When couples in Virginia walk down the aisle of a church or other venue to recite their wedding vows, they do so with the intention that they will spend the rest of their lives together. Unfortunately, as people change over time, couples find that they are no longer compatible, often leading them to contemplate whether it is in their best interest to end the marriage. While there are many reasons for and against filing for divorce, a person should not feel like he or she has to stay in an unhappy situation simply because of the financial toll it might have.
Concern over what a person’s financial situation will be following a divorce is both understandable and warranted. People often worry whether they will be able to maintain their standard of living and their retirement prospects. However, there are some steps that can help.
First, it is necessary to have a clear understanding of the financial situation, including investments, retirement accounts and savings accounts. Having copies of any documents related to such financial matters can be beneficial. Understanding the tax implications of a split and how much spousal and child support may be involved can give a clearer picture.
While many of the questions involving finances following a divorce can be complicated, people considering such action are able to consult the necessary professionals. While this can include a variety of people, even including mental health professionals, a family law attorney with knowledge of Virginia laws can help with many of the necessary agreements associated with a split. With such help, a person working toward starting the next chapter of his or her life often feels more prepared for the decisions that must be made.