Virginia Beach Property Division Lawyer
During the property division proceedings of a divorce, the marital vs. non-marital status of property becomes of vital significance. At The Law Office of Elizabeth K. Barnes, I am skilled in valuation of property, classification of property as marital or non-marital, and division of marital property. I will help you protect non-marital property by establishing that it was acquired before the marriage or received as an inheritance.
Virginia Beach Property Division Attorney
Most property acquired during a marriage, including retirement plans and 401(k)s, stock options, marital homes and other real estate, automobiles, and even valuable collections and other personal property are considered marital property. Virginia courts approach property division with the guideline of “equitable distribution” of assets. Judges can look at a number of factors to divide the property, including a spouse’s contribution to acquiring and maintaining the property, contribution to the family’s overall well-being, and the fault of either party during the marriage.
In divorces where the nature of the property is more complex, including small businesses and certain stock portfolios, the value of the property is important. I can assist in property valuation, including business evaluations and real estate appraisals. I often consult experts in these areas to determine present and future values. These experts may be called upon to testify in your divorce hearing.
Norfolk Divorce and Debt Division Attorney — Divorce and Debt Division Attorney
In the current real estate market, many couples are dealing with significant questions surrounding the value of their property, including negative equities, short sales, debt and mortgages. An increasing number are facing upside down mortgages and significant unsecured debt. I will assist in the valuation of these properties and the determination of a fair distribution.