In Virginia, marital property includes most assets and earnings acquired during the marriage, regardless of whose name is on the title. The state follows the equitable distribution model, meaning property is divided fairly, though not necessarily equally, based on each spouse’s contributions and overall financial circumstances.

Statutory Framework

• § 20-107.3, Virginia Code:

Virginia defines marital property as jointly owned property or any property acquired during the marriage that is not classified as separate.

Separate property includes:

• Assets acquired before the marriage
• Inheritances or gifts received by one spouse
• Assets protected through valid prenuptial or postnuptial agreements

The statute provides courts with broad discretion to divide marital assets in a way that is just and reasonable, considering each party’s role in acquiring and managing the property.

Source: McKeon Law Firm

Case Law

• Dietz v. Dietz (2003):

Clarified that separate property can become marital property if it is commingled and loses its separate identity (McKeon Law Firm).

• Robbins v. Robbins (2010):

Discussed the valuation and division of business interests, emphasizing the role of each spouse in the business’s growth during the marriage (McKeon Law Firm).

Evaluation Of Different Assets

• Retirement Accounts: Divided based on the period of marriage contributions.
• Real Estate: Considered marital if purchased during the marriage; division takes into account financial and non-financial contributions (McKeon Law Firm).
• Business Interests: Valued based on contributions to growth during the marriage, considering both financial investment and operational involvement (McKeon Law Firm).
• Personal Property: Distributed based on acquisition, use, and contribution, with considerations for sentimental value (McKeon Law Firm).
• Gifts: Typically remain separate unless clearly used for joint purposes, in which case they may be included in marital property (McKeon Law Firm).

Regional Overview and Legal Support

The division of marital assets in Virginia, Maryland, and Washington, D.C. is guided by each jurisdiction’s statutes and case law, with courts focusing on fairness, economic need, and the contributions of each spouse.

Navigating this process requires skilled legal insight. At Mir & Bashir LLC, we provide comprehensive support to help clients:

• Identify and classify assets
• Value complex holdings like businesses or pensions
• Advocate for a fair and equitable outcome in negotiations or court