Virginia Family Law Blog

Are child support payments fixed for life?

On behalf of Russell W. Ray, PLLC posted in child support on Friday, May 17, 2019.

In Virginia, the amount of money due in child support is determined on a case-by-case basis. However, the initial court decision may no longer be valid if the unique circumstances that led to it change. Russell W. Ray, PLLC, is here to discuss the situations in which child support payment amounts can be altered.

Child support payments are never a permanent thing due to the sheer number of deciding factors that lead to it. A judge can either decrease or increase support payments based on large changes that occur in either your own circumstances, or those of your ex-partner. Some examples of common changes that result in child support payment shifts can include promotions or raises, expensive medical bills, job loss, or the changing needs of a child.

Making sure child support payments work for you

On behalf of Russell W. Ray, PLLC posted in child support on Friday, May 3, 2019.

Divorcing couples with children often quickly realize that almost every aspect of their childrens' lives require some amount of consideration. Your planning process has the potential to be overwhelming, even with attempts by legislators to simplify child support through standardization of payment calculation. Nevertheless, focusing on some of the major points could reduce conflict in the future, speed the process and safeguard the emotional well-being of everyone involved. We are ready to advise with considered, case-by-case analysis here at the Virginia office of Russell W. Ray, PLLC.

Planning for the future is often not about the minutiae of day-to-day concerns, but rather about the responsibilities you and your co-parent have regarding parenting time, financial resources and education. Following are a few of the major points in these categories.

Do you need a forensic accountant on your divorce team?

On behalf of Russell W. Ray, PLLC posted in property division on Thursday, April 18, 2019.

These days, many people embroiled in divorces across Virginia have complex financial situations that can make the process of property division prove difficult. For this reason, many state residents are increasingly relying on forensic accountants who can help them navigate financial matters relating to their splits. Just what role can a forensic accountant play in modern divorce, and should you consider adding one to your divorce team?

According to Forbes, forensic accountants are accounting professionals who can help you work through various financial matters surrounding your divorce so you can make sure you are getting your fair share. Often, one party in a marriage chooses to hire a forensic accountant because he or she has concerns about the other party concealing assets or income information. If you, for example, feel as if your ex makes far more money than he or she is revealing, a forensic accountant may be able to help you find out exactly how much income he or she is actually taking in.

The challenges of a high-asset divorce

On behalf of Russell W. Ray, PLLC posted in property division on Thursday, April 4, 2019.

Possessing and retaining wealth can be challenging. This is particularly true when dealing with a divorce.

Division of property during a divorce can involve real estate, 401Ks, and global assets. Coming to a fair settlement may involve self-employment income calculations. And such a division will ultimately involve tax ramifications for both parties.

How do courts determine the amount of spousal support to award?

On behalf of Russell W. Ray, PLLC on Tuesday, March 26, 2019.

Many common concerns during divorce are over spousal support. Some people worry they will have to pay it, while others worry they will not receive it. Spousal support, sometimes called alimony, is a payment or series of payments made from one former spouse to another. The purpose of this payment is to balance any unfair economic effects caused by the divorce.

Historically, spousal support involved a husband making payments to a wife who worked in the home and had limited means to support herself after the divorce. Today, either a man or a woman can be required to make spousal support payments if he or she is the higher-wage-earner. However, spousal support is not a factor in all divorces.