Divorced or separated parents in Virginia may claim their children as dependents when filing taxes. However, they should be aware that if more than one taxpayer claims a kid as a dependent, the Internal Revenue Service will have to take a second look at the returns....
About half of all first marriages end in divorce, and the odds only get worse the more times someone gets married. For divorcing couples in Virginia, financial times can often get rough after separation. That's why it's a good idea for each party to carefully consider...
Though the state of Virginia does not require alimony or spousal support as part of your divorce settlement, a judge may order you to pay support to your ex. If you are in the middle of your divorce proceedings, you may not mind agreeing to payments to speed up your...
Financial pressures can undermine marital relationships. Couples in Virginia who fight frequently about spending and debt face a 30 percent higher chance of getting divorced, according to a recent study. Money challenges might confront new spouses right away or arise...
People in Virginia who are thinking about divorce often remain for years in unhappy marriages because they are worried about the financial consequences of ending the relationship. It is true that the financial aspects of divorce can have lasting effects that remain...
Many spouses-to-be in Virginia may be planning eagerly for their weddings and thinking about venues, dresses and honeymoons. However, experts would also advise them to think about prenuptial agreements. Prenups have a bad name for many people who associate them with...
The Tax Cuts and Jobs Act, which Congress passed in late 2017, may affect the finances of people divorcing in Virginia and around the country. In the past, when divorced parents had one child, they could take turns claiming him or her as an exemption. This will no...
For people of all ages, divorce can be one of life's most stressful events, and this can lead to health problems. Older adults, who are divorcing at twice the rate they did in 1990, should be particularly mindful since these health problems can worsen conditions...
Virginia readers may have heard that gray divorce is on the rise. In fact, the divorce rates for couples ages 50 and above has doubled since 1990, while the rate for those ages 65 and above has tripled. Meanwhile, the divorce rates for all other age groups have been...
When entering a marriage, you bring your personal and financial history to the table. You and your spouse can be coming in with separate property, which is common especially for a midlife marriage. For example, you have a few children, some real estate and/or a small...
