When a divorce occurs, questions about “who gets what?” are bound to happen in regards to the marital property acquired during the duration of the marriage. Marital property can often include cars, furniture, houses, appliances, jewelry, pensions, IRA’s, and more. Depending on the specific situation of the couple, property can be categorized as marital, non-marital, or part marital and part non-marital.
The state of Maryland and Virginia is what is called an “equitable distribution” state which was enacted by Maryland’s Marital Property Act. This means that when the two parties cannot come to a mutual agreement amongst themselves through a Marital Settlement Agreement, the circuit courts of the state will decide who will be receiving what when it comes to separation.
How Does The Court Decide What Is Fair?
In Virginia, the court will ultimately distribute the division of property based on a handful of factors which include:
- – The individual contributions of each party to the family
- – How long the couple has been married
- – How and when certain marital properties were obtained
- – The value of all the property
These are just to name a few of the factors the court considers when dividing the property.
The attorneys at Masterman Krogmann can help you through this difficult phase and can make the process of dividing property a smooth transition for you and your life. We can ensure that you get the most fair result from the court’s ruling and make sure that your ex-spouse is complying with the laws and regulations that govern this process.
If you are going through a divorce in Leesburg, VA, consider hiring one of the experienced property division attorneys in Leesburg, VA from Masterman Krogmann.