3 Reasons Why a Property Settlement Agreement is Useful

3 Reasons Why a Property Settlement Agreement is Useful

A property settlement agreement is a useful way to shorten the required period of separation before getting a divorce in Virginia for a couple whose children are all over the age of 18 when the divorce paperwork is filed with the court. Virginia requires a separation for a period in excess of 12 months when a couple has no written agreement. A 12 month separation is also required when a couple has children under the age of 18. When you have no children under 18, a written settlement agreement is a useful way to shorten the required period of separation before filing for divorce in Virginia.

Settling issues in a divorce with an agreement is almost always less expensive than going to court to have a judge decide. A property settlement or “separation agreement” can resolve some or all the rights spouses have that arise out of a marriage. These rights include the right to property, money and support. A property settlement agreement generally will cover all these issues as well as other issues that might be important to a couple intending to divorce. When there are children who are under 18, the written agreement can include terms for their custody, visitation and support. A property settlement agreement is one of the most cost effective methods of accomplishing a marital separation. A litigated, contested divorce can cost tens of thousands of dollars in legal fees (or more!).

In a settlement agreement you get the certainty of an outcome that you have designed. In divorce litigation there is no way to predict what a judge may do with your property and your children. There are also a lot of arrangements for your children that can be agreed upon and that are in their best interests that a court does not have the authority to order. Courts have “one size fits all” solutions for families who many times benefit more by a customized outcome.
Contact the attorneys Bowen Ten PC in Richmond or Ashland to help you determine if a property settlement agreement is right for you.

Contact the attorneys Bowen Ten PC in Richmond or Hanover to help you determine if a property settlement agreement is right for you.

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