You have concerns about the divorce process, with many of them tied to your current and future financial circumstances.
Older Virginians who decide to divorce often have to contend with more complicated issues than younger couples. This is because older adults frequently have more complex finances than younger people who divorce. Older adults need to be cautious with how they handle property division, spousal support and estate planning during a divorce.
Too little help with housework, no career support and poor communication are among the reasons why women in Virginia may be more likely than men to initiate a divorce. The American Sociological Association found in a 2015 study that almost 70% of divorces were initiated by women.
Virginia couples who are considering divorce in the new year might be surprised to learn that divorce filings increase during the first half of January each year. It is a trend that has already been studied because it seems to be happening consistently even as divorce rates in general have dropped by 8% between 2007 and 2017.
People in Virginia who are going through a divorce may want to consider working with a financial planner or a certified divorce financial analyst along with an attorney. These financial professionals may help in determining what a person's assets are and how to budget for the divorce and its aftermath.
Women who have gone through a divorce in Virginia know that dealing with financial challenges can be overwhelming. While men can experience financial difficulties after a divorce, women are more likely to experience a decrease in income and live below the poverty line.
Many happily married Virginia couples would feel uncomfortable asking their spouse for a divorce in order to save some money. However, there are some who are considering a divorce on paper in order to save money, especially high-earning couples who want to avoid the so-called "marriage penalty." This applies to couples who file their taxes jointly and have taxable income in the 37% tax bracket.
Estranged Virginia spouses who are seeking a divorce may be interested in retaining their marital homes. In some cases, this is done by buying out the other spouse. There are many different factors that need to be considered when determining how much a buyout could be worth. For instance, it is important to figure out how much equity is in the home. Equity is the value of the home after subtracting the balance owed on a mortgage.
While there is no way to look at a marriage and accurately predict whether or not the union will last, relationship experts, divorce attorneys and psychologists have combined their knowledge to make a list of potential bad habits that a couple may not be able to overcome. Virginia residents might like to know about traits often found in relationships that do not last.
Virginia couples who are considering ending their marriages may be doing it because they are not emotionally fulfilled. According to a survey of 2,371 divorced people, psychological and emotional reasons may have replaced reasons such as addiction or violence as the main causes.