For wealthy Virginia residents, divorce can be more complicated All marital property must be divided between the spouses and this can become an issue in an ongoing divorce proceeding. Most spouses who are going through a divorce consult an experienced divorce attorney who can help the spouse try to reach an amicable settlement with the other spouse and their attorney.
Many attorneys suggest a prenuptial agreement in the event that one of the spouses accumulated a large amount of wealth prior to the marriage. That wealth might have been inherited property or self-acquired wealth and assets. It is especially relevant when it comes to older people. Many senior citizens are getting divorced nowadays as well.
Such "silver divorces" can be very expensive for both spouses because the spouses might have accumulated a large amount of assets, such as houses, cash and bonds along with retirement benefits during the their marriage. A prenuptial agreement can document the various terms and conditions that may apply in the event of the divorce. Such an agreement may help not only the spouse but it may also help any children who the spouses have from previous relationships.
Many divorcing couples choose to go through mediation in order to settle the financial matters. In mediation a neutral third party has the authority to negotiate with the spouses and their attorneys, together or separately. Mediation often helps the negotiation process and allows the couple to come up with an amicable settlement. People who are going through a high asset divorce often wish to keep their settlement private and away from the media glare. Such mediation proceedings can also help to keep things private.
Source: NewsLeader.com, "Who gets the assets in a county courthouse divorce?" Patricia Borns, July 17, 2015