Virginia Beach Business Asset Division Lawyer — How Is Your Company Valued in Divorce?
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 SRIS, P.C. can protect your company’s value. The Virginia Beach Circuit Court uses forensic accountants to value marital business interests, which are then divided fairly, not necessarily 50/50.
Last verified: April 2026 | Virginia Beach Circuit Court | Virginia General Assembly
Virginia Law on Business Asset Division
In Virginia, a business owned by one or both spouses is considered marital property subject to division if it was acquired, improved, or increased in value during the marriage. The legal framework is Va. Code § 20-107.3, which Mr. Sris personally helped amend. The court’s goal is an equitable, or fair, division, considering factors like each spouse’s contributions to the business and the liquidity of the asset. Separate property, such as a business owned before marriage, may be excluded, but its increase in value during the marriage is often marital.
- Identify all business interests, including LLCs, partnerships, professional licenses, and sole proprietorships.
- Retain a qualified business valuation experienced to determine the fair market value of the marital portion.
- Negotiate a buyout, offset with other assets, or propose a co-ownership arrangement post-divorce.
- Present evidence to the court on contributions, active vs. passive appreciation, and tax implications.
- Finalize the division in a court order or binding property settlement agreement.
External Legal Resources
For the official text of Virginia’s equitable distribution law, see Va. Code § 20-107.3 (official Virginia General Assembly). For court forms and local rules, visit the Virginia Beach Circuit Court website.
Potential Outcomes in Business Division
In Virginia Beach, dividing a business asset in divorce can result in a buyout, an offset with other marital property, or continued co-ownership, with the outcome heavily dependent on an accurate valuation.
| Scenario | Classification | Valuation Method | Common Resolution |
|---|---|---|---|
| Closely-Held Corporation | Marital Property | Asset, Market, or Income Approach | Buyout by owning spouse |
| Professional Practice (e.g., Law, Medical) | Marital Property (Goodwill) | Excess Earnings Method | Offset with retirement assets |
| Business Started Pre-Marriage | Hybrid (Separate & Marital) | Trace Active vs. Passive Appreciation | Division of marital increase only |
| LLC with Multiple Members | Marital Property (Interest) | Review Operating Agreement & Financials | Distribution of member interest |
Results may vary. Prior results do not guarantee a similar outcome.
Why Choose Our Virginia Beach Business Division Lawyers
Founded in 1997 by former prosecutor Mr. Sris, Law Offices Of SRIS, P.C. brings over 120 years of combined attorney experience to complex financial divorces. Mr. Sris’s unique background in accounting and information systems, combined with his direct role in amending the very statute governing asset division (Va. Code § 20-107.3), provides a foundational advantage. We understand that a business is often a client’s most valuable asset and work with top financial experts to protect its value during divorce proceedings.
Case Results & Client Focus
Our firm-wide record includes 4,739+ documented case results with a 93%+ favorable outcome rate across Virginia, Maryland, New Jersey, New York, and DC. In Virginia Beach, our team has secured favorable resolutions in complex equitable distribution cases. Results may vary. Prior results do not guarantee a similar outcome. For business division, we collaborate with Mr. Sris, whose amendment of Va. Code § 20-107.3 demonstrates deep, practical knowledge of the law.
Contact Our Virginia Beach Business Asset Division Lawyers
Our Richmond location serves clients with Virginia Beach business division cases. We are accessible via I-64 and Route 44. Serving 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.
Business Asset Division Lawyer Virginia Beach FAQ
Is my business considered marital property in a Virginia divorce?
It depends. The portion of the business acquired or increased in value during the marriage is typically marital property. A business owned before marriage may be separate, but its growth during the marriage is often marital, especially if due to active efforts.
How is a business valued for divorce in Virginia Beach?
A business is valued by forensic accountants using standard methods (asset, income, or market approach). The Virginia Beach Circuit Court often appoints a neutral experienced if spouses disagree. Valuation considers assets, liabilities, goodwill, and future earning potential.
Can I keep my business and avoid selling it?
Yes. Common solutions include buying out your spouse’s share with other marital assets (like retirement accounts or home equity), offsetting the value, or establishing a structured payment plan. The goal is a fair division without forcing a sale.
What if my spouse worked in the business?
Their direct contributions as an employee or manager are a factor under Va. Code § 20-107.3 and can affect the share they receive. The court examines whether their efforts were active (marital) or if growth was passive (possibly separate).
Where can I find an affordable business asset division lawyer near me Virginia Beach?
Law Offices Of SRIS, P.C. offers clear consultations. Contact our Richmond office serving Virginia Beach at (888) 437-7747 to discuss your case and options. We provide focused representation for business division matters.
Related Legal Information
If you are facing a divorce with complex assets, you may also need a Virginia family law lawyer. For other legal matters in Virginia Beach, consider our Virginia Beach criminal defense lawyer or Virginia Beach DUI lawyer. For similar services in nearby areas, see our Henrico County family law lawyer.
Page last verified: 2026-04. Laws change — contact Law Offices Of SRIS, P.C. at (888) 437-7747 for current guidance.