Virginia Property Settlement Agreements

Virginia property settlement agreements, also know as separation agreements, are contracts that clearly spell out the rights and responsibilities of each party after the divorce.

For couples who are separating under amicable conditions, a property settlement agreement may be an ideal situation to work out the details of a Virginia divorce. In a property settlement agreement both parties must agree to ALL of the conditions, duties, and obligations listed on the final document. They only work if both parties are open to communication and compromise.

Property settlement agreements can cover:

• Division of property
• Spousal Support
• Child custody, visitation, and child support (although the final decision is at the court's discretion)
• Medical Insurance
• Personal property (furniture and belongings)
• Pensions, retirement, and/or 401K plans
• Other issues involving martial property or assets

 
The wording and provisions of the property settlement agreement are final if it is approved by the Virginia courts, so it is imperative that you do not waive any rights to future support or property that may negatively affect you or leave you in debt. For this reason it is highly recommended that you work with or consult an experienced Virginia divorce lawyer to help you draft your property settlement agreement.

For more information about the basic elements of a Virginia divorce, visit our library. 

The Virginia divorce attorneys at Hofheimer/Ferrebee represent Virginia women who wish to file for divorce. We are committed to fighting for your rights, assisting in child custody disputes, and ensuring that you receive everything you are entitled to and need in order to start your new life. Contact us to schedule your legal consultation today - (757) 425-5200.