Family Law Newsletter - May 2014

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In This Issue:

- Marriage, Divorce & Your Business

- New Child Support Guidelines Under Virginia Code Section 20 108.2: What Do They Mean for You?

- Moving Out of the Marital Home - Should You Stay or Should You Go?

- Excerpt from Marriage, Divorce & Your Business:

If you own a business, or any asset for that matter, and you intend to marry or divorce, you need to read this. Virginia is not a community property state. But it is an equitable distribution state. What does that mean to you? If you acquire an asset during your marriage, unless you inherited it or got it as a gift (from someone other than your spouse), it is presumed to be martial property. It doesn’t matter if the asset is only in your name, your spouse’s name or joint names. It is still presumed to be marital if it was acquired any time between the date you got married and the date you and your spouse finally separate. And marital property is subject to being equitably divided by the court when a marriage breaks up.

Please see full newsletter below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Bean, Kinney & Korman, PC | Attorney Advertising

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