Usually, the family home is a marriage's most valuable asset, and divorcing couples in Virginia often find it hard to decide whether to sell or keep it. Spouses who are looking for a clean break and a fresh start might find this decision easy, but couples with fond memories of raising children and living as a family could find the family home very difficult to let go of.
Once couples reach a certain income bracket, their taxes may increase because they are married. Sometimes called the "marriage tax," this applies to couples who in 2019 made at least $612,350. While some Virginia couples may be tempted to file for what is sometimes referred to as a "strategic divorce" in order to avoid these taxes, there are a number of additional costs to consider.
When couples in Virginia and other states go through a divorce, it is common for one spouse to buy out the other's share of equity and keep the family home. This is especially true if children are involved. Here are a few basic steps for calculating a house buyout when going through the divorce process.
Ending a marriage can be emotionally difficult for spouses in Virginia and around the country even if they have been thinking about divorcing for some time. Dealing with legal papers, poring over financial documents and making an inventory of marital assets often takes a heavy toll, and it is not unusual for divorcing spouses to turn to drugs, alcohol or other forms of release. However, there are steps they can take to reduce the strain and get through the process with their psyches intact.
Family law judges in Virginia follow a set of strict guidelines when determining how much child support a noncustodial parent should pay, but their decisions may be revisited and child support orders modified when the situation of one or both of the parents changes significantly. Child support modifications are often ordered when health care premiums or the incomes of either the custodial or noncustodial parent increase or decrease by 25% or more.
Ending a marriage is a decision that should not be taken lightly. This is because Virginia spouses can expect to be emotionally and financially drained by the end of the divorce process. Research has found that women initiate 69% of all divorces, and the rate is even higher among women who have a college degree. There are several reasons why women are more likely then men to ask for a divorce.
An increasing number of people in Virginia and across the country are choosing to divorce at a later stage in life. While divorce trends have remained steady or even decreased for younger Americans, the rates for people aged 50 and up have doubled in the past 30 years. Of course, younger people are still more likely to divorce, but the advent of increasing rates for older people leads to new considerations about health and finances. Divorcing later in life can have significant effects on people's well-being, especially as the end of a marriage is known to be a major life stressor.
Social media is an important part of many people's lives, and this can be especially true during a divorce. Facebook, Twitter or Instagram can be major ways that people connect with their friends and family. Still, those who want to ease their path to a successful divorce settlement may want to be discreet about what they choose to share publicly on their social media profiles. Conflicts over social media use can lead to marital unhappiness, and some types of social media posts could even make it into a Virginia family court during the divorce.
When parents in Virginia determine that they can no longer live together, it's often children who are affected most. Fortunately, there are some steps that parents who are still able to remain civil toward one another can take to protect their kids and make the transition to a two-household life less stressful.
Many Virginia residents know someone, either a relative or friend, who has been completely blind-sided by a divorce. He or she was living a regular, happy life when the other spouse came home one day and declared the marriage was over and there was no possible means of reconciliation. It may be hard to imagine there were no signs of problems, but sometimes one spouse has moved on while the other clings to the comfort and stability of the past. However, when a split seems all but inevitable, it can prove beneficial to begin preparation sooner rather than later.