Making the decision to divorce is often highly emotional for all parties involved. It is not something that should be taken lightly, especially if there are children from the marriage. However, when all possible efforts, including marital counseling, have failed, a petition for divorce is often necessary. Along with settling child custody and alimony issues, divorcing couples must also address property and asset division.
In order to properly protect your interests it’s essential to have the services of an experienced Fairfax Criminal Defense Attorney on your side following a separation. Property asset division law differs in each state. Although the majority of jurisdictions have adopted specific regulations related to marital property distribution, what is considered as fair to one party may not always seem equal to the other. Before a final divorce can be granted each side must be in agreement regarding asset division.
An important course of action when a divorce is pending is to make a comprehensive asset list. Marital property generally include assets that have value attached such as real estate, motor vehicles, securities, bank accounts, antique collections, household furnishings, and retirement plans. Typically, anything that is considered to be jointly owned is subject to marital property division.
Fortunately, many divorce cases are settled amicably. Spouses are able to communicate through their respective attorneys during negotiations. When both sides agree on all issues, a marital property division contract is then signed and final divorce is granted. Conversely, when spouses can’t come to a mutual agreement or understanding, it often becomes necessary to bring in a mediation specialist. Their job is to impartially look at all assets and determine a satisfactory resolution for each party.
Deciding which spouse retains the marital home is frequently a major issue among divorcing couples. If there are children involved it’s not uncommon for the court to grant home ownership to the spouse with primary custody. Although the division of marital assets should ideally be even, spouses that feel they are being unjustly treated should seek out an experienced Fairfax Criminal Lawyer to represent them.