. However, military benefits may be handled differently.

Military law dictates that these divorces must follow the 10/10/10 rule. This rule indicates that a couple must have been married for at least 10 years, the military member must have served for 10 years, and at least 10 years of service must overlap with the marriage. If and when the 10/10/10 rule is met, the non-military spouse will receive direct payments from the Defense Finance and Accounting Services (DFAS). If the divorcing military couple does not meet these requirements, the court must divide marital benefits in a negotiation.

The key to remember here is that if you are going through a military divorce, do not sign or agree to anything in a separation agreement, spousal support promise, or other written statement about your willingness to give the other party any assets until you speak to an attorney.

Even if the agreement states it is modifiable, spousal agreements are complex documents that often limit your ability to protect your assets. Modifying any spousal agreement, including alimony, can be challenging. That is why speaking to us in our Virginia Beach office is so important before you sign anything.

How Can a Property Division Lawyer Assist in a Virginia Divorce?

Property division during a Virginia Beach divorce is not simplistic. Having an attorney available to you to provide guidance throughout the process can be critical in protecting your rights. When you establish an attorney-client relationship, you gain guidance in several ways:

• Your attorney understands Virginia’s equitable distribution laws. We will help you identify all assets and classify them properly under the law.
• If possible, we negotiate on your behalf to create an amicable agreement on property division. If negotiations fail, we represent you in Virginia courts.
• Expect us to provide strategic advice and complete legal representation for you throughout the process. This includes developing tailored strategies based on your needs, including specific concerns and financial goals.

Our objective is to draft a property settlement agreement that favors your ideal outcome. We then work to implement that agreement.

Let Us Demystify Your Property Division Journey

When making the decision to divorce, you need an attorney who can guide you. Set up a meeting in our law offices to discuss your case. We provide full-service guidance, including in relation to child support, child custody, and all types of divorce decisions. Contact Randall & Bruch, PC, today at 757-742-6115 or fill out our online form now.