Property Division Lawyer in Winchester

Helping Clients Protect Their Assets in Virginia

With over 75 years of combined legal experience, Buchbauer & McGuire, P.C., can help you obtain your rightful property during a divorce. Our Winchester property division attorneys will help you negotiate with the other party for your best interests.

If an agreement cannot be reached, we will aggressively litigate your position in the courtroom.

Don’t wait! Call our office at (540) 508-8995 or contact us online to schedule your initial consultation today. We are based in Winchester, but serve residents of Shenandoah Valley and the surrounding areas.

Common Types of Assets Involved in a Divorce

In a divorce, property division can include various financial and physical assets. Common types include:

• Real Property (Real Estate): Real estate assets typically include the marital home, vacation properties, and rental investments. These properties may be sold, divided, or awarded to one spouse depending on state laws and financial circumstances. The value of real estate is often appraised to ensure an equitable distribution.
• Financial Assets: Financial assets such as bank accounts, retirement funds, and investment portfolios are subject to division based on contributions and legal agreements. Some assets, like 401(k) accounts or pensions, may require a Qualified Domestic Relations Order (QDRO) for proper division. Stocks and mutual funds may be liquidated or split between spouses, depending on the settlement terms.
• Personal Property: Personal belongings, including vehicles, jewelry, and household items, can be divided based on ownership history and sentimental value. Items of significant worth, such as antiques or collectibles, may require appraisals before distribution. While some personal property is split amicably, disputes may arise over high-value or emotionally significant possessions.
• Debts and Liabilities: Debt acquired during the marriage, such as mortgages, credit card balances, and personal loans, is typically divided between spouses. Some debts may remain with the person who incurred them, while others are split based on financial circumstances. Courts often determine responsibility based on who benefited from the debt and the ability to repay.
• Business and Professional Assets: Business ownership, partnerships, and professional practices can be complex to divide, especially when one spouse contributed financially or operationally. Courts may evaluate business valuations and determine whether a buyout or revenue-sharing arrangement is appropriate. Intellectual property, such as patents or royalties, may also be subject to division if created during the marriage.
• Insurance and Benefits: Life insurance policies with cash value, health insurance, and pension benefits are often considered in divorce settlements. Some employer-sponsored benefits, like military or government pensions, may have specific rules for division. Spouses may need to negotiate continued coverage or adjustments to existing policies.
• Other Assets: Inheritances, lawsuit settlements, and digital assets such as cryptocurrency can be subject to division depending on how they were handled during the marriage. If an inheritance was kept separate, it may remain with the receiving spouse, but if commingled, it could be divided. Digital assets, including online businesses or NFTs, are becoming more relevant in modern divorces.

Marital vs. Separate Property in Virginia

In a divorce, all property owned by the parties must be valued, classified and distributed. Virginia law classifies property as separate, marital or part separate and part marital (also called “hybrid” property). Separate property owned by a spouse is not subject to division in a divorce proceeding, and instead remains owned by the spouse who acquired it.

Generally, separate property is property acquired prior to the marriage, inherited during the marriage, or acquired after the last separation date if acquired from a separate financial source. The passive increase in value of a separate asset is also separate property.

Marital property is all property that is not separate. Part separate and part marital property is self-explanatory, with perhaps the most common example being retirement, a portion of which was earned prior to marriage, or subsequent to the last separation, and a portion of which was earned during the marriage.

In Virginia, property division during a divorce follows equitable distribution laws. This means all marital and part marital property is divided in a fair, but not necessarily equal, manner in a divorce.

To determine what an equitable division of property is, the Court considers various factors, including:

• The contributions, monetary and non-monetary, of each party to the well-being of the family
• The contributions, monetary and non-monetary, of each party in the acquisition, care, and maintenance of the marital property
• The duration of the marriage
• The ages, physical, and mental condition of the parties
• How and when specific items of marital property were acquired
• The debts and liabilities of each spouse, the basis for such debts and liabilities, and the property which may serve as security for such debts and liabilities
• The liquid or non-liquid character of all marital property
• The tax consequences to each party
• The circumstances and factors which contributed to the dissolution of the marriage, and related considerations
• Inappropriate use or dissipation of martial property in anticipation of separation or divorce or after the last separation of the parties
• Such other factors as the court deems necessary to consider arriving at a fair and equitable monetary award

Contact Our Property Division Attorney in Winchester Today

We understand that property division issues can be highly contentious and complex. For this reason, our Winchester property division attorneys offer aggressive legal representation to our clients going through a divorce.

We will work tirelessly to ensure your legitimate goals and interests are thoroughly represented and fought for in and out of the courtroom.

To speak with one of our Winchester property division lawyers, call the office directly at (540) 508-8995 or complete our online contact form.