Virginia residents might be confident that they can handle their finances no matter what happens to them. However, a new survey from TD Ameritrade found that this may not necessarily be the case. The company surveyed 2,000 adults between the ages of 40 and 79 who had at least $25,000 that they could invest. It found that 87% of respondents were sure that they would be financially secure if their partners passed away or if their marriages ended.
When couples are considering divorce, settling matters themselves may seem like the most logical and amicable solution. However, there may be times when going to trial is unavoidable. Couples in Virginia who are unwilling or unable to reach an agreement, whether over assets or child custody, may have to leave the decision in the hands of a family court judge.
Though women are often portrayed in divorce stereotypes as the ones left behind, more than 70% of divorces are initiated by women. Whether they are seeking an annulment, legal separation, uncontested divorce or contested divorce, there are several main reasons women in Virginia give for ending their marriages.
For many Virginia couples, divorce can be a challenging and emotionally difficult time. Where people once felt love for their spouse, it can be all too easy for those feelings to be surmounted by anger and even hatred. While these kinds of negative feelings may be natural during a divorce to some extent, it may be wise not to allow them to guide a legal strategy or approach to divorce negotiations. People may want to share their negative emotions with their friends or a therapist while keeping a clearer, more neutral eye on issues related to child custody or property division.
When Virginia spouses choose to divorce, property division can be a complex and important part of the process. After all, the financial consequences of the end of a marriage often linger for some time after the emotional and practical issues have been dealt with. For many married couples, retirement funds are often some of the largest assets they own -- even more valuable than the marital home or other real estate. Many couples may have multiple accounts, including employment-based plans as well as private Individual Retirement Accounts (IRAs). All of them are typically subject to distribution during a divorce, regardless of the name on any particular account.
Discussing finances can be challenging for some couples. However, it is necessary for them to do so, especially if they want to protect their assets and make sure the assets are passed on to their children. Some Virginia couples have found that a great way to add clarity to their finances is by drawing up a postnuptial agreement.
Dividing a family business during divorce can be one of the most challenging and complex parts of the divorce process for a couple that owns a family business. There are several different ways to address division of a family business during divorce that the divorcing couple should be familiar with.
A prenuptial agreement can be an important consideration for couples who are contemplating marriage.
An uncontested divorce differs from a contested divorce because neither spouse is contesting the divorce. This has important practical implications for the divorcing couple's divorce process that they should understand and be familiar with.
There is a lot that potential parents and families should know and understand about the adoption process. Adoption is an option to consider that can help families get started or to grow which is why it is worth it to be familiar with the process and also how to ensure all of the necessary legal technicalities that are part of the adoption process are taken care of.