Divorce involves many complications, but one of the most prominent tends to be financial issues. Having a firmer grasp of the financial concerns that are common to divorce can help you move forward with increased confidence and purpose. If you’re facing a divorce, don’t wait to consult with an experienced Virginia divorce attorney today.
One of the most consequential financial components of any divorce is the division of marital property. All of the following apply:
Ascertaining what your marital assets are – in and of itself – can be extremely complicated (and can be made more so if your divorcing spouse engages in hiding assets or other less-than-honest practices).
Alimony (also called spousal support) is another important financial component of some divorces. Alimony is the court’s way of addressing financial imbalances between divorcing spouses. If, for example, you face a financial downturn (relative to your lifestyle during your marriage) and your ex has the financial means to help cover this financial discrepancy, you could be awarded alimony.
Alimony tends to be a temporary fix that is intended to help the spouse with a financial need to become more financially stable. All of the following factors can affect whether alimony will play a role in your divorce, and if so, its amount and duration:
The financial concerns that are common to divorce are extensive, but the resourceful Virginia divorce attorneys at Mahoney & Richmond, PLLC, are well versed at skillfully protecting the financial rights of clients like you. We’re here to help, so please don’t hesitate to contact us for more information today.