Some couples go into a divorce with a large number of investments. What happens with such assets in a divorce can have major long-term impacts.
Often, investments fall under the category of marital property in a divorce. Most assets couples acquire during their marriage are in this property category.
Now, there are certain exceptions that could cause investments to instead be separate property. One example is such an asset being designated as separate property in a prenup.
In Virginia divorces, marital property is subject to division. Separate property, meanwhile, generally is not. So, whether or not the investments a couple is going into a divorce with are marital or separate assets is a very impactful matter. Skilled divorce lawyers can help people with determining which of their investments and other assets would likely be deemed marital property and which might be deemed separate property.
There are many different ways that marital property can be divided in a divorce. The various pieces of a couple’s investment portfolio can very quiet a bit in their characteristics and value. So, how such a portfolio is divided in such a divorce can have major impacts on both spouses’ long-term financial goals. Divorce attorneys can assist people with tailoring their approach to investment division matters and other property division issues to the protection of their particular long-term goals and interests.
Another thing that can have big impacts on a divorcing person is what he or she ends up doing with investments. For example, liquidating investments to help with everyday expenses after a split can be tempting, but could have unintended long-term effects. So, when deciding how to use investments after a divorce, thinking about long-term goals can be critical.