Blog Post
Fairfax Property Settlement Lawyer: Simplifying Divorce Through Clear Agreements
2/8/2026
Dividing assets, debts, and financial obligations during divorce can be complicated, emotional, and stressful. A Property Settlement Agreement (PSA) provides clarity by outlining how property, debts, retirement accounts, spousal support, and, when appropriate, child-related matters will be divided.
A Fairfax property settlement lawyer ensures your agreement is comprehensive, enforceable, and tailored to your family’s needs, helping you avoid unnecessary court battles and protect your long-term financial security.
What Is a Property Settlement Agreement?
A Property Settlement Agreement (PSA) is a private contract between divorcing spouses that details how marital assets and debts will be divided. It may also address:
Spousal Support (Alimony): Payment amounts, duration, and conditions.
Child Custody & Support: Subject to court approval and based on the child’s best interests.
Once signed and incorporated into a Virginia court’s divorce decree, a PSA is legally enforceable. This means either party can return to court to compel compliance if the agreement is violated.
Benefits of a PSA include:
Control: You and your spouse set terms rather than leaving decisions to a judge.
Privacy: Resolves matters without exposing private details in public court hearings.
Faster Resolution: Negotiation is usually quicker than litigation.
Cost Savings: Reduces attorney fees and court costs.
Custom Solutions: Tailors property division, debt allocation, and financial arrangements to your family’s unique situation.
Critical Components of a PSA
A well-drafted PSA addresses every key area of financial separation:
1. Asset Division
Includes:
Real estate (marital home, vacation properties)
Vehicles and bank accounts
Investment portfolios
Business interests
Personal property (jewelry, heirlooms, furniture)
A Fairfax property settlement lawyer helps classify assets as marital or separate and ensures equitable division.
2. Debt Allocation
Assign responsibility for:
Mortgages
Credit cards
Student loans
Personal loans
Medical bills
Clear allocation prevents disputes and protects both parties’ credit.
3. Spousal Support (Alimony)
Specifies whether support will be paid, the amount, duration, and conditions that may terminate payments (e.g., remarriage, cohabitation, or retirement).
4. Retirement Accounts & Pensions
Dividing retirement accounts may require a Qualified Domestic Relations Order (QDRO) to avoid tax penalties. We coordinate with financial professionals as needed.
5. Tax Considerations
A PSA can clarify:
Who claims dependents
Allocation of refunds or liabilities
How property transfers are taxed
Addressing these in advance avoids surprises during tax season.
The Irving Law Firm – Fairfax Divorce Lawyers
10505 Judicial Drive Suite 300
Fairfax, VA 22030
(571) 474-1990
https://www.FairfaxDivorceLawyers.com/