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.
Virginia law requires that there be a valid reason as prescribed by law before a divorce will be granted. While, like many states, Virginia recognizes fault-based grounds and no-fault grounds, it further divides divorce into two categories: divorce from bed and board and divorce from the bond of matrimony.
Film fans in Virginia might find this story about Terrence Howard's alimony arrangements interesting. According to reports, the actor recently signed a divorce agreement that included language obligating him to pay spousal support in the amount of $325,000 to his second wife. The couple was only married for approximately one year before they filed for divorce. Reports suggest that the end of the relationship might have been influenced by allegations of domestic violence.
When ending a marriage, Virginia couples should take steps to protect personal information online by establishing individual accounts and updating passwords. Divorce can inspire feelings of jealousy, resentment and suspicion, and angry spouses may react by prying into their partners' personal lives or attacking their reputation on social media.
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.
Virginia residents contemplating divorce may know that it is an emotionally difficult time. Many decisions need to be made, and some will affect their financial future. Maintaining focus on financial matters is important, and there are things that may be done to make the decisions easier.
As Antonio Banderas and Melanie Griffith filed for divorce after almost 20 years, animal lovers in Virginia and across the nation watched as their separation became contentious over who would keep the pets. Technically, this is not a custody battle because the courts have historically determined that animals are subject to property division determinations. Even so, the couple's battle over who will keep their three canines seems hostile.