Our Lawyers Understand West Virginia’s Property Distribution Laws
Calculating division of property can be challenging for couples. If you and your spouse have lived together for several years, you may own real estate, vehicles, and other assets. Many factors determine how this gets divided between spouses. If you are struggling with calculating division of property, consult the lawyers at Bailey Legal Services in West Virginia.
We will discuss calculating division of property by equitable distribution, along with the factors that determine division of property. In addition, our lawyers will also explain how to determine marital property and separate property. Divorce is a tough time for everyone, and our lawyers make the process easier for both parties. Clients in the state of West Virginia come to Bailey Legal Services for assistance in calculating division of property.
West Virginia Divides Property Via Equitable Distribution
Spouses can agree on property division through a settlement. However, courts can also decide the division of property through the judicial process of divorce. In West Virginia, courts divide marital assets via equitable distribution. In simple terms, the court will attempt to divide property in a fair and equitable manner. Multiple factors, which we will discuss later, go into determining equitable division of property. State laws such as community property laws and marital contributions affect the process of dividing property via equitable distribution.
Learn About the Factors That Determine Property Division in Virginia
In West Virginia, courts consider a list of factors set by a statute to determine a fair property division. If divorcing spouses can agree on a fair and reasonable property distribution, courts will generally accept it. However, if the individuals cannot agree, the court will divide property based on the following factors:
The judge may use the fault of one spouse to justify a higher property percentage award to the injured spouse.
Spouses who carelessly spent marital assets may receive a lower percentage of marital property.
If a spouse contributed to their partner’s education or earning capacity, they may receive a percentage of the marital property.
If one spouse has full child custody following the divorce, they may receive a higher percentage of marital property.
Courts Can Only Divide Marital Property in a Divorce
Property division depends on which property belongs to the marriage and to each spouse. Courts consider anything that a couple acquires during their marriage as marital property. Judges will consider something that belonged only to one spouse before the marriage as separate property. It’s essential to understand which property is which. Doing so can make the property division process go much smoother.
It also can include some property given to one spouse during the marriage. Some common types of property divided during a divorce are the family home, jewelry, income, dividends, and benefits. Once the marriage ends, the couple must divide marital property. Separate property must remain in possession of the spouse who originally owned it.
If you and your spouse are struggling to determine marital property and separate property, call our lawyers. Seeking the help of a counselor can also help if it escalates into a problem.
Remember One More Thing While Dividing Property After Divorce
In West Virginia, courts don’t take a party’s misconduct into account when dividing property. One spouse’s extramarital affair is initially grounds for divorce anyway. However, it does not determine their right to equitable distribution of property. The courts only consider each party’s economic contributions when dividing assets.
Because of this, you need to speak to an experienced lawyer. You need a lawyer who understands the law and your community. Speak to lawyers that will keep your best interest at heart. If you are struggling with calculating division of property after divorce, give our lawyers a call.
Call Bailey Legal Services for Help in Calculating Division of Property
Are you struggling with calculating division of property? If so, call Bailey Legal Services today. Our lawyers have extensive experience in helping clients divide their property fairly and equally after a divorce. Each case presents its own unique challenges, and Bailey Legal Services will create a personalized plan for you. Our clients mean a lot to us, and we strive to serve them in the best way possible.
West Virginia residents come to Bailey Legal Services for all their legal needs. Our client’s best interest is always our top priority. We have developed a strong reputation throughout the Mountain State as the area’s trusted lawyers. Divorce is a difficult time for all parties involved. With the help of our attorneys, we can help the process go much smoother. To learn more about our divorce services, contact us.
Learn more about calculating division of property by calling Bailey Legal Services at (304)-736-0801. Clients in West Virginia can also contact us online to see our complete list of services or email us. Our lawyers will go above and beyond the call of duty for you. We genuinely care about our clients and will fight for their rights to get what they deserve. You can state up-to-date by liking our Facebook page for the latest advice on calculating division of property.