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April 2017 Archives

How a prenuptial agreement can protect an inheritance

There are several ways that people in Virginia might attempt to protect family property in case of a divorce. People should not mix an inheritance with the marital funds. This includes using an inheritance to purchase items or pay for services, such as buying or renovating a home, even if the money remains in a separate account. Once they are used to pay for shared property, the funds themselves might be considered marital property.

Child custody battles

Divorced parents living in Virginia might find themselves involved in disputes with their ex-spouses regarding child custody and visitation issues. In an ideal world, people would be able to work out their differences and discover ways to co-parent without any conflict. However, there are situations where third parties, such as lawyers, mediators and even judges end up getting involved.

Separating before a divorce

Virginia couples who are having difficulty with their marriages may choose to separate and physically live in different locations. This action might allow tempers to cool and lead to reconciliation, or it could be a prelude to divorce. Either way, a separation requires consideration of the legal consequences, which could be costly. A divorce financial adviser recommends that estranged spouses prepare a formal separation agreement to protect their finances that the law still considers entwined by marriage.

Worried about a drawn out divorce? Let ADR work for you

As a young, successful individual, you likely have many plans for your life. Of course, roadblocks can crop up, and if you have not planned for these events, you could spend a considerable amount of time and money trying to work through them. Unfortunately, you may have recently decided to end your marriage and now worry that you will face drawn out court proceedings when you would rather just move forward with your life.

Dividing a retirement account and the QDRO

Virginia couples who are going through a divorce and who need to divide certain types of retirement accounts will need a document known as a Qualified Domestic Relations Order. This permits the division of the account and may also be used to pay alimony or child support. The retirement account is divided equitably, but this does not mean that it is necessarily a 50/50 division.

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