Virginia couples who are ending their marriages may want to make certain they are taking a logical and smart approach to the process. Doing so can save a person thousands of dollars both during and after the divorce.
A common mistake people make is engaging in protracted and bitter litigation. This drives up legal expenses while drawing out the process. Litigation may also make it more difficult to get along later, which may be important if a couple shares children. There are alternative methods available that are designed to help couples resolve outstanding issues and reach an accord, including mediation and collaborative divorce.
Property division can present some major headaches. Sometimes, people have different ideas about what a particular asset is worth. In order to avoid litigation over that asset, getting it valued by a professional may be worthwhile. Another issue may concern the marital home. When both spouses have their names on the mortgage, the person who moves may take a credit hit to their credit if the one who remains in the home falls behind on the mortgage payments. It may be smarter to sell the marital home and for both parties to purchase smaller properties in which to live. Talking to a financial planner and figuring out what a person’s expenses will look like after the divorce is important as well.
Divorce litigation may drag out the process for many months or even years. If people are able to reach an accord outside of the courtroom, they may save substantial sums of money and be able to move on with their lives. In many cases, their respective family law attorneys are able to assist in negotiating a comprehensive settlement agreement that addresses the applicable legal issues.