Few people want to think about the possibility of divorce and the need for prenuptial agreements while planning a wedding. Students may be even less likely to think a prenup is needed since they may have few assets. However, there are several reasons students in Virginia might want to consider one.
How illness can lead to divorce
A Virginia couple may be more likely to divorce when the wife gets sick. Of course, this depends on what type of illness she has and how strong the marriage was before the illness occurred. However, data from multiple studies suggests that a man getting sick doesn't have the same type of impact on a marriage. Overall, research suggests that a man's health benefits more from being married than a woman's health does.
Finding a new financial team after a divorce
Some former Virginia couples come out of a divorce after having had a relationship where the dependent spouse relied on outside sources for financial advice. When transitioning back to a single life, some dependent spouses prefer to continue to use the same set of financial professionals they relied on when married. However, it's generally advised that former spouses looking to make a clean break select their own financial team post-divorce, especially if it was the other partner who picked the other financial experts in the first place.
Support modification only for big changes in circumstance
Generally speaking, courts in Virginia will consider modifying an order of child support when there has been a substantial change in the level of need of the child or in the payor's income. People who have been ordered to pay child support might be eligible for a modification if they lose their job or have a reduction in income. For the parent receiving child support payments, modification might be available if the child has increased medical or education expenses.
How an 'attractiveness gap' could lead to divorce
There are a number of factors that can lead to conflict in a Virginia marriage, and some issues might be more complex than they appear on the surface. According to some researchers, men who marry women who are more conventionally attractive than them may have a higher risk of divorce. While social definitions of attractiveness may vary substantially from person to person, those who are generally considered more "beautiful" receive a large number of approaches and invitations on dating sites and other spaces designed for romantic or sexual interaction.
Liquidation vs. reorganization bankruptcy
Virginia residents who are looking to file for bankruptcy will generally consider Chapter 7 or Chapter 13 protection. Chapter 7 cases are referred to as liquidation bankruptcies as they involve selling nonexempt property to raise capital to pay off debts. Any balances that remain after assets are liquidated are usually discharged. The entire process takes as little as four months to complete, but not all debtors will qualify for Chapter 7 protection.
