Protecting Your Interests
When you are involved in divorce proceedings, one of the most important issues can be the distribution of marital assets and debts. You may have problems determining the fair market value of all your assets. It is also important to understand what property was part of the marital estate and what property was held separately.
At Lieblich & Grimes, P.C., we bring decades of legal experience to representing men and women in Northern Virginia in complex divorce or family law disputes. We take the time to listen to your concerns, identify potential issues and find creative, practical solutions to your problems.
Property Division and Divorce in Virginia
In Virginia, only property acquired during the marriage is subject to division in divorce. Any property you owned prior to the marriage, property you receive from a third party during your marriage or property you acquired after your separation, is considered separate property. However, while this may seem simple, it can be difficult to determine equitable property division when separate property has been commingled with marital property during the marriage.
Our attorneys will help you work out a property agreement that fairly distributes all property of your marriage, including:
- Real property (houses, vacation homes, etc.)
- Personal property
- Bank accounts, investments and other financial accounts
- Insurance benefits
- Retirement funds
- Business interests
While many cases can be resolved through amicable settlement agreements or collaborative law, those who cannot come to an agreement must submit their dispute to a court for decision through a process called equitable distribution. We have an in-depth understanding of the calculations, legal nuances and recent developments in the law which inform a court's equitable distribution of property. As your advocates, we will represent your interests throughout this complicated process.
Dividing "Upside Down" Homes
In the current economy, many couples face economic crises of varying degrees, including owning a house with an "upside down" mortgage, or a mortgage with a balance greater than the estimated fair market value of the house. We work with you to come up with creative solutions to these and other property division issues. Some options may include keeping the house for a period of time after your divorce or negotiating some form of debt relief such as considering a short sale.
Contact Our Office
To protect your interests in property division, talk with an experienced Northern Virginia marital property division lawyer. Contact our office online or call us at 703-683-6300 in Alexandria or 703-858-9470 in Leesburg to schedule a consultation.