Roanoke County Business Asset Division Lawyer — How Is Your Business Valued?
Dividing a business in a Roanoke County divorce is governed by Va. Code § 20-107.3. The court must classify the business as marital or separate property and determine its fair market value. Law Offices Of SRIS, P.C. has 34 documented case results in Roanoke County. Our business asset division lawyer Roanoke County team provides full representation to protect your financial future.
Last verified: April 2026 | Roanoke County General District Court | Virginia General Assembly
In Virginia, a business owned by one or both spouses is subject to equitable distribution during divorce. This process requires a precise valuation and classification under state law. The Roanoke County Circuit Court handles these complex matters. An experienced business asset division lawyer Roanoke County can guide you through each step.
Virginia Law on Business Asset Division
Virginia is an equitable distribution state, not a community property state. This means marital property, including a business, is divided fairly but not necessarily equally. The primary statute is Va. Code § 20-107.3. This law was personally amended by Mr. Sris, providing our firm with deep insight into its application. The court follows an established process to handle business interests.
- Classification: Determine if the business is marital property, separate property, or a hybrid. A business started before marriage is typically separate, but its increase in value during the marriage may be marital.
- Valuation: Obtain a professional business valuation. Methods include asset-based, market value, or income approaches. The date of valuation is usually the date of the last separation.
- Distribution: The court decides how to divide the business interest. Options include awarding the business to one spouse with an offsetting award of other assets to the other, ordering a sale, or establishing a shared ownership arrangement.
- Implementation: Finalize the division through the divorce decree and any necessary legal documents to transfer ownership or pay equalizing awards.
Potential Outcomes and Considerations
In Roanoke County, dividing a business asset can result in one spouse retaining ownership, a buyout, or a court-ordered sale, with the goal of a fair overall property division.
Results may vary. Prior results do not guarantee a similar outcome.
Firm Experience in Business Division Cases
Law Offices Of SRIS, P.C. was founded in 1997. Our firm has over 120 years of combined attorney experience. We have handled numerous cases involving the division of businesses, professional practices, and complex financial assets. Mr. Sris personally amended Virginia’s equitable distribution statute, Va. Code § 20-107.3, giving our team a foundational understanding of this area of law.
Our secondary attorney on complex financial cases is Mr. Sris, the firm’s founder and a former prosecutor with a background in accounting and information systems. His unique financial insight is applied to business division strategy.
Case Results and Client Focus
In Roanoke County, our firm has a total of 34 documented case results across all practice areas, with a 94% favorable outcome rate.
Results may vary. Prior results do not guarantee a similar outcome.
We represent business owners and professionals throughout the Roanoke Valley.
Law Offices Of SRIS, P.C.
Shenandoah/Woodstock Location — 505 N Main St, Suite 103, Woodstock, VA 22664
Toll-Free: (888) 437-7747
By appointment only.
Our Shenandoah/Woodstock location serves clients at the Roanoke County courts. We are accessible via I-81 and other major highways. As an affordable business asset division lawyer Roanoke County resource, we offer 24/7 phone consultations — (888) 437-7747 — with meetings by appointment only. We serve Salem, Vinton, Cave Spring, Hollins, and Catawba.
Business Asset Division Lawyer Near Me Roanoke County: FAQs
Is my business considered marital property in a Virginia divorce?
It depends. A business started before marriage is generally separate property, but the increase in its value during the marriage is usually marital. A business founded during the marriage is typically entirely marital property, subject to equitable division by the Roanoke County Circuit Court.
How is a business valued for divorce in Virginia?
The court often appoints a neutral forensic accountant or business appraiser. Common valuation methods include reviewing assets and liabilities, analyzing company earnings, and comparing it to similar sold businesses. The valuation date is usually the date of the last separation before filing.
Can I keep my business and avoid selling it?
Yes. Often, the business-owning spouse keeps the company by giving the other spouse other marital assets of equal value, such as retirement accounts, real estate, or a cash payment. This is called an “offset” or “equalization” award.
What if both spouses work in the business?
This creates a more complex division. The court may consider awarding the business to one spouse if they are primarily responsible for its operations, or it may order a sale and split the proceeds. Sometimes, continued co-ownership is ordered but is often discouraged due to potential conflict.
Where are business division cases heard in Roanoke County?
All divorce and equitable distribution matters, including business division, are filed in the Roanoke County Circuit Court, located at 305 East Main Street, Salem, VA 24153. You can find more information on the Virginia Courts website.
For more information, see our Virginia Family Law hub page. We also assist with related matters like criminal defense in Roanoke County.
Last verified: April 2026. Laws change — contact Law Offices Of SRIS, P.C. for current guidance.