In many divorce cases in Virginia, spousal support is among the final issues to be resolved. This is because the parties to a divorce need to split assets and otherwise determine what resources each person will walk away from the marriage with. At that point, talks can begin regarding the potential need for financial assistance. There are many factors that come into play when deciding how much support an ex-spouse should receive.
Divorce involves the separation of financial lives. Although this process does not necessarily damage the credit scores of estranged Virginia couples, it could result in financial distress and damaged credit records. Jointly held credit accounts, like mortgages or credit cards, create opportunities for negative credit scores after a divorce. Although a divorce decree might require one party to pay a credit card bill, the creditor still looks to both parties for payment on joint accounts. Missed payments ding the credit scores of people who were expecting former spouses to meet their obligations.
More than 25% of American mothers with kids younger than 18 do not work outside the home. For fathers, that figure is 7%. When stay-at-home mothers in Virginia get divorced, they are entitled to an equitable amount of marital assets. This raises an issue about how to value caregiving compared to being the family breadwinner.
Determining where children should live and how they will spend their time can be a complicated process when Virginia parents are going through a divorce. The courts are likely to determine that one parent will need to pay child support. This will allow both parents to share the financial burden of raising their children.
Many Virginia residents have probably noticed the headlines regarding the separation of Amazon CEO Jeff Bezos and his wife MacKenzie. The divorce has been riddled with stories of adultery and threats of blackmail. While this type of split isn't exactly typical, it's not unusual for high-asset divorces to be complex. There are a few lessons that can be taken away from this celebrity breakup.
In addition to alimony, retirement accounts and child custody and support, dealing with the marital home is often one of the most contentious issues among divorcing couples in Virginia. A common solution is for one ex to keep the home. In such a case, the next step is to determine how to handle the mortgage. One option is to retain the original joint mortgage. Another possibility is to refinance.
Divorcing couples in Virginia and elsewhere tend to disagree over issues like alimony, retirement accounts, pensions and child support. The marital home is another common source of contention when a marriage comes to an end. Oftentimes, a settlement results in one spouse keeping the home. If this is what happens, there are typically three options with the mortgage: keeping the original joint mortgage, refinancing it, or assuming the original mortgage.
An increasing number of divorcing couples in Virginia who have to address cryptocurrency holdings may find that the divorce process is more time-consuming and complicated than they thought. This is because dealing with cryptocurrency assets brings with it a number of issues.
While no one ever plans on getting divorced, it is possible that a person could see his or her marriage come to an end. Therefore, it is vital that Virginia residents and others who get married have a plan in case the relationship doesn't work out. For instance, it is important to consider whether or not it is a good idea to keep the family home.
Virginia residents and others who get divorced may see the split itself as a war to be won. However, this doesn't have to be the case. Instead, individuals can work together to end the relationship in a civil and timely manner. Prior to starting divorce talks, it can be a good idea to think about the types of conflict that occurred within the marriage itself.