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 Virginia Beach Circuit Court at 2425 Nimmo Parkway handles these complex cases, where forensic accountants are often required to value marital interests.
Virginia Law on Business Asset Division
Virginia is an equitable distribution state, meaning marital property, including business interests acquired during the marriage, is divided fairly but not necessarily equally. The court follows Va. Code § 20-107.3, which provides 11 factors for dividing property. A key first step is classifying the business interest as separate, marital, or hybrid property. Separate property includes a business owned before marriage or received by gift or inheritance. The increase in value of a separate property business during the marriage may be marital property subject to division.
Last verified: April 2026 | Virginia Beach Circuit Court | Virginia General Assembly.
Official Legal Resources
For the full text of the law, review Va. Code § 20-107.3 (official Virginia General Assembly). Court procedures and forms are available at the Virginia Beach Circuit Court website.
Local Process for Dividing a Business in Virginia Beach
In Virginia Beach, dividing a business asset requires detailed financial disclosure and often experienced testimony. The court must first determine the value of the marital portion of the business. This frequently involves hiring a forensic accountant or business valuation experienced. The other spouse may be awarded a distributive award (a payment) or other marital assets to offset the value of the business, allowing one party to retain full ownership.
- Disclosure & Discovery: Both parties must fully disclose all business financial records, including tax returns, profit/loss statements, and balance sheets.
- Valuation: The court may appoint a neutral experienced, or each side may hire their own forensic accountant to value the business.
- Classification: Arguments are presented on what portion of the business is marital versus separate property.
- Division Proposal: Your attorney will propose a method for dividing the asset or compensating the other spouse.
- Court Determination: The judge applies the statutory factors to decide a fair division.
- Implementation: The final decree will outline the division, which may involve buyouts, payment plans, or sale of the business.
Why Choose Our Virginia Beach Business Law Team
Founded in 1997, Law Offices Of SRIS, P.C. brings over 120 years of combined legal experience to complex financial divorces. Mr. Sris personally amended the very statute governing asset division, Va. Code § 20-107.3, giving our firm unique insight. We understand that a business is often a client’s most valuable asset and work to protect its continuity and value during dissolution.
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, we have documented results in family and business law matters.
Results may vary. Prior results do not guarantee a similar outcome.
Mr. Sris, our managing attorney and a former prosecutor, provides strategic oversight on complex asset division cases.
Contact Our Virginia Beach Business Asset Division Lawyer
Our Richmond location serves clients with Virginia Beach business asset division cases. We represent clients in Virginia Beach, Sandbridge, and Oceana. For an affordable business asset division lawyer Virginia Beach residents can consult, contact us for 24/7 phone consultations.
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 Lawyer Virginia Beach FAQ
Is my business considered marital property in a Virginia divorce?
It depends. A business owned before marriage is typically separate property, but the increase in its value during the marriage may be marital. A business started during the marriage is usually marital property subject to equitable division under Va. Code § 20-107.3.
How is a business valued for divorce in Virginia Beach?
A business is valued by forensic accountants who analyze assets, income, market position, and goodwill. Common methods include asset-based, market-based, and income-based approaches. The Virginia Beach Circuit Court often orders a neutral valuation experienced if the spouses cannot agree on value.
Can I keep my business in a divorce?
Yes, it is possible. The spouse retaining the business typically must “buy out” the other spouse’s marital interest. This is done by awarding the other spouse other marital assets of equivalent value or through a distributive award—a court-ordered payment over time.
What if my spouse worked in the business?
If your spouse contributed to the business’s growth during the marriage (e.g., through labor, management, or financial support), their marital share may be larger. Their direct contributions are a factor the court considers under Va. Code § 20-107.3 when dividing the asset.
Where can I find a business asset division lawyer near me Virginia Beach?
Law Offices Of SRIS, P.C. serves Virginia Beach clients from our Richmond location. We offer phone and in-person consultations by appointment. Contact us at (888) 437-7747 to speak with a business asset division lawyer near me Virginia Beach residents recommend for complex financial cases.
Related Services: For other legal needs in Virginia Beach, see our Virginia Beach criminal defense lawyer and Virginia Beach DUI lawyer pages. For more on family law statewide, visit our Virginia family law hub.
Page Last verified: April 2026. Laws change — contact Law Offices Of SRIS, P.C. at (888) 437-7747 for current guidance.