In a Virginia divorce, assets will be classified as marital or separate before they are divided. Valuation of assets, including the marital residence, investment properties, bank accounts, business interests, as well as any jewelry, furniture, artworks, vehicles, or other personal property owned by both or either spouse is required for “equitable distribution” by the court. Virginia is not a community property state: the court makes an equitable distribution of property, which is not necessarily an equal division.
Marital Property vs. Separate Property
Property acquired before the marriage or after the date of last separation, property ac…