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Property Division Archives

Common signs that your spouse is hiding assets

If you are going through a divorce and splitting everything from your bank account to time with your children down the middle, it is important that you are aware of all the joint marital property and who has access to it.

Does a spouse have claim to an inheritance in divorce?

Most people say the worst part of getting a divorce is dividing assets and debts. Because of heightened emotions and hurt feelings, most people are typically worried about how much their spouse will get and whether they are getting a fair deal or not.

Man sells property during divorce proceedings, keeps money

In Georgia and other states, divorcing spouses are generally expected to refrain from selling property or other assets until the divorce proceedings are over. However, a divorcing husband sold a Brooklyn property, and on Sept. 10, he urged the New York Court of Appeals to not hold him in contempt of court for refusing to say where he put the money.

Legal representation for property division disputes

When two people in Georgia are married, their financial lives are inevitably intertwined. If they subsequently divorce, all of the marital assets that belong to both spouses must be divided in a way that the court deems equitable. Although a court will do its best to divide property in a manner that it deems fair, there is a lot that could go wrong, and it is crucial for a spouse to have legal representation during this time.

Artworks and art supplies may be divided during a divorce

Georgia residents who are artists may be surprised to learn that any pieces they have, whether in storage, hanging on a wall or on consignment in a gallery, are considered marital property and are eligible for property division during a divorce. Additionally, any tools they used to create their art may also fall into this category, similar to the way that copyrights are also considered to be joint property held by both individuals.

Credit, debt and division of assets in divorce

Couples in Georgia who are divorcing often need to work out issues regarding the division of their assets and debts, and they may also need to consider how this will affect their credit reports. Individuals should make certain that they close any joint accounts shared with ex-spouses because they may still be held responsible for those accounts. They should also remove authorized users from individual accounts since the owners of those accounts are liable for the debt.

Divorce battles more frequently include pets

Georgia families may recognize that custody can be a serious issue during a divorce, and pet custody is becoming a common issue for those facing divorce across the country. As battles reach the court room, many are recognizing that a pet is an important part of a family, in some cases filling a gap for a couple without children. This makes the handling of a pet somewhat different than deciding who will receive furnishings and other marital assets.

Dividing a house during a divorce

Georgia property owners who are going through a divorce may wonder how the property will be divided between the two former partners. Even if one spouse is award a house that was owned jointly in the divorce decree, both names will still be on the loan unless the owner files for a new mortgage. The mortgage will still show up on the credit report of both people despite the decree of divorce. If one person's name is on the loan, creditors can sue that person because they still have a contract with them, even if the divorce decree states that the other person is keeping the home and taking on the debt.

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