Finances

Military Divorce FAQ: GI Bill Transfer & Divorce

The original G.I. Joe doll — sorry, action figure — came on the scene in 1964, and has been a hit ever since. G.I. Joe is immortal, but real GIs not only leave the service, they go on to other, great things, like college. The Post-9/11 GI Bill is an enormously valuable asset earned through military service. The benefits from ...

By |August 2nd, 2017|

The Ultimate Divorce Settlement Checklist

A property settlement agreement or separation agreement in a Virginia divorce is like the world’s weirdest grocery list. It will have a lot of details on it, in odd juxtaposition, and not a single item can be left out or you will certainly regret it later. In a moment of inspiration, we put together this convenient checklist while picking up ...

By |July 19th, 2017|

Who is Responsible for the Mortgage during a Separation?

In 1935 you could mortgage the Boardwalk for $200. The Monopoly property, not Virginia Beach’s. That $200 was the highest on the board, with classy Park Place coming in at only $175. (Poor Baltic Avenue; it was only worth $30.) If you seek a Virginia legal separation today, who covers the mortgage? And can you pay with Monopoly money? (Umm ...

By |July 14th, 2017|

What is Imputation of Income?

Wouldn’t we all like to not have to work? While for most of us that is a daydream, for some women it is a conscious strategy in a divorce. The “logic” your ex-wife uses is, with no visible income, she will require you to provide spousal support, so that she (and potentially your children) can continue to live as they ...

By |July 10th, 2017|

Is Child Support a Tax Deduction?

The tax consequences of separation and divorce tend to sneak up on men and surprise them, roughly around the middle of April each year. While you spend nearly 50 weeks trying to put the inconvenience, mental anguish and emotional upheaval out of your mind, for around two weeks every April Virginia’s local and state governments (and the federal government) like ...

By |June 28th, 2017|

The Digital World & Divorce: Your Digital Presence During a Split

Who owns the digital version of you? We have become so accustomed to our digital world of social media, emails, instant messages, and photos of cats that we seldom consider who owns all that information. With the U.S. House of Representatives voting to undermine internet privacy1, this is no longer an academic question. When in the process of a divorce ...

By |June 26th, 2017|

Inheritance & Divorce: Can My Wife Take My Inheritance?

Divorce is fraught with every kind of emotion, but one of the major highlights is financial terror. What was once yours, is now ours, and future possession is up for debate.  You may be asking, what about the inheritance I got from my grandparents? Or, the summer cottage that has been in my family for years? Along with 40 other ...

By |June 12th, 2017|

Is Your 401(k) Up for Grabs in a Divorce?

You count on your 401(k). It's your retirement, your nest egg. You've been saving for years, and you invest the max amount whenever you get the chance. Your finances are in good shape, but your marriage is not. You and your wife have been fighting for months. Your relationship is beyond repair. Filing for divorce is imminent. Your wife is ready to move on ...

By |June 2nd, 2017|

Should I Ask My Fiancée to Sign a Prenuptial Agreement?

Talk to any teenager today and you need a dictionary of slang to understand. Words that start off as polysyllabic suddenly truncate to words indistinguishable from grunts. Bae means “baby;” woke stands in for “stay alert and aware;” a thing that is lit is really wonderful. So from the same search for brevity we get fam for family and prenup ...

By |May 22nd, 2017|
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