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Understanding the differences between marital property and separate property is the first step. Next, it would be in your best interest to consult with an experienced Virginia divorce attorney. It is important that the Virginia divorce lawyer you choose has handled cases similar to yours and that they understand division of property in divorce.
Retaining the services of an experienced Virginia divorce lawyer is important as you will need someone expert in the court system to help negotiate your claims. Remember that the court has the final word in all division of property. There are many factors considered, and although Virginia is not an equitable distribution state, there is an equally strong bias in the favor of equitable distribution as there is one against it. What is Equitable Distribution? Equitable distribution applies to marital property. It is known as "equitable distribution" because it requires courts to divide property equally and fairly between spouses.
The property subject to division can include physical property, profits, pensions, and debts. Of this property, that which is most likely to be divided unequally is debt. The majority of the debt will likely go to the spouse with the larger income.
In a majority of Virginia divorces, however, the two parties are able to come to an accord about their shared property and draft a marital separation agreement. Division of Property and Marital Separation Agreements
Separation agreements, also known as property settlement agreements, are contracts signed by both yourself and your husband that specify precisely how your property will be divided. These agreements can also deal with child custody and support.
To draft a separation agreement you may simply sit down and talk with your husband. If you can come to a calm agreement as to how everything will be divided, get it in writing. Marital separation agreements are legally binding, so before you sign you must be sure to have an experienced Virginia divorce lawyer look over your agreement.
To order your free book-www.freedivorcebook.com information on seminars-www.monthlydivorceseminars.com info on collaborative divorce-www.virginiacollaborativelaw.com information-estate planning for young families-www.generationslawfirm.com information-family law and estate planning for the LGBT community-www.FamilyEqualityLawCenter.com
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