Property Settlements Lawyer in Virginia
If you need assistance with property division in your divorce, it is time to consult a property settlements lawyer in Virginia. Your property is important to you and a skilled lawyer can help protect your rights. Here are some common myths about property settlement that you should know about.
Marital Property is Split 50/50
If you and your spouse obtained property together in your marriage, it might make sense to split it up evenly in a divorce. However, it does not work that way. Assets are divided equitably rather than evenly. The judge will look at several factors before deciding how to divide up property, such as the financial resources of each partner and the number of children involved.
You Must Wait Until After the Divorce to Divide Property
This is another big myth about property settlement. It is actually not necessary to wait until after your divorce is finalized to divide up assets. You can start proceedings as soon as you and your spouse get separated.
Businesses Are not Considered Marital Property
Businesses absolutely count as marital property and can be divided during a divorce. If you and your spouse started a business together while you were married, it will be divided somehow. The judge will consider several factors before deciding how to divide the business between the two of you, such as how involved each partner was in running the business and the value each spouse brings to the business.
You Have to Go to Court
Many divorcing couples believe the only way to get a fair property settlement is to go to court. This is not true. Going to trial is typically a last resort. A skilled property settlements lawyer in Virginia will work hard to help you obtain a fair settlement without going to trial.
The Spouse Who Earned the Most Money Can Keep the Property
When it comes to dividing marital property, it does not matter who earned the highest salary during the marriage. A spouse is not entitled to a certain piece of property simply because he or she paid for it. A judge will consider many other factors, like the future earning potential of each spouse and duration of the marriage.
If you have additional questions about property division, you should schedule a consultation with a property settlements lawyer in Virginia today. Call May Law LLP, today.