Have you supported your spouse’s business, putting your own aspirations on hold? If so, you might wonder how Virginia courts view these contributions if you divorce. Understanding how the law treats sacrifices made for a spouse’s business success is essential to protect your interests.
How do Virginia courts evaluate contributions to a business?
Virginia uses equitable distribution, which means that when you divorce, the court splits marital property fairly but not always equally. When you help your spouse’s business grow during marriage, you might need to divide that business or its increased value as marital property. Your direct work in the business counts. Meanwhile, your indirect help, like managing the household, supporting moves, and giving up career chances, also matters.
In Virginia, courts look at how you and your spouse contributed to the family and marital property. They follow outlines when dividing property as well. You must show how your actions helped the business, even if you were not paid. Here is how:
- Show what you did for the business. Write down your involvement, even if you did not get paid.
- Get proof of career sacrifices. Use letters from potential employers or compare salaries.
- Keep track of what you do at home. Show how your work at home helped your spouse focus on the business.
Figuring out these sacrifices can be tough. Financial experts can help see how much the business grew because of your help.
What evidence do you need to support your claim?
Solid evidence strengthens your claim. Testimony from friends’ family and former colleagues can validate your contributions. Financial records, tax returns and business valuations are also crucial. Courts want to see a clear link between your sacrifices and the business’s growth. You can get help from your attorney to gather and present this evidence effectively. They know what information will be most helpful in your case.
Understanding your rights in a divorce
Divorce cases involving a business require a detailed approach. It is beneficial to have a clear understanding of your legal position. Consulting with an attorney to review your situation can help protect your rights and advocate for a fair outcome.
