You and your soon-to-be ex-spouse most likely spent a healthy amount of time building a life together. It is likely that the two of you gathered numerous assets during your marriage. Now that the marriage has come to an end, what happens to the house, the cars and the bank accounts?
It is your responsibility to split up the assets that you and your spouse have accumulated. Many people choose to start with an inventory of property and then discuss what is fair. You may be able to peacefully and quickly reach a resolution by yourselves, or you might need some extra help. There are alternatives to divorce litigation for individuals whose situations allow it, while the traditional route of a courtroom divorce is always an option if needed.
Reaching an amicable agreement without litigation
Often, the best-case scenario in a divorce proceeding is when you and your ex can talk things over and reach an agreement that you both accept independently. This option provides the most freedom but is not always achievable if there are unresolvable disagreements between the two parties.
When the two of you have a somewhat amicable relationship with minimal disagreements but need help with some of the details, a divorce mediator can offer useful help. This option helps the divorce move faster and gives the two parties more control over the outcome of the divorce.
Equitable doesn’t always mean exactly equal
In the state of Virginia, marital assets are divided equitably. Unlike community property states, where everything is divided 50/50, equitable distribution means that the judge will divide the marital property according to what he or she deems as fair.
To keep things fair, each spouse will be responsible for giving an accurate and transparent accounting of his or her finances. Any assets that remain non-disclosed or hidden can have a negative impact on the divorce. Divorce attorneys are excellent resources for finding hidden assets, and if they find them, it could portray the party that is attempting the ruse in a negative light.
Understanding the applicable laws to your divorce
The procedures of a divorce can vary and come with many different complexities. Even a person who makes a good faith attempt at resolving the matter may miss some important details. Having a complete picture and understanding of all applicable state laws and guidelines can help you during any negotiations, keep you within the confines of the law and possibly help you reach a better outcome.
Acquiring much-needed assistance
Whether you are already facing a divorce or if you are considering a split from your partner in the near future, the separation of your marital property will most likely be a critical step in this overall process. This can be a rather challenging time, and you may not be sure where to start the process and/or any negotiations.
Attempting to tackle the issue by yourself can be a daunting and risky proposition for most; however, by acquiring the services of an experienced attorney, you can receive answers to your questions and concerns and have guidance through all the aspects involved with your divorce, which should allow you to better focus on moving toward a brighter future.
