Charleston Equitable Distribution Lawyers
In West Virginia, there is a rebuttable presumption that marital assets are to be equally divided between both parties. Thus, the first step is to determine what is the marital property. Some property may be construed as your separate property, and will not be subject to division in a divorce proceeding. Contact our office to find out more about what is construed as separate property.
The second step is to determine the value of the marital property and debt. The Court takes a snapshot of the divorcing parties’ financial situation on the date of separation. For instance on May 12, 2011, the joint checking account had a certain value. On May 12, 2011, the marital home had a certain value, and the debt against that home had a certain value. Some of the most important assets usually include the marital home and retirement accounts.