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.
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.
Virginia estranged couples should be aware of a ruling by a federal bankruptcy court regarding the authority of the divorce court. According to the ruling, an order issued by a divorce judge cannot determine whether an obligation is subject to bankruptcy relief.
Parents in Virginia who are negotiating child custody issues may be making important decisions based on common misconceptions that abound. There are several specific myths of which parents should be aware when trying to reach agreements.
The divorce rate among Americans who are aged 50 or older has roughly doubled since the 1990s. In 2015, 10 out of every 1,000 married people who were 50 or older were divorced. This is compared to five people out of every 1,000 married who were 50 or older in 1990. For those who are 65 or older in Virginia and around the country, their divorce rate has nearly three times as high in 2015 as it was in 1990.
Most Virginia parents will readily subscribe to the idea that their children's well-being comes before other considerations. However, this is sometimes tested when their marriage is coming to an end. Research shows that the majority of damage children suffer during a divorce is directly related to the arguments and conflicts of parents. It is thus often up to the parents to protect their children from the insecurity, emotional turmoil and pressure to choose sides that many children feel during the process.
Although marriage is generally thought to be about love, there are cases where a Virginia family may want to protect the family assets when their child is looking to get married. For example, a trust that was set up by parents for their child could end up being split up in the divorce if the funds are not properly protected.
Virginia entrepreneurs can risk losing their business in a divorce if they don't set up a prenuptial agreement or a trust. A prenuptial agreement may help people who started a business before they got married to keep their business separate from the marital property. A person who has generational wealth or ownership in a family business may want to protect those kinds of assets with a trust.
Virginia couples who are facing a divorce may have an added hurdle if they have been participating in vitro fertilization treatments. There might be a question of what to do with any frozen embryos, and there is not an extensive body of divorce law on this topic as there is with child custody.
Cuba Gooding Jr. fans may have heard that the actor has finally filed for divorce from his wife following a separation of almost three years. News outlets in Virginia and elsewhere have been following the story. "Irreconcilable differences" was cited as grounds for the initial separation.