Real estate financing markets roil with the slightest hint of news. Recently, even amid a strong economy, as reported in the Washington Post “the 30-year fixed-rate average [for mortgages] shot up to 3.73 percent.”1 This happened because the Federal Reserve nudged its rate higher. You may not be a financial wizard, but if you are divorcing in Virginia, you face ...
Under the Uniformed Services Former Spouses’ Protection Act, and as affirmed by a recent Supreme Court decision, Veterans Affairs (VA) disability benefits (separate from retirement income) are not subject to divisibility in a divorce. That is only one third of the question, however. Property division is not spousal support. Spousal support is not child support. Divorce & VA Benefits A ...
The common ferret is a remarkable animal. Ferrets are routinely used to hunt rabbits. Felicia Ferret1 cleaned pipes for Fermi Lab. A busyness of ferrets saved London's Millenium Concert2. Busyness — that's the collective noun. Felicia is one ferret; Felicia and all her ferret friends are a busyness. Ferrets are of little help, though, in ferreting out hidden assets during divorce. ...
Though not noted as the most approachable of companies, credit reporting bureaus do have a human side. Experian, for example, even has a "Dear Experian" advice column, which recently held forth on divorce and personal credit scores. You may be happy to hear that the reporting bureaus do not hold divorce itself against anyone; rather, the financial troubles brewing before, ...
Do you know your precise net worth? Probably not. After completing a financial affidavit, though, you will know how much you own, how much you owe, and how much you are worth. For good or bad, your soon-to-be-ex-wife will know all that, too. A financial affidavit is a legal tool used during discovery so the court overseeing your divorce has ...
Nobody can pass a tax law without creating victims and victors. The changes to our tax code brought about by the recent Tax Cuts and Jobs Act (TCJA) highlight this. Gone will be the deductions for spousal support payments by the payor (in Virginia, usually the man), and the recipients (in Virginia, usually the woman) will not have to declare ...
The full retirement age is increasing. That is not us talking; that is the Social Security Administration (SSA). Beginning with folks born in 1938 and continuing on through the baby boomers born in the psychedelic 1960s, full retirement age inches upward to 67. This matters because, whether you are paying or receiving spousal support payments, new laws could affect those payments when ...
Divorce in Virginia is generally a long process, beginning with a long period of separation (up to a year) and then continuing through the actual, often drawn-out divorce proceedings. During those many months, your children are still growing. Your son may have been a high school junior when you separated from your wife, but by the time your divorce is ...
If your wife happens to be an oral and maxillofacial surgeon, she should be working. She is in the category of the highest-paid jobs in Virginia, according to Zippia1. Perhaps she is not bringing in an average of $281,130 annually (yup — that is what Virginia’s oral and maxillofacial surgeons typically make, according to the Bureau of Labor Statistics2). Perhaps ...