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Posts tagged "Divorce"

The pros and cons of assuming a mortgage after a divorce

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.

Mortgage misconceptions related to divorce and the marital home

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.

Tips for those ending their marriage

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.

How to end a marriage in a mature fashion

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.

Divorce mistakes that could be costly

Getting a divorce in Virginia doesn't necessarily have to be a costly process for couples parting ways. There are many factors that will ultimately determine the financial implications of a split, some of which are unavoidable. Even so, there are certain mistakes that could make ending a marriage a bit more costly than anticipated.

The advantages of a prenup for student couples

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.

Options for dealing with a home in a divorce

When couples in Virginia separate or are ready to get a divorce, they may have a home they need to sell or that one person wants to keep. There are several factors to keep in mind at this stage. One is that neither person may be able to afford the house on a single income once they look at a monthly budget.

Why it's important for couples to get out of debt

Couples in Virginia might want to take steps to get out of debt. A survey from Fidelity found that more than half of partners are in debt when they enter a relationship. Of those people, more than one-third said money issues had a negative effect on the relationship, and almost half disagreed about which partner was at fault.

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