The process of dividing marital wealth is a central component within many divorce cases. In order to achieve a fair division of marital wealth, both spouses must fully disclose all of their assets, whether they are believed to be marital or separate property. Without comprehensive knowledge of the scope of assets, it is impossible to negotiate a property division settlement that is fair and within the guidelines of Virginia law. Unfortunately, many spouses seek to hide assets from their spouse, which violates laws regarding both divorce and taxation.
Many Virginia families are turning their attention toward planning their child's high school graduation celebrations. For those who have gone through a divorce, working out the scheduling while also addressing the child custody agreement can pose a challenge. Parents should recognize what an important time this is for their child and must make every effort to eliminate contention with each other and focus on acknowledging the accomplishments of their child.
The process of dividing marital wealth is never easy, and many couples fight over who will retain which assets once the marriage is dissolved. For some in Virginia, the family home is a significant source of contention. Many people feel deeply connected to their family home, and they want to hold on to the memories contained within even after the marriage has ended. Often, however, this is a property division nightmare for both sides.