During marital dissolution, the property division process can be amongst the most contentious. There's good reason for this conflict, too. After all, the outcome of property division sets the stage for each individual's post-divorce financial situation. Therefore, those who neglect to aggressively pursue an outcome that furthers their best interests may wind up being taken advantage of.
The initial impact divorce is usually emotional in nature. Oftentimes the parties feel hurt and sad that they no longer care for each other as much as they once did. As tough as it can be to deal with these emotions, Virginians who are going through the divorce process must think about more than just their heartache. They also must consider how their divorce will affect their financial well-being, and plan accordingly.
The property division process that must be undertaken when divorce is sought can be cumbersome and hotly contested. The parties to a marriage can find themselves vying over bank accounts, retirement portfolios, pensions, personal property and even the family home. Yet, many Virginians have another asset that must be dealt with during the property division process: a business.
While divorce is certainly an emotional event, it is also a major financial one. Individuals may be on the receiving or paying end of child support and alimony, and property division can set the stage for one's post-divorce financial standing. This is why Virginians need to understand the law as it pertains to these family law matters. Only by doing so can they better ensure that they negotiate and argue for resolutions that further their financial interests.
Divorce can be an emotionally and financially taxing process. It can leave individuals angry and fearful for their future. This can force people to aggressively pursue the things that are important to them, whether that be child support, child custody or certain assets during the property division process. As contentious as these matters can be, a number of them can be avoided even before the issues arise.