Any type of major change in a person's life can be mentally exhausting. Even if the event is a beneficial one, it can still be difficult for Virginia residents to work through. Unfortunately, when the change involves an event like deciding to end a marriage, it can be even more emotionally trying.
Heading for divorce can be an uncertain period of life. Divorcing couples have to deal with any number of decisions, including things like alimony, child custody and property division. While many people in Virginia believe that they understand the basics of the divorce process, some myths can complicate things for everyone.
When couples in Virginia and across the country choose to marry, they often take steps to plan for the future. For many, this includes the creation of a prenuptial agreement, which allows them to have an open line of communication regarding their financial situation and what will happen in the event of a divorce. However, there are certain issues that could leave a prenup vulnerable to a successful challenge in the event the marriage ends in a divorce.
There is often a great deal of value in a family home -- both sentimental and monetary. For many couples, their home is one of their largest investments. As such, what happens to the family home and other property following a Virginia divorce is often a hotly contested issue.
The end of a marriage can be a difficult time for both parties. Two people who thought they were going to spend their life together ultimately arrive at the decision that it is no longer in their best interests to remain as a couple. While coping with these emotions, couples in Virginia and across the country are also left dividing their assets as part of the divorce process.
When a couple decides to get married in Virginia, there are likely a million different thoughts and questions running through each person's mind. While it is certainly important to think about where they will live and whether they will have children in the future, it is equally important to consider what will happen in the event of a divorce. In some cases, the couple may choose the plan for this potential outcome by creating a prenuptial agreement.
People in Virginia and across the country are encouraged to begin planning for their retirement as early as they can. They often spend decades of their lives carefully planning their finances for when they no longer work. As a result, retirement funds are often significant, and their division during the divorce process can have a significant impact on both parties.
When couples choose to marry in Virginia, most do so with the intention of being together for the rest of their lives. In some cases, this could include sharing the burdens related to building a business, whether that includes both spouses directly involved in the business or one spouse making sacrifices to enable the other. Should the marriage end in divorce, dividing a business can be complicated.
Ending a marriage is a big step that needs careful consideration. The laws of Virginia require couples to spend some time apart to make sure a divorce is what they want. Before the divorce process can be finalized, spouses must live apart for six months. If they have children, divorcing parents must live separately for at least one year.
Most people in Virginia are aware that a great deal of thought and consideration often goes into the process of deciding whether to end a marriage. Once that decision is made, however, couples are left to make multiple decisions that could ultimately have a significant impact on their financial stability for the years that follow. While deciding who will keep the house and how child custody will be divided are obvious, other decisions -- such as who will retain any points earned with the use of a credit card -- may be easily overlooked during the asset division process of a divorce.