What assets are going to be a part of the divorce?
The Commonwealth of Virginia has instituted laws that require courts to equitably divide marital assets in a divorce. Property that is part of equitable distribution can range from large to small, and everything in between (including the kitchen sink).
Virginia classifies property into three categories: marital, separate, and hybrid. As part of the property division all assets from each category will be listed, given an approximate value and properly designated. Items such as kitchenware, tools, jewelry, electronics, cars, homes, real estate and businesses may be divided between a couple. Financial assets such as investments, retirement accounts and even debt will also play a role in the division of property.