The process of dividing marital property may be simple for some couples. However, more likely than not, there are bound to be hiccups along the way for most couples. If Virginia couples know what particular hiccups may slow down or create obstacles to a fair property division agreement ahead of time, that couple may be able to reach an agreement quicker or enlist the proper help to ensure a fair settlement.
One area of concern for some may be if there is a prenuptial agreement in place. There may also be additional legal agreements that need to be honored also. This can either make the process easier or create more issues if there is disagreement about the validity of such agreements. Some assets might not be included in an agreement and need to be dealt with outside of that agreement.
Claims of property being separate property instead of marital property can create an obstacle also. The history of certain assets and proof of when they were obtained may be necessary. As with assets, debts may be a sticking point for couples. Personal liabilities for the debt of the other spouse is a very real problem and can play a huge role in how a property division agreement unfolds and it can all affect future credit issues for both parties.
Once a couple knows where they stand in relation to assets and property division details that couple can begin to move forward. This may require outside help and concessions that may be unexpected as the process can get very complicated for some. Virginia couples who understand the process beforehand and who can rely on guidance from professionals have a much better chance of an agreeable and fair settlement once the process is complete.
Source: huffingtonpost.com, "A Few Questions to Consider in Divorce Property Division Situations", Brad Reid, June 29, 2015