Northern Virginia Family Law Attorney Focuses on Prenuptial Agreements

Arlington, Virginia Divorce Law Firm Will Protect Your Interests

Virginia is an equitable distribution state, meaning that in the event of a divorce, property and debts will be divided in a “fair and equitable manner.”

Separate debts – debts incurred before a marriage – are separate debts and belong to only one spouse and will not be divided. Education loans incurred before marriage are separate debts, but such loans incurred during the marriage may be considered marital debt. When dividing student loan debt during divorce, the key question is not who incurred the debt, but who benefitted from it.

If the student loan was for tuition, school fees, books, etc., in pursuit of a degree earned by one spouse, it will likely be considered the separate debt of that spouse. But if, as often happens, the money borrowed was used toward living expenses or other costs, it will more likely be considered marital debt from which both spouses benefitted.

Prenuptial Agreements and School Loan Debt

One of the benefits of a prenuptial agreement is that separate property can be prevented from being accidentally re-classified as joint property in a divorce, either due to co-mingling or because the payments were made out of joint funding sources.

If one spouse has a large amount of college loan debt, a prenuptial agreement can keep such debt separate, although both spouses must agree to have the student loan classified as a separate debt, making only one spouse liable for that debt in the event of a divorce.

Contact an Experienced Virginia Family Law Attorney Today

Virginia family law attorney Claudia Zucker has over two decades of experience dealing with divorce issues, including prenuptial agreements and college loan debt. Contact the Law Offices of Claudia Zucker online or call (703) 596-1005 to schedule your initial consultation today.