Virginia couples planning on marriage may benefit from signing a prenuptial agreement to specify their financial arrangements in the case of a divorce or the death of one spouse. Creating a prenuptial agreement can be a straightforward process, and it is recommended that both parties have their own attorney. Full disclosure of finances on behalf of both parties is also an important and required part of the process.
Couples in Virginia may be surprised to learn that nearly 15 percent of 2,000 couples in a poll conducted by a British law firm said that they had considered divorce due to the activities of their spouses on social media. In addition, nearly 25 percent said they argued at least weekly with their spouse about social media while almost one out of every five respondents said they fought about it daily.
At the end of a marriage, Virginia parents work through divorce legal issues that affect their children such as child custody and child support and visitation plans. Decisions about these issues could have an effect on taxes.
Any man or woman who is the primary caretaker of minor children in the state of Virginia may file to receive financial support from the other parent. In order to receive child support payments from the non-custodial parent, the primary caretaker will have to prove that the other parent has a duty to financially support the child.
Virginia provides two options for someone who wants to divorce: divorce from bed and board and divorce from matrimony. The first option is not recognized as full legal divorce; a person might divorce from bed and board because of cruelty, possible fear of bodily harm or desertion.
A divorce can be a difficult time for a former couple because of the complexity of separating the social and financial interests of both parties. However, when going through divorce proceedings, it may be beneficial for a Virginia resident to keep certain financial realities in mind.
An uncontested divorce in Virginia might be simpler and less stressful than a contested one, but there are still requirements couples should be aware of when initiating the process. To obtain a divorce or to become legally separated in Virginia, at least one person must live in the commonwealth or have been a domiciliary for a minimum of six months. Service members who have been on duty in Virginia for six months or longer can file as well.
While many older couples in Virginia who have more substantial assets are more apt to get a prenuptial agreement, younger couples often believe that prenups are unromantic and can show a lack of trust or commitment. However, young couples should seriously consider one for a variety of reasons.
When Virginia couples go through a divorce, the property division phase may be one of the most difficult parts of the process. In nearly every case, the couple's home becomes a major point of contention. Sometimes, the couple sells the home and splits the profits between both individuals. This can help ensure that each receives a portion of the home's worth.
Virginia baseball fans may have followed the divorce of former Los Angeles Dodgers owner Frank McCourt and his wife Jamie, to whom he had been married for more than 30 years. The couple entered into a divorce settlement agreement in 2012 that gave her $131 million as well as a few luxury homes that had been purchased by the couple during their marriage. The settlement agreement contained a clause that provided that a party who contested the agreement would have to pay the other party's legal fees.