In New Kent County, Virginia, business valuation in divorce is governed by Va. Code § 20-107.3, which Mr. Sris personally amended. Law Offices Of SRIS, P.C. has 11 documented case results in New Kent County, ensuring your business assets are protected during equitable distribution.
Business Valuation Divorce Lawyer New Kent County — Protecting Your Business Assets
Under Virginia law, a business is considered marital property subject to equitable distribution. The court must determine the fair market value of any business interest acquired during the marriage. This process, known as business valuation, is critical for dividing assets fairly. The primary statute governing this is Va. Code § 20-107.3, which Mr. Sris personally amended to strengthen protections for business owners.
Last verified: April 2026 | New Kent County General District Court | Va. Code § 20-107.3 (official Virginia General Assembly)
For business valuation in divorce, the court applies the standard from Va. Code § 20-107.3. This statute requires a fair market value determination of any business, professional practice, or enterprise. The court considers factors like goodwill, earning capacity, and the contributions of each spouse. This is distinct from general property division, as business assets require specialized appraisal.
In New Kent County Circuit Court, the judge often appoints a neutral business appraiser when the parties cannot agree on value. This process can significantly impact your case timeline and costs.
- Identify all business interests acquired during the marriage.
- Gather financial documents: tax returns, profit/loss statements, balance sheets.
- Engage a certified business appraiser (CBA) or forensic accountant.
- File a motion for pendente lite relief if temporary support is needed.
- Attend mediation to attempt settlement before trial.
- Present the valuation report at the equitable distribution hearing.
In New Kent County, business valuation in divorce carries no criminal penalty but determines the division of assets. The court may order a monetary award to balance the distribution.
| Issue | Classification | Incarceration | Fine | License Impact | Additional Consequences |
|---|---|---|---|---|---|
| Failure to Disclose Business Assets | Contempt of Court | Up to 10 days | Up to $1,000 | None | Court may award attorney fees to the other party |
| Hiding Business Income | Perjury / Fraud | Up to 12 months | Up to $2,500 | None | Court may award a larger share of assets to the other spouse |
Results may vary. Prior results do not guarantee a similar outcome.
Law Offices Of SRIS, P.C. was founded in 1997 by former prosecutor Mr. Sris. The firm has over 120 years of combined legal experience and has documented 4,739+ case results firm-wide with a 93%+ favorable outcome rate. Mr. Sris personally amended Va. Code § 20-107.3, the equitable distribution statute, which directly impacts how business valuations are handled in Virginia divorce cases. Our advocacy is built on the principle of “Advocacy Without Borders.”
Mr. Sris, the firm’s founder, also brings decades of experience to these cases, having personally amended the statute that governs business valuation in divorce.
In New Kent County, Law Offices Of SRIS, P.C. has 11 total documented case results across all practice areas, with a 100% favorable outcome rate. Firm-wide, we have achieved 4,739+ case results with a 93%+ favorable outcome rate across Virginia, Maryland, New Jersey, New York, and Washington D.C.
Results may vary. Prior results do not guarantee a similar outcome.
Our Richmond location is approximately 30 minutes from the New Kent County Circuit Court, accessible via I-64 and Route 33.
Looking for a Business Valuation Divorce Lawyer New Kent County near Colonial Downs or the historic courthouse? We serve clients throughout New Kent County.
We serve the communities of New Kent, Providence Forge, and Quinton.
24/7 phone consultations — (888) 437-7747 — meetings by appointment only.
Law Offices Of SRIS, P.C.
7400 Beaufont Springs Dr, Suite 300, Rm 395, Richmond, VA 23225
Toll-Free: (888) 437-7747 | Local: (804)201-9009
By appointment only.
How is a business valued in a New Kent County divorce?
Yes, the court uses a fair market value standard under Va. Code § 20-107.3. A certified business appraiser or forensic accountant determines the value based on assets, income, and goodwill. The court then divides the value equitably between the spouses.
Can I keep my business in a divorce?
It depends. You may keep your business if you can buy out your spouse’s share or if the business is separate property. The court will consider the business’s value and your ability to pay a monetary award to the other spouse.
What is the cost of a business valuation for divorce?
It depends. A certified business appraisal typically costs between $5,000 and $15,000, depending on the complexity of the business. This is also to the Circuit Court filing fee of approximately $86 and other court costs.
How long does a business valuation divorce take in New Kent County?
It depends. A contested divorce with complex business valuation can take 12-24 months from filing to final decree. The valuation process itself can take 2-4 months, depending on the availability of financial documents and the appraiser’s schedule.
Is Virginia a community property state for business assets?
No. Virginia is an equitable distribution state. The court divides business assets fairly, not necessarily 50/50. The court considers 11 factors under Va. Code § 20-107.3, including each spouse’s contributions and the business’s economic circumstances.
Last verified: April 2026. Information current as of this date. Laws change — contact Law Offices Of SRIS, P.C. at (888) 437-7747 for updated guidance.