West Virginia Divorce Attorneys Skilled At Division Of Property
At the time of divorce, one of the most contentious and life-altering actions is the division of property. Whether you are concerned about selling the family home, dividing a business or determining how your savings or retirement accounts will be divided, you are involved in a complex legal matter that requires skilled legal representation.
At Lyne Ranson Law Offices, PLLC, our attorneys are experienced in handling the most sophisticated and complex property divisions. Contact our West Virginia divorce lawyers at 304-932-0591 for questions regarding the division of property.
Handling Complex Property Division Issues
If you are facing a divorce, a lawyer experienced in complex property division can provide the knowledge and insight necessary to protect your rights and your finances in the future.
At our firm, our attorneys handle the following complex property division issues:
- Marital property
- Pensions and retirement
- Savings, checking and other financial accounts
- Homestead rights
- Real estate appraisals
- Business valuation
- Stock values
- Dissipation of assets
- Prenuptial agreements
- Identification of separate property (property excluded from division)
Common Questions About Property Division In Divorce
Dividing property during divorce involves many complex financial decisions. This can leave people with questions about the fate of their shared possessions. Below, our team at Lyne Ranson Law Offices, PLLC, answers common questions about the property division process.
Does West Virginia divide a couple’s assets equally?
In West Virginia, a couple’s property is divided equitably during divorce. This does not necessarily mean that their property is divided equally. Instead, the court works to reach a fair outcome based on each spouse’s separate property, needs and earning potential.
Will I receive less during property division because I was a stay-at-home parent?
Some people worry that their time away from the workforce will mean that they receive a smaller portion of their household assets in divorce. However, this is not necessarily true.
While spouses who stayed at home did not make significant financial contributions, they still contributed to the household. As a result, they still have a claim to a fair portion of the couple’s savings and possessions.
What will happen to my family home?
The fate of a couple’s house depends on their situation. If one spouse owned their home before the marriage, then they will generally be considered the sole owner of that house. However, if a couple purchased the house together or both made contributions to the house, then that house is marital property and both spouses have a claim to it.
If the house is marital property, then a couple may handle their home in various ways. One spouse may buy out the other’s share of the home, either paying for that share outright or accepting a smaller portion of other property in exchange for the house. The couple may sell their home and divide the earnings. They may also choose to move forward as co-owners. A couple may choose any of these options depending on their priorities.
Do my spouse and I need to have a plan for how we will divide our money and belongings?
Some couples can work together to create a plan for dividing their property. This can help them create a plan that both spouses feel is fair and can reduce conflict.
However, if spouses disagree on property division, they can still take steps to protect what matters most to them. An experienced attorney can help divorcing people create a strategy based on their financial priorities, whether the couple wants to collaborate on property division or needs to place that decision in the hands of the court.
West Virginia Equitable Distribution Of Marital Property Lawyers
West Virginia is an equitable distribution state, meaning that your marital property is generally divided equally between both parties in a divorce. In some cases, it may be appropriate to do an unequal distribution, like when one spouse has wasted marital assets.
Non-marital, or separate property, assets are not divided with your spouse. Our attorneys will help you protect those separate, non-marital assets, including gifts, inheritance or property accumulated before your marriage or after your date of separation. They can assist you in protecting inheritances, gifts or other separate property and ensure that you are compensated equally for all marital property acquired during the marriage.
Our lawyers are experienced in working with experts in property division, including forensic accountants to recover hidden or improperly withdrawn funds.
Experienced In Asset Recovery
If you believe that your spouse has absconded with a portion of your assets, our attorneys are experienced in asset recovery and can assist you in the collection of what you are owed.
Our lawyers will help you protect your family home, ensure that a proper business valuation occurs, and protect your fair share of retirement accounts and savings.
Our senior attorney, Lyne Ranson, is a former white collar crime prosecutor for the U.S. attorney’s office and is experienced in piecing together financial losses and fraud in marital asset division.