After issues involving children, the most complex part of most divorces is property division. In Virginia, that process is known as Equitable Distribution. Each party wants to maximize his or her share of the marital assets. To protect your rights and make sure you are treated fairly, choose a trusted and proven legal team.
At Maddox & Gerock, we thoroughly understand Virginia's property division laws, and we use that knowledge to help our clients receive the portion of the estate that they truly deserve. We work with individuals from all walks of life, people with modest assets and people going through a high-asset divorce. No matter what, when you come to us, you will be treated with respect and we will give you an honest assessment of your case.
Strong Advocacy for Every Client
Equitable Distribution is often contentious not only because the parties want to retain the majority of the assets, but also because they do not want to be responsible for taking on debts. Our attorneys understand these concerns and provide detail-oriented, thorough counsel regarding all types of property, including:
- Retirement accounts such as pensions, 401(k)s and government retirement benefits
- Stock options and investments
- The family home and vacation or investment properties
- Rental property
- Business property
- Hidden assets
- Personal property, like cars and furniture
With decades of experience in this area, the attorneys at Maddox & Gerock can often negotiate property settlements out of court, without going through litigation. If your case cannot be resolved through negotiation, you can be confident in our ability to protect your interests at trial.
The Division of Marital Debt
While any assets acquired over the course of a marriage are subject to division, liability for debts held on joint lines of credit must also be determined. If you and your spouse are jointly named on credit card accounts, car loans, utilities or other lines of credit, you can be held responsible for any unpaid debt.
Even if you never used a credit card, if your ex-spouse defaults, the credit card company can initiate collection actions against you. Since the contract between you and a creditor is not impacted by your divorce agreement, you can still be held responsible if he or she falls behind on payments.
Contact Our Virginia Law Firm
To find out more about the division of marital property and debt in Virginia, contact Maddox & Gerock today. Call our Falls Church office at 703-883-8035 or send us an email.