Is it time to separate? That may be a strategic question and not just an emotional one. In Virginia, we classify separate property as anything that was earned, purchased, or acquired before the marriage or after the date of separation. (We also include anything you inherited in your sole name, anything that was a gift...
Post Separation Bonus
We talked the other day about debt when it is marital and how it is often divided in a divorce. But marital ASSETS are categorized as either separate or marital before they are divided – so what happens in the event that debt is separate? It’s a good question. Typically, separate property is anything that...
If you have a trust fund or received an inheritance – whether before, during, or after your marriage – one of your big concerns when it comes to separation and divorce is probably how to adequately protect that asset. For many families, divorce marks a major turning point in their lives, especially as it relates...
In Virginia, we have three separate classifications for property: separate, marital, and hybrid. How property is classified impacts how it will be divided in a divorce. Marital and separate property are clear; what is marital is divided in the divorce, and what is separate belongs to the party who separately owns it. Hybrid property, on...
As much as we often try to keep things amicable in a divorce or custody case, there are some things that are fairly well established hard and fast rules. Dividing the retirement, for example, and how to handle division of equity in the home – easy peasy. Some of the more complicated issues are usually...
In most cases, my clients have been with their husband for a number of years, accumulating a number of possessions – both consequential and inconsequential. Though we don’t often spend much time dividing the sheets and bath towels, other things, especially big ticket items like houses and cars, do occupy a fair amount of time...
A friend sent me a message the other day about divorce to ask me about her divorce. It happens all the time! She had gotten an inheritance from her grandmother, she said, and used it to buy a car and a trailer, but that her soon to be ex was keeping it hostage and she...
Lots of people are, at some point or another, the beneficiary of some kind of inheritance. For many of us, it’s not significant monetarily, but, for others, it is. In fact, for some people, it’s a tremendous amount. An inheritance can be life changing. I’ve had clients who live in a home that they inherited,...