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.
When couples in Virginia divorce, finances are often a top concern. This is particularly true if either spouse owns a business or the couple owns a business together. This is because businesses are often a significant asset and, in many cases, a primary source of income.
The Social Security Administration reports that 96% of workers throughout Virginia and the rest of the United States have Social Security coverage. People who are eligible to receive Social Security benefits when they retire should know how the process works.
Family law attorneys in Virginia and around the country generally seek to nurture a spirit of compromise and cooperation during divorce negotiations before broaching possibly contentious issues like spousal support. Spouses who are expected to pay alimony often bitterly resent the monthly payments, but they may adopt a more flexible approach after learning why it is awarded and how it is calculated.
When couples in Virginia who are getting a divorce own a business, they will have to decide whether they want to keep it or sell it. Some couples decide that they will keep running the business. However, this is unusual since most estranged couples are not able to set aside their differences enough to work together effectively.
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 the financial implications of divorce before proceeding with the legal process. Sometimes, couples counseling and therapy can resolve issues and help maintain a relationship.
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 years later after reckless spending by one or both partners.
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 long after the emotional and practical attachments have been addressed. However, by keeping some tips in mind, people can help to protect their assets and emerge from divorce with their path to financial success intact.
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 planning for divorce before the marriage even begins. Many people also associate prenuptial agreements with greed and a selfish approach that is incompatible with marriage. However, these views of prenuptial agreements derived from media coverage of celebrity divorces and dramatic fiction often diverge from the reality.