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Divorce Archives

Divorce and Social Security retirement benefits

Many Georgia entertainment fans may have heard that Ben Affleck and Jennifer Garner are planning on ending their marriage. According to many media outlets, the power couple have in excess of $150 million in assets. Sources suggest that the couple seems on track to divorce before their 10th wedding anniversary, which means that they will be forfeiting some benefits they could have claimed in the future. From a retirement standpoint, waiting until after their 10th wedding anniversary might make sense to couples who, unlike the two stars, may have to rely on Social Security benefits in the future .

Common financial issues to consider in a Georgia divorce

While ending a marriage is an emotional event for many couples, allowing emotions to cloud an individual's judgment could lead to major mistakes during divorce settlement negotiations. For instance, not putting everything into writing could cause one party to the divorce to renege on a verbal agreement. An example could be a parent failing to pass an asset to a child because he or she is under no legal obligation to do so.

A look at how social media use can affect marriage and divorce

Georgia spouses may be interested in one way that their online behavior may have consequences in their relationship. Surveys are showing that as social media increases in popularity, its effect on marriage is starting to become more obvious.

Social media and the service of process

Georgia residents may be interested to learn about two recent New York decisions in which courts allowed people to serve respondents in their family law matters via Facebook. While no Georgia court has yet allowed service in this manner, many attorneys and other observers expect that such service methods may become increasingly accepted in jurisdictions throughout the country.

Alimony's effect on personal income taxes

Georgia residents who are dealing with divorce may wish to learn more about how alimony can affect income taxes. According to the IRS, alimony is any money paid to a spouse or former spouse as part of a court order during divorce or separation. Any money that is paid without legal obligation is not considered to be alimony for tax purposes. Furthermore, it does not matter if the alimony is to be paid on a permanent basis or included in a temporary decree., and it may be possible to claim payments to a third party as alimony.

Claiming Social Security benefits after divorce in Georiga

In some cases, if a spouse hasn't worked long enough to claim their own benefits or if their spouse is entitled to greater benefits, they may want to claim their spouse's Social Security benefits. However, if a couple divorces, this may not always be possible. In some situations, however, there are exceptions.

Illness in wife could lead to divorce

Georgia residents might be interested to learn about a study examining the relationship between divorce and illness. Researchers at Iowa State University determined that couples with a seriously ill wife were more likely to get a divorce than couples with a seriously ill husband. However, no information was available about whether it was the husband or the wife who usually initiated the divorce.

Lower divorce rates among medical professionals, study shows

Georgia doctors, dentists, pharmacists and others working in the health care field may have lower divorce rates than the general public despite the stresses of the profession. This was the conclusion of a study that was recently published, and it will likely surprise many people who thought otherwise.

Limiting the cost of a divorce

Getting a divorce can be an expensive process in Georgia, but there are ways for individuals to keep the costs in line. Financial planners encourage those going through one to prepare for the divorce ahead of time by developing a better understanding of their assets, income, living expenses, and debts. Worksheets can be used to work through the process, and specialists can help in cases where there are family businesses or high-value assets.

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