Fredericksburg, VA asked in Divorce and Family Law for Virginia

Q: When a couple agree to waive rights to equitable distribution in a divorce agreement, what does that mean in lay terms?

Wording from divorce agreement: "...waive any right to equitable distribution under Section 20-107.3 of the Code of Virginia to the retirement or pension accounts, life insurance..." ALSO, I know what equitable distribution refers to, just not exactly what this phrase refers to in layman's terms. Thank you-

Related Topics:
1 Lawyer Answer
James H. Wilson Jr.
PREMIUM
James H. Wilson Jr.
Answered
  • Glen Allen, VA
  • Licensed in Virginia

A: In resolving the incidents of marriage upon separation and/or divorce, the spouses have four choices:

1. Do nothing and allow the issues to remain unresolved;

2. Address each item of property as an individual item as necessary, typically according to actual title;

3. Enter into a comprehensive written separation agreement addressing the division of marital property and the allocation of marital debt by themselves, with attorney(s), or through mediation; or,

4. Present the issues to a judge sitting in equitable distribution incident to a divorce.

If the parties choose number 3 above, there is no longer any reason for number 4 above. If the parties enter into a comprehensive written separation agreement, there is no reason for equitable distribution. Consequently, attorneys who draft separation agreements typically include a waiver of that right, just to make it clear to all the parties that the agreement takes the place of equitable distribution.

Anyone facing separation or divorce should consult with an experienced Virginia divorce lawyer.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.