Marital property is defined as all jointly-owned property and all other property, other than separate property, acquired from the date of the marriage to the date of separation.

What are considered marital assets?

Marital property includes real estate and other property a couple buys together during their marriage, such as a home or investment property, cars, boats, furniture, or artwork, when not acquired by either as separate property.

How do I protect my assets before getting married?

Here are Garber’s tips.

1. Consider Keeping Separate Accounts and Opening a Joint Account. Organization and separation are key.
2. Keep Your Property (and Taxes) in Separate Names.
3. Keep Diligent Records.
4. Keep Property Appreciation in Mind.
5. Consider a Revocable Trust.
6. Work Through it With a Pro.

Who is the legal owner of a Virginia life estate?

Virginia life estate law gives the grantor certain rights over the property during his lifetime. While the life estate grantor is no longer the legal owner of the property after the deed is transferred, he may continue to live in the property or rent the property for the remainder of his lifetime.

Can a life tenant sell a property in Virginia?

Virginia law gives the life estate grantor the right to sell the property at any time. The life tenant (grantee) may not sell the property or force the grantor to move out of the property.

How does a Virginia life estate deed work?

A life estate deed gives the grantor the right to transfer the deed to his or her home to another party while continuing to live in the home. Understanding Virginia life estate laws will help ensure that the grantor retains the right to live in his or home until death, while transferring the legal right to ownership…

How are marital property laws determined in Virginia?

Instead, Virginia marital property laws consider the nature of each piece of property and which party is most likely to use a given item. In the event of death or divorce courts will have to determine which property is separate property and which property is owned by both spouses.