Estimated Reading Time: 4 Minutes 20 seconds
In a Virginia Divorce, Judges Only Divide Marital Assets Acquired Before Separation
In a Virginia divorce, you must live separate and apart for either 12 months (with kids) or 6 months (without kids) in order to file a no- fault divorce.

Estimated Reading Time: 3 Minutes 40 seconds
Contemplating divorce and unsure how to proceed? It's only natural to feel nervous about finding the right way to end a marriage- which is always a stressful time with lots of uncertainties. If you have decided that staying out of the fray of negative, time-consuming, and often cost prohibitive litigation is the right choice for you, you will likely be on the hunt for a good divorce mediator.

Estimated Reading Time: 8 Minutes 50 seconds
Starting Jan 1, 2019, the long-standing tax rules associated with alimony have significantly changed, and alimony is no longer tax deductible by the payer; nor is it taxable to the receiver. The new law, however, does not apply retroactively.

Estimated Reading Time: 8 Minutes 30 seconds
A Marital Settlement Agreement and MSA is a contract between a married couple that sets out the terms of how they will move forward in their lives, both during their separation and after divorce. A signed PSA will be the biggest part of your divorce.

When valuing a small or family-owned business in a Virginia divorce, parties need to be aware of the concept of “goodwill.” Goodwill is divided into two main types: personal goodwill and professional goodwill. Though sometimes hard to tease apart, once a judge determines how much of each type of goodwill is contributing to the value of a divorcing-spouse’s business, that ruling can be monumental to the financial well-being of the husband and wife.

Settling a divorce case in Virginia, where one of the parties owns a business, can be extremely challenging. Businesses are considered “property” and, just like a house or a retirement fund, are divisible upon divorce. Therefore, in a mediated divorce settlement, the value of a family business must usually be quantified in order for both parties to make informed decisions with regard to which party retains which asset/liability post-divorce.

The Internal Revenue Code has changed as of December 22, 2017. For up-to-date information about child related tax benefits, see this video. 

When a couple with children divorces, they need to consider how college expenses will now be planned. Will their original thinking about paying for college look different? Yes. Here are questions they need to consider:

Are you willing to change your lifestyle --even more than a divorce normally alters lifestyle -- in order to continue with your original thinking on paying for college? This may mean less alimony/part-time job/smaller house so that money can continue to be put away for college.