Donna Dougherty Law P.C.

Property Division Archives

What are the next steps for retirement funds after divorce?

Getting divorced in Virginia can have a devastating effect on your retirement account, whether you end up splitting it with your ex-spouse or drawing it down to pay off divorce expenses. Even if your retirement funds have not evaporated before your eyes, the time span right after your divorce is a good time to reconsider your investments and plan for the future.

Three tips for protecting financial assets during divorce

Most divorcing couples in Virginia can expect equitable distribution of marital property. However, there are many steps both partners should take to protect their own finances and avoid long-term financial damages. Here are three tips to protect financial assets during divorce proceedings.

How do joint assets affect credit scores after divorce?

When it comes to divvying up joint accounts or coming to a financial agreement about joint payments during a divorce in Virginia, you may find yourself worrying about the effects this process will have on your credit score. You may face hefty expenses from the divorce proceedings, including alimony or child support, and you also need a way to finance yourself as you begin this new chapter in your life.

Financial Priorities During Gray Divorce

During the dissolution of a long-lasting marriage, Virginia baby boomers may find themselves facing an uncertain future as retirement and insurance plans are brought to the table for distribution. Here are a few important financial items seniors should consider in order to maintain health coverage and quality of life after divorce.

Pets and property division

Virginia residents put a lot of love, care and money into their pets, which bring joy to a healthy relationship. During a divorce, however, the issue of who gets to keep the pooch can be complicated and emotionally charged. 

Why is gray divorce so hard on women?

Are you a woman in Virginia over the age of 50 and getting divorced? Even if you are in your late 40s, you will want to take note about how a divorce may affect you financially. While divorce is seldom seen to have positive financial consequences for people, women at this stage of life may be particularly vulnerable to monetary problems after a divorce.

The impact of social media on property division

Social media assumes a whole new role when it comes to divorce. According to The Huffington Post, platforms like Facebook and Snapchat have generated a lot of suspicion between spouses, many of whom have regular arguments about photos, status and questionable activity. But the real question is how does social media affect divorce proceedings after a couple has separated?

Dividing artwork after a divorce can be tricky

Virginia is an equitable distribution state. Unlike practical assets like real estate or vehicles, however, artwork can be a tricky topic in divorce proceedings. According to the Seattle Times, for some people, it is all about the monetary value while for others it is about sentiment. This was evident in the divorce proceedings of one couple who held an art collection of 43 paintings. The husband wanted a collection he could hang on his wall while holding a net value that would help him in financial dealings.

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