Charleston Equitable Distribution Attorney
Is West Virginia an Equitable Distribution State?
When you get a divorce, the property owned by you and your former spouse will be divided up by the court, unless the two of you have reached an agreement. This process is called equitable distribution. However, the term “equitable distribution” does not necessarily refer to an equal division of property between you and your ex-spouse.
- Separate Property – All property owned by either spouse before the marriage. It also includes property acquired during the marriage by inheritance or third-party gifts.
- Marital Property – Property owned by either spouse that was acquired during the marriage. This includes all vested pension and retirement benefits acquired during the marriage.
- Divisible Property – Real and personal property that includes the appreciation and diminution in the value of marital property and other divisible property acquired as a result of the actions of the spouses during the marriage, but before separation. This includes passive income from marital property received after the separation, as well as increases in marital debt, including finance charges and interest for marital debt.
Other types of property include:
- Income, property, and debts of a party
- Child support or alimony support obligations from previous marriages
- The length of the marriage
- The age and health of each spouse
- The efforts made by each spouse to acquire property
- Contributions made by one spouse to the other
- Actions taken by either spouse to preserve or waste their marital assets
Make sure you have a knowledgeable advocate in equitable distribution during a divorce. Contact (304) 345-7250 today.
Speak With Our Lawyer Today. Call (304) 345-7250.
For these reasons and many more, it is recommended that you consult with one of our experienced divorce lawyers in Charleston, WV to get help with the process of equitable distribution. If you are going through a divorce, you should consult with our legal team as soon as possible. You don’t have to handle this alone— our Charleston property division lawyers are we are here to assist you with all your legal needs.
At Hardy Pence PLLC our legal team has dealt with the complex property division issues that require knowledge, experience, and creative solutions, including:
- Family Residence
- Real Estate Holdings, Investment Properties, & Rental Units
- Business Ventures
- Stock Options & Pensions
- Collectible Items & Antiques
- Insurance Policies & Insurance Proceeds
- Inheritances & Gifts
- Personal Property