Money complicates things. This maxim applies most perfectly in the context of divorce.
When a couple has substantial assets, diversified property interests, or has received large inheritance gifts, divorce proceedings are complicated exponentially.
Our family law lawyers have experience with all of the complexities involved with property division in high asset divorce cases.
We have a team of forensic accountants and experts we work with regularly who are experienced working with the unique issues involved with high-asset divorce cases:
- Business valuations
- Asset tracing
- Multiple properties
- International properties
- Valuation of business interests
Co-Mingled Marital Funds
Virginia, unlike most states, takes a different approach when distinguishing between marital property, separate property (which generally means property acquired before the marriage), and property that is gifted/inherited by one of the spouses.
Most of these issues can be settled outside of court through mediation or other forms of negotiation. Divorces get complicated when dealing with hybrid property. One of the spouses inherits a large sum of money during the course of the marriage, then co-mingles that money with the rest of the bank accounts that are shared with the other spouse. Then both parties are spending and depositing funds, creating countless transactions. It becomes very difficult to decide how to trace and then divvy up that money, and this usually becomes a triable issue.