Q: Want to divorce spouse. all possessions, house, financials, etc are in both names., What is the best way to proceed?
Would like to proceed with divorce but would like to do this in such a way to be completely fair with the spouse and to make sure I can get the fair ruling for myself. We are retired; I'm 74 & she is 68. We both are on Social Security/Medicare & supplementals. No children are underage in the 40's.
A:
Good question. I appreciate your desire to be fair. There is a lot to think about here, but at a high level, you'll need to gather and then work through all assets and debts and determine who gets what. Hiring a lawyer is a good idea to make sure that you understand the legal implications of these decisions and how property division is handled in Virginia courts. And, if needed, a mediator can help facilitate agreement on issues between you and your spouse. Once you have worked through your assets and debts, a Property Settlement Agreement can be drawn up to memorialize the decisions. You will also want to decide specifically how the division is going to occur (taking names off of accounts, timeframes, etc.) Again, lawyers do this all the time and know how to write these agreements and will be able to advise you on details that often get missed.
Keep in mind that there may be other considerations based on your circumstances, such as spousal support. And, you may need some help dividing the property, such as drawing up a deed. So, a lawyer can be very helpful.
If you and your soon-to-be ex can come to an agreement on everything, then the actual divorce process goes pretty smoothly.
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