Preparing for divorce means addressing a variety of personal and financial issues. Almost all couples have to address property division matters. They must either settle with one another or prepare to take the disagreement they have to family court.
Settling is often preferable, as spouses who reach their own asset division terms don’t have to worry about how a judge perceives their situation. Some people have a hard time compromising during property division negotiations because they have unrealistic expectations. They may not understand how a judge addresses property division during litigated or contested divorces.
Those with at least a basic understanding of state statutes can approach negotiation from a more empowered standpoint. How do family law judges divide the marital estate in a litigated Virginia divorce?
Judges want a fair outcome
Whenever judges must settle family law disputes during divorce proceedings, they must apply prior judicial precedents and state statutes. In Virginia, the law requires an equitable or fair distribution of marital assets and debts. A judge must have a thorough inventory of assets and financial responsibilities to review.
They then learn about the marital relationship. The duration of the marriage, the health of the spouses, the separate property belonging to either spouse and even the earning potential of each spouse can influence what a judge believes is fair. They may also consider the standard of living during the marriage and custody arrangements for shared children.
Judges have the authority to award assets to either spouse. They can also make spouses responsible for specific debts or require the sale of marital assets.
Spouses have the option of taking control
People do not have to submit to the discretion of a family law judge during a divorce. While the judge’s approval is necessary, they do not have to make the decisions about how the spouses split home equity or who pays their credit card balances.
Every divorcing couple has the option of pursuing an uncontested divorce. Provided that they can reach a settlement that they both agree is appropriate, they can present the courts with an outline of their property settlement terms, which a judge can then convert to a property division order.
People who understand the basic rules that guide asset distribution during divorce can potentially recognize when settling might be a better option than litigating. They can also identify scenarios in which a spouse’s inflexibility makes litigation necessary for a fair outcome.
Learning more about property division rules and divorce proceedings can be beneficial for those preparing to file for divorce or who are responding to a spouse’s filing. The more people know about the process, the easier it can be to make informed decisions.