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Dividing Digital Assets in a Virginia Divorce
/by Tim OlmsteadFor generations, divorce involved dividing familiar assets: the house, cars, bank accounts, retirement funds. While those remain central, the 21st century presents a new frontier in property division – digital assets. From cryptocurrencies and NFTs to online businesses and reward points, these intangible holdings represent real value and require careful consideration during a divorce. Their […]
Crafting Prenuptial Agreements for Blended Families
/by Tim OlmsteadPrenuptial agreements in Virginia are legal contracts created before marriage that define financial rights and responsibilities in the event of divorce or death. Prenups are especially important for blended families in Virginia due to the complexities involved in merging finances and family obligations. Without a prenup, Virginia’s default laws may not align with the couple’s […]
Frequently Asked Questions: Divorce Lawsuit Settlements
/by Tim OlmsteadThe Impact of Remarriage on Alimony Obligations in Virginia
/by Tim OlmsteadSpousal support is money one ex-spouse pays to the other after a divorce. The goal is to help the person receiving the payments maintain a similar lifestyle to what they had during the marriage. But when life changes like getting remarried come into play, it can change the paying party’s legal obligations. Wondering if remarriage […]
The Emotional and Legal Impact of a Gray Divorce in Virginia
/by Tim OlmsteadGray divorce: in recent years, more couples over 50 are deciding to end their marriages. This trend is known as “gray divorce.” Gray divorce is becoming more common in Virginia and other states. Gray divorce brings a wide range of unique challenges, and if you’ve found yourself in this position, it’s important to be prepared. […]
Who is Responsible for Medical Bills in a Divorce?
/by Olmstead & Olmstead, PCDivorce brings more than its fair share of emotional and financial challenges. Unfortunately, there’s not just one financial matter to work through. Every turn comes with a new set of financial questions, disclosures, and decisions. One of the topics that is likely to come up is the division of medical bills in a divorce. Worried […]
What is Divorce from Bed and Board in Virginia?
/by Olmstead & Olmstead, PCDivorce from bed and board is a type of separation in Virginia that allows couples to live separately without ending their marriage completely. It’s relatively uncommon but can be useful for couples who don’t want to fully dissolve their marriage—usually for personal or religious reasons. Wondering if this type of divorce might be the right […]
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 […]