After going through a divorce, some Virginia parents decide to remarry later in life. When both future spouses have children from their earlier marriages, they join to create what is called a "blended family." While blended families can work, they often have their own set of unique financial challenges due to a variety of factors.
Many judges in Virginia award child support to custodial parents when approving a divorce decree. If the non-custodial parent experiences a change in income, he or she may be eligible to request a modification of the original decree. However, the change will not occur automatically. The parent requesting a modification must file a petition with the court that granted the original decree.
One of the most challenging parts of going through a divorce is figuring out who will get what in the end. This is true no matter the number of assets you and your spouse have. It is also true no matter the value of these assets.
Some Virginia couples may have a significant disparity in income. Although usually it is the husband making more money, women are taking the lead in this regard in increasing numbers. As the number of two-career couples grows, spouses may start to argue about issues such as child care and housework. If these arguments lead to divorce, the income disparity may become an issue.
Virginia residents who are facing the end of their marriage might wonder what financial steps should be taken in preparation. Friends and relatives might make suggestions, but divorce laws differ among states. Seeking advice from legal and financial professionals may better prepare them. People should also look at their household income and expenses. This can help in putting together a budget and anticipating how property might be divided.