Virginia Beach Business Asset Division Lawyer — How Is Your Business 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 Law Offices Of SRIS, P.C. provides critical protection for your enterprise.
Last verified: April 2026 | Virginia Beach General District Court | Virginia General Assembly
Virginia Law on Business Asset Division
Virginia is an equitable distribution state, not a community property state. This means 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 lists 11 factors for dividing property. A key task for a business asset division lawyer Virginia Beach is distinguishing between marital and separate property interests in a company. A business started before the marriage may still have a marital component if it grew in value due to marital effort or funds.
- Identify all business interests: LLCs, corporations, partnerships, sole proprietorships, and professional practices.
- Classify each interest as marital, separate, or hybrid (part marital/part separate).
- Retain a qualified business appraiser for a formal valuation if the value is disputed.
- Explore settlement options: buyout, offset with other assets, or continued co-ownership.
- Prepare for a court hearing on valuation and distribution if no agreement is reached.
- Finalize the division in a court order or property settlement agreement.
Official Legal Resources
For the full text of the law, review the Virginia Code § 20-107.3 (official Virginia General Assembly site). Court forms and local rules are available at 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 an order for continued shared ownership, depending on valuation and the parties’ circumstances.
| Scenario | Classification | Valuation Method | Common Resolution |
|---|---|---|---|
| Sole Proprietorship (Marital) | Marital Asset | Asset-Based or Income Approach | Buyout by one spouse |
| LLC Interest (Pre-marital, grew during marriage) | Hybrid Asset | experienced Appraisal to determine active vs. passive appreciation | Division of marital portion only |
| Professional Practice (Doctor, Lawyer, CPA) | Marital Asset (Goodwill) | Excess Earnings Method | Often retained by licensed spouse with offset |
| Partnership Interest | Marital Asset | Review of Partnership Agreement & Capital Accounts | Subject to buy-sell provisions |
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 legal experience to complex financial divorces. Mr. Sris’s unique background in accounting and information systems provides a distinct advantage in dissecting business finances, and he personally amended the very statute—Va. Code § 20-107.3—that governs how your business is divided. We have a documented record of favorable outcomes in Virginia Beach.
Case Results & Client Focus
Our firm has a documented record of favorable outcomes. In Virginia Beach, we have achieved results across practice areas. Results may vary. Prior results do not guarantee a similar outcome. For instance, our team has successfully negotiated property settlements that allow business owners to retain control of their companies while achieving a fair overall division of assets.
Contact Our Virginia Beach Business Division Attorneys
Our Richmond location serves clients with Virginia Beach business asset division cases. We serve Virginia Beach, Sandbridge, and Oceana. For a business asset division lawyer near me Virginia Beach, contact us for 24/7 phone consultations. Meetings are by appointment only.
Law Offices Of SRIS, P.C.
7400 Beaufont Springs Dr Suite 300 Room 359, Richmond, VA 23225, United States
Toll-Free: (888) 437-7747 | Local: (804)201-9009
By appointment only.
Business Asset Division Lawyer Virginia Beach FAQ
Is my business considered marital property in a Virginia Beach divorce?
It depends. The portion of the business acquired or increased in value during the marriage is typically marital property. A business started before marriage may be separate, but its growth during the marriage could be marital. An affordable business asset division lawyer Virginia Beach can help analyze your specific case under Va. Code § 20-107.3.
How is a business valued for divorce in Virginia?
Courts often use forensic accountants who may apply several methods: the asset approach (value of assets minus liabilities), the income approach (projected future earnings), or the market approach (comparing to similar sold businesses). The chosen method significantly impacts the final valuation used for division.
Can I keep my business after divorce?
Yes, it is possible. Common solutions include buying out your spouse’s marital interest with other assets (like retirement accounts or home equity), agreeing to a payment plan, or, less commonly, continuing to co-own the business post-divorce. The right strategy depends on valuation and available marital assets.
What if my spouse worked in the business?
If your spouse contributed labor, skill, or effort to the business during the marriage, their contribution is a factor under Va. Code § 20-107.3 and strengthens their claim to a share of the marital portion of the business’s value. Their direct involvement is a key consideration for the court.
Do I need a lawyer for business asset division?
Yes. Business division involves complex valuation and legal arguments. An experienced lawyer ensures proper classification, obtains a defensible valuation, and advocates for a fair distribution. Mr. Sris, who amended the relevant statute, and Samantha Powers provide this essential guidance for Virginia Beach cases.
Related Services: For other legal needs in Virginia Beach, see our Virginia Beach criminal defense lawyer or Virginia Beach DUI lawyer pages.
Locations: This page is about Virginia Beach. We also serve Henrico County and Chesterfield County. For a statewide overview, visit our Virginia family law hub page.
Page Last verified: April 2026. Laws change. Contact Law Offices Of SRIS, P.C. at (888) 437-7747 for current guidance.