Business Asset Division Lawyer New Kent County — Protecting Your Enterprise
Dividing a business in a New Kent County divorce is governed by Virginia’s equitable distribution statute, Va. Code § 20-107.3. As a Business Asset Division Lawyer New Kent County, Law Offices Of SRIS, P.C. provides focused representation to protect your enterprise’s value. Our firm has documented results in the local Circuit Court. We offer 24/7 consultations to discuss your case.
Last verified: April 2026 | New Kent County Circuit Court | Virginia General Assembly
In Virginia, a business acquired or enhanced during a marriage is considered marital property subject to division. The court does not automatically split it 50/50. Instead, a judge applies the 11 factors in Va. Code § 20-107.3 to determine a fair, or equitable, distribution. This process often requires business valuation, forensic accounting, and strategic negotiation to reach a settlement or present a case at trial.
Virginia Law on Business Asset Division
Virginia is an equitable distribution state. The primary statute governing the division of business assets in divorce is Va. Code § 20-107.3. This law requires the court to classify property as marital or separate and then value and distribute marital property. A business interest, whether a sole proprietorship, partnership, or corporation, is marital property to the extent it was acquired, earned, or increased in value during the marriage. The court can award the business to one spouse, order a buyout, or even order the sale of the business and division of proceeds.
- Gather Financial Records: Compile business tax returns, profit/loss statements, balance sheets, and ownership agreements for the past 3-5 years.
- Secure a Business Valuation: Hire a qualified forensic accountant or business appraiser to determine the fair market value of your marital interest in the business.
- Explore Settlement Options: With your attorney, negotiate options like a buyout using other assets, a structured payment plan, or continued co-ownership.
- Prepare for Trial: If settlement fails, prepare to present your valuation evidence and arguments for distribution to the New Kent County Circuit Court judge.
Potential Outcomes and Strategic Considerations
In New Kent County, dividing a business asset in divorce can result in the business being awarded to one spouse with an offsetting award of other assets, a court-ordered buyout, or a sale.
The goal is to reach a resolution that is fair and allows the business to continue operating if possible. An experienced Business Asset Division Lawyer New Kent County can help you handle this complex financial dissection.
Firm Experience in Complex Asset Division
Law Offices Of SRIS, P.C. was founded in 1997 by former prosecutor Mr. Sris, who personally amended the equitable distribution statute, Va. Code § 20-107.3. This deep legislative insight is applied directly to cases involving business valuation and division. The firm’s combined attorney experience exceeds 120 years, with a track record of documented favorable outcomes in complex financial divorces. Mr. Sris, the firm’s founder and a former prosecutor with a background in accounting, provides strategic oversight on intricate business division matters.
Results may vary. Prior results do not guarantee a similar outcome.
Contact Our New Kent County Business Division Lawyers
Our Richmond location serves clients in New Kent County, Providence Forge, and Quinton. We are accessible via I-64 and Route 33. If you need a business asset division lawyer near me New Kent County, we are here to help.
Law Offices Of SRIS, P.C.
Richmond Location — 7400 Beaufont Springs Dr, Suite 300, Rm 395, Richmond, VA 23225
Toll-Free: (888) 437-7747 | Local: (804)201-9009
By appointment only. 24/7 phone consultations.
Business Asset Division in New Kent County: FAQs
How is a business valued in a Virginia divorce?
It depends. Common methods include asset-based, market-based, and income-based approaches. A forensic accountant typically analyzes financial statements, cash flow, and market comparables to determine fair market value, especially for privately-held companies.
Can my spouse get part of my business if they didn’t work in it?
Yes. If the business is marital property, its value is subject to division regardless of which spouse managed it. The non-owner spouse’s contributions as a homemaker or to the family unit are considered under Va. Code § 20-107.3.
What if my business was started before the marriage?
It depends. The pre-marriage value is your separate property. However, any increase in value during the marriage may be considered marital property subject to division, depending on the cause of the appreciation (e.g., marital effort vs. market forces).
Can I keep my business in the divorce?
Yes, it is possible. The most common outcome is for the business-owner spouse to retain the business by offsetting its value with other marital assets, such as retirement accounts, home equity, or a cash buyout paid over time.
Do I need a forensic accountant?
For any business of significant value, yes. A forensic accountant provides a defensible valuation and can trace separate vs. marital contributions, which is critical for an accurate and fair division under Virginia law.
For guidance on business division, contact an affordable business asset division lawyer New Kent County at our firm. We also assist with related matters like criminal defense in New Kent County and DUI defense. Learn more about Virginia family law or see our work in Henrico County.
Last verified: April 2026. Laws change — contact Law Offices Of SRIS, P.C. at (888) 437-7747 for current guidance.