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What Assets Are Untouchable in a Divorce?
/by Tim OlmsteadDivorce can bring up a lot of questions about how assets will be divided. It’s helpful to know that not everything you own will be split up. Some assets are considered untouchable, meaning they stay with the person who originally owned them. Knowing which assets fall into this category can give you peace of mind. […]
How to Start Over After Divorce with No Money
/by Tim OlmsteadUnderstanding your financial situation after a divorce is essential for rebuilding your life. This may be one of the hardest things you ever go through, but because of that, it may end up being one of the most rewarding. By starting completely over, you have a chance to decide what you want your life to […]
Protecting Family Businesses During a Virginia Divorce
/by Olmstead & Olmstead, PCDivorce can be a particularly tough experience when a family business is at stake. In Virginia, many family-owned businesses play a key role in a family’s financial health and future. When a couple decides to end their marriage, figuring out what happens to the business becomes an important part of the legal process. Protecting these […]
Unique Child Support Issues for Special Needs Children in Virginia
/by Olmstead & Olmstead, PCRaising a child with special needs requires more support than raising a typical child. In Virginia, child support for special needs children takes into account the extra care and financial resources needed. This means that the legal system looks at various factors to ensure that these children get the care they deserve. Parents may need […]
How is Alimony Decided in a Virginia Divorce?
/by Tim OlmsteadWhen a couple in Virginia divorces, alimony might become a key issue. Also known as spousal support, alimony involves financial payments from one spouse to the other after a marriage ends. Its main goal is to help the receiving spouse maintain a lifestyle similar to what they had during the marriage. Whether you believe you […]
What Year of Marriage is Most Common for a Divorce?
/by Tim OlmsteadAlthough divorce rates have slowly decreased over the years, it’s still common in the United States. While divorce can occur at any point in a marriage, certain stages of life lend themselves to divorce more than others. Knowing this can help you take steps to protect your marriage or understand the reasons for your divorce. […]
What Not to Do in a High-Asset Divorce
/by Olmstead & Olmstead, PCNavigating a high-asset divorce is a daunting process, fraught with emotional and financial complexities. The stakes are undeniably high, with significant assets on the line, ranging from property and investments to businesses and retirement funds. While it’s natural to feel overwhelmed, making uninformed decisions could have lasting consequences on your financial future. Looking for professional […]
Who Gets to Keep the House in a Virginia Divorce?
/by Olmstead & Olmstead, PCWorking through the complexities of a divorce can be challenging, especially when it comes to deciding who gets to keep the house. In Virginia, divorce proceedings follow specific legal guidelines to determine the division of property, including the family home. This process can be emotionally taxing, but understanding the basic principles can provide some clarity. […]
Should You Postpone Your Divorce Until After the New Year?
/by Olmstead & Olmstead, P.C.The decision to end a marriage is never easy, and the timing of such a significant life change can be even more challenging to navigate. As the year draws to a close, many people wonder if it’s wise to postpone their divorce proceedings until after the New Year. While each situation is unique, several factors […]
Navigating the Challenges of a Gray Divorce
/by Olmstead & Olmstead, PCDivorce can be a challenging and emotional journey for anyone. However, when couples over the age of 50 decide to part ways, they encounter a unique set of circumstances known as a gray divorce. As this trend becomes more prevalent, understanding the specific challenges and implications of a gray divorce is essential for those navigating […]