Virginia Beach Business Asset Division Lawyer — How Is Your Company Valued?
Dividing a business in a Virginia Beach divorce is governed by Va. Code § 20-107.3, the equitable distribution statute personally amended by Mr. Sris. A business asset division lawyer Virginia Beach from Law Offices Of SRIS, P.C. can protect your company’s value. The firm has 8 documented case results in Virginia Beach. Complex valuation requires a forensic accountant.
Last verified: April 2026 | Virginia Beach Circuit Court | Virginia General Assembly
Virginia Law on Business Asset Division
Virginia is an equitable distribution state, meaning marital property, including business interests, is divided fairly but not necessarily equally. The court follows Va. Code § 20-107.3, which provides 11 factors for division. A business started or grown during the marriage is typically marital property. The court must classify, value, and equitably distribute the business interest. This often requires experienced valuation. Founded in 1997, Law Offices Of SRIS, P.C. uses its experience to handle these complex financial cases.
Official Legal Resources
For the full text of the law, review Va. Code § 20-107.3 (official Virginia General Assembly). Virginia Beach family law cases are filed at the Virginia Beach Circuit Court.
Local Process for Dividing a Business in Virginia Beach
In Virginia Beach, business division is part of the divorce process in Circuit Court. The court often appoints a neutral forensic accountant or business valuator. The valuation date is critical, typically the date of separation or final hearing. The non-owner spouse may be entitled to a share of the business’s appreciation during the marriage.
- File a Complaint for Divorce in Virginia Beach Circuit Court, including a request for equitable distribution.
- Complete mandatory financial disclosures, listing all business interests and related documents.
- Retain a forensic accountant or business appraiser to determine the fair market value of the business.
- Attempt to negotiate a property settlement agreement that addresses the business division.
- If no agreement, present evidence of valuation and equitable distribution factors at a trial.
- The judge will issue a final order classifying, valuing, and distributing the marital estate, including the business.
Potential Outcomes in a Business Division Case
In Virginia Beach, dividing a business asset can result in a buyout, continued co-ownership, or an offset with other marital property.
| Scenario | Classification | Valuation Method | Potential Division | Tax Impact |
|---|---|---|---|---|
| Sole Proprietorship Started During Marriage | Marital Property | Fair Market Value | Buyout payment to non-owner spouse | Capital gains on sale of assets |
| LLC/Partnership Interest Acquired Pre-Marriage | Separate Property (but marital share of appreciation) | Active vs. Passive Appreciation Analysis | Share of marital appreciation paid to non-owner spouse | Complex basis allocation |
| Professional Practice (Medical, Legal) | Marital Property (goodwill) | Excess Earnings Method | Percentage of practice value awarded | Ordinary income on payouts |
Results may vary. Prior results do not guarantee a similar outcome.
Why Choose Our Firm for Your Business Division Case
Law Offices Of SRIS, P.C. was founded in 1997 by former prosecutor Mr. Sris, who personally amended the very equitable distribution statute (Va. Code § 20-107.3) that governs business division. This deep, insider understanding of the law’s intent and application is a distinct advantage. With over 120 years of combined attorney experience and a firm-wide record of 4,739+ case results, our team is equipped to handle the financial intricacies of valuing and dividing businesses, from sole proprietorships to professional practices.
Case Results and Client Focus
Law Offices Of SRIS, P.C. has 8 documented case results in Virginia Beach across all practice areas. For instance, our team has successfully negotiated property settlement agreements that protect business ownership while ensuring a fair equitable distribution to the other spouse. Results may vary. Prior results do not guarantee a similar outcome. Mr. Sris, the firm’s founder and a secondary attorney on complex financial cases, brings his background in accounting and information systems to bear on these matters.
Contact Our Virginia Beach Business Division Lawyers
Our Richmond location serves clients with Virginia Beach business asset division cases. We are accessible via I-64 and Route 44. As an affordable business asset division lawyer Virginia Beach clients can consult, we offer clear guidance. Looking for a business asset division lawyer near me Virginia Beach? We serve Virginia Beach, Sandbridge, and Oceana. 24/7 phone consultations — Toll-Free: (888) 437-7747 | Local: (804)201-9009 — meetings by appointment only.
Law Offices Of SRIS, P.C. — Richmond
7400 Beaufont Springs Dr Suite 300 Room 359
Richmond, VA 23225
By appointment only.
Frequently Asked Questions
Is my business considered marital property in a Virginia divorce?
It depends. A business started during the marriage is typically marital property. A business owned before marriage is separate property, but the increase in value during the marriage may be marital and subject to division under Va. Code § 20-107.3.
How is a business valued for divorce in Virginia?
A business is valued at its fair market value, often requiring a forensic accountant. Common methods include asset-based, market-based, or income-based approaches. The valuation date is usually the date of separation or final hearing. Courts often appoint a neutral experienced.
Can I keep my business and give up other assets?
Yes. This is called an offset or buyout. The business-owning spouse can keep the company by giving the other spouse a larger share of other marital assets (like retirement accounts or home equity) equal to their share of the business’s value.
What if my spouse worked in the business?
If your spouse contributed to the business’s growth, their marital share may be larger. Active contributions (labor, management) are weighed heavily under the equitable distribution factors. Their direct involvement can significantly impact the valuation and final division.
How long does business valuation take in a divorce?
Valuation can take 3 to 9 months, depending on the business’s complexity and records availability. It involves document requests, financial analysis, and often a site inspection. This step is a primary reason complex asset division cases take 12-24 months.
For more information, see our Virginia Family Law hub page. We also assist clients in Henrico County and Chesterfield County. For other legal needs, consider a Virginia Beach criminal defense lawyer or a Virginia Beach DUI lawyer.
Last verified: April 2026. Laws change — contact Law Offices Of SRIS, P.C. at (888) 437-7747 for current guidance.