Augusta County Business Asset Division Lawyer — How Is Your Business Valued in Divorce?

Dividing a business in an Augusta County divorce is governed by Virginia’s equitable distribution statute, Va. Code § 20-107.3. A business asset division lawyer Augusta County from Law Offices Of SRIS, P.C. can protect your ownership interests and financial future. Mr. Sris personally amended this statute, providing unique insight into complex property division. We have documented results in Augusta County.

Virginia Law on Business Asset Division

Virginia is an equitable distribution state, meaning marital property, including business interests, is divided fairly but not necessarily equally. The court follows Va. Code § 20-107.3, which Mr. Sris personally helped amend. This statute provides the framework for classifying property as marital or separate and for valuing and dividing marital assets. A business started or acquired during the marriage is typically marital property subject to division. The court’s goal is a fair, not necessarily equal, division based on statutory factors.

Last verified: April 2026 | Augusta County 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). For local court procedures, visit the Augusta County Circuit Court website.

Augusta County Procedures for Business Division

In Augusta County Circuit Court, business division requires detailed financial disclosure. The process often involves forensic accountants and business valuation experts to determine the marital portion and fair market value of a business. The court considers factors like each spouse’s contributions to the business, the business’s role in supporting the family, and tax consequences.

1. File for Divorce: Initiate the case in Augusta County Circuit Court with a complaint that identifies the business as a marital asset.
2. Financial Disclosure: Both parties must file detailed financial statements, including business tax returns, profit/loss statements, and balance sheets.
3. Business Valuation: Hire a qualified business appraiser to determine the fair market value and identify the marital share.
4. Negotiation/Mediation: Attempt to reach an agreement on the business’s value and how to divide it (e.g., buyout, co-ownership, offset with other assets).
5. Trial: If no agreement is reached, the judge will hear evidence on valuation and make a division order.
6. Implementation: Execute the division through transfer agreements, promissory notes, or Qualified Domestic Relations Orders (QDROs) if retirement assets are involved.

Potential Outcomes and Considerations

In Augusta County, dividing a business asset in divorce can result in a buyout, continued co-ownership, or the business being awarded to one spouse with an offsetting award of other assets to the other.

Common resolutions include one spouse buying out the other’s interest, awarding the business to one spouse while the other receives assets of equivalent value, or, less commonly, ordering the sale of the business and division of proceeds. The court will also consider the tax implications of any division.

Results may vary. Prior results do not guarantee a similar outcome.

Why Choose Our Augusta County Business Division Lawyers

Law Offices Of SRIS, P.C. was founded in 1997 by former prosecutor Mr. Sris. Our firm brings over 120 years of combined legal experience to complex financial divorces. Mr. Sris’s personal work amending Virginia’s equitable distribution statute gives our team a deep, practical understanding of how these laws are applied in Augusta County Circuit Court and across Virginia.

Documented Case Experience

Our firm has a documented record of favorable outcomes. In Augusta County, we have achieved results across various practice areas. For instance, we have successfully negotiated settlements that protect a client’s business ownership while ensuring a fair division of the overall marital estate.

Results may vary. Prior results do not guarantee a similar outcome.

Business Asset Division Lawyer Augusta County FAQs

For more information, see our Virginia Family Law hub page. We also assist with criminal defense in Augusta County and DUI defense.

Last verified: April 2026. Information current as of verification date. Laws change — contact Law Offices Of SRIS, P.C. for current guidance.