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 ...
Almost nobody plays Monopoly by the printed rules. A genuine game of Monopoly takes approximately eleventy-seven hours, so most people make up their own ways to play so that, if they started at sunup, they stand a reasonable chance to finish by supper time. By Monopoly’s printed rules, the Banker is supposed to hold an auction for any property a ...
You may argue the political disingenuousness of the name of the recently passed tax law, “Tax Cuts and Jobs Act,” depending on whether or not you are an American receiving either meaningful tax cuts and/or an improved job. Pushing aside the benefits you may or may not see from the law that was passed, locked within the Act’s broadly sweeping ...
Divorce in Virginia can take many months, or even more than a year. First comes separation, which itself must be six months (no kids) or a year (with kids), and then the divorce itself. During that time, are you supposed to essentially freeze all your activities? Stop shopping, pay cash for everything, live with an old clunker — what are ...
Virginia is one of the wealthiest states in America, according to U.S. News & World Report1. With median annual income of $66,262, the state enjoys a prime perch among the Top 10, at #8. Median income is far more important a measure than average income, since it represents the exact middle of earners; half earn less, half earn more. Many ...