Explaining Virginia Marital Settlements

A Virginia Marital Settlement Agreement is a document allowing a married couple to settle affairs relating to their divorce or dissolution of marriage. The spouses, for instance, can determine how their shared property and assets will be dispersed upon the divorce, and it can be utilized to dictate if one spouse must pay support (child or spousal/alimony) to the other.

In this video, we go into detail about:
- How a marital/divorce settlement agreement works and its essential functions;
- The importance of a formal, written settlement agreement;
- Legal divorce requirements in Virginia; and
- Where to get an official template!

Both spouses can accelerate the divorce proceedings by completing this document and presenting it in court. Note that both spouses must consent to the agreement, which is easier said than done in some instances. Nevertheless, the couple can reach a mutually beneficial compromise through open negotiations. When doing so, they stand to save money that would otherwise be spent on a costly divorce attorney.

Remember that “equitable distribution” may be avoided by completing a settlement outside the court system. (See video for more information on such equitable dispersion.) But even then, a judge may reject the couple’s agreement if it’s deemed unfair or unjust to one party. In such cases, the judge can request that the spouses amend the contract or make specific changes to a contract section.

For more information about Virginia marital settlement agreements, their functions, and some key legal requirements, watch our video -- and then head to the link above for an official template!

Virginia Marital Settlement Laws: Title 20, Chapter 6

DISCLAIMER: This video is strictly for educational purposes and is in no way intended to provide legal advice. We do not make any warranties about the completeness, reliability, and accuracy of this information. Any action you take upon the information on this video is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of our videos.

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0:00 Intro:
0:30 We'll Discuss:
0:41 What Is A Marital Settlement Agreement:
1:56 Legal Requirements In This State:

[RECIPROCITY]

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