Divorce and custody cases aren’t like personal injury cases. At the end of the day, all you have to divide is what was already there to begin with – so, most of the time, people wind up with less than they had before. I mean, if you think about it, it makes sense. If you sell your house, split the proceeds, and then buy two separate residences, there’s expense there. Two mortgages, two sets of utility bills, and so on. So, when it comes to thinking about how to handle your divorce, it’s wise to … [Read more...]
Dividing Retirement in Divorce
There’s a common misconception that, without exception, after divorce each spouse will walk away with 50% of the retirement accounts. The reality is just a teensy bit more complicated than that. You should definitely know, ahead of time, what your marital share of the retirement accounts will look like. First, let’s take a look at the formula… Here’s what it looks like: Number of years employed during the marriage ________________________________________ x 50% = marital share Total number … [Read more...]
What to expect in a Virginia military divorce
On Monday, we talked about the differences between military and civilian divorce. So far, we’ve mostly discussed the ways that military and civilian divorces are similar. (Shocking, right?) Well, as you already know, military and civilian divorce are a little bit different. Procedurally, they’re very similar, but there are certain assets that exist in military cases that have to be divided. Not only that, but, depending on the circumstances, there are different statuses that apply in military … [Read more...]
