In a divorce, we divide marital property. What constitutes marital property can vary from state to state, so you should familiarize yourself with the laws in your particular state – or Commonwealth, as in the case of Virginia, where I practice. Though I imagine that the words may vary but the specific application is similar...
Marital and Hybrid Property in Virginia Divorce
The worst cases are the ones where there’s really nothing to divide but debt. It’s not that it’s hard; in fact, it’s no harder to divide debt than it is to divide most other assets (and it’s easier than some, like 401(k)s). It’s mostly that, at the end of the day, absolutely no one is...
Debt is challenging under the best of circumstances, but when you’re considering a legal separation or a divorce, it can be a particularly challenging extra layer of complication. On its face, dividing debt is the same as dividing assets – in most cases, we look to the source of the debt, classify it as...
Even though a lot of things are sent electronically these days, there are still things that come through the mail. Especially if you’re considering a divorce, you’re probably starting to grow concerned about your documents – credit card bills, retirement account statements, mortgage interest statements, communications from the IRS, etc – that may come...