Business Asset Division Lawyer Henrico County — Protecting Your Business in Divorce
Dividing a business in a Henrico County divorce is governed by Virginia’s equitable distribution law, Va. Code § 20-107.3. A business asset division lawyer Henrico County from Law Offices Of SRIS, P.C. can protect your ownership interests and financial future. We have 21 documented case results in Henrico County. Call (888) 437-7747 for a consultation.
Last verified: April 2026 | Henrico County Circuit Court | Virginia General Assembly
When a business is part of a marital estate, its division is one of the most complex aspects of a Virginia divorce. Virginia is an equitable distribution state, meaning the court divides marital property fairly, but not necessarily equally, based on statutory factors. A business asset division lawyer Henrico County is essential to handle valuation, classification, and potential buyout scenarios to achieve a fair outcome.
Virginia Law on Business Asset Division
The primary statute governing the division of all marital property, including businesses, is Va. Code § 20-107.3. This statute requires the court to classify property as separate or marital, value the marital property, and then divide it equitably. A business started during the marriage is typically marital property. A business owned before marriage may be separate, but its increase in value during the marriage could be marital. The Henrico County Circuit Court handles all equitable distribution matters.
- Gather all business financial records, including tax returns, profit/loss statements, and balance sheets.
- Consult with a business asset division lawyer to develop a strategy for classification and valuation.
- Retain a qualified business valuation experienced if the value is contested.
- Explore settlement options, such as a buyout or continued co-ownership, through negotiation or mediation.
- Prepare for a contested hearing before a Henrico County Circuit Court judge if a settlement cannot be reached.
Why You Need a Business Asset Division Lawyer
An affordable business asset division lawyer Henrico County provides critical guidance. They help determine if the business is marital or separate property, secure a proper valuation, and argue for a division that considers your role in the business and future income needs. Without experienced representation, you risk an unfair division that jeopardizes your livelihood.
Case Results & Firm Authority
Law Offices Of SRIS, P.C. was founded in 1997 and brings over 120 years of combined attorney experience to every case. In Henrico County, we have 21 total documented case results across all practice areas. Mr. Sris, the firm’s founder and a former prosecutor, personally played a key role in amending the very equitable distribution statute (Va. Code § 20-107.3) that governs business division today.
Results may vary. Prior results do not guarantee a similar outcome.
Law Offices Of SRIS, P.C. — Richmond Location
7400 Beaufont Springs Dr Suite 300 Room 359, Richmond, VA 23225
Toll-Free: (888) 437-7747 | Local: (804)201-9009
By appointment only. 24/7 phone consultations.
Our Richmond location serves clients in Henrico County and is accessible via I-64, I-95, and I-295. We are a business asset division lawyer near me Henrico County for residents of Glen Allen, Short Pump, Innsbrook, Tuckahoe, and Highland Springs.
Business Asset Division FAQs
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 generally separate property, but any increase in its value during the marriage may be considered marital and subject to division.
How is a business valued for divorce in Virginia?
A business is valued by determining its fair market value. This often requires a forensic accountant or business valuation experienced who will analyze assets, liabilities, cash flow, and goodwill. The valuation method (asset-based, income-based, or market-based) depends on the business type.
Can I keep my business after the divorce?
Yes. One common outcome is for one spouse to buy out the other spouse’s marital interest in the business. The buyout can be accomplished with a cash payment, offset with other marital assets, or through a structured payment plan over time.
What if my spouse worked in the business?
If your spouse contributed to the business’s growth or value during the marriage (e.g., through labor, management, or financial support), their contributions are a factor the court considers under Va. Code § 20-107.3 when determining an equitable division of the marital share.
For related legal help, see our Virginia Family Law hub, or our pages for Chesterfield County family law and Henrico County criminal defense.
Last verified: April 2026. Laws change — contact Law Offices Of SRIS, P.C. at (888) 437-7747 for current guidance.