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Property Division Archives

The basics of property division in a divorce

In a U.S. divorce, property and debts are divided according to either community property law or equitable distribution principles. Georgia, along with most states in the country, is an equitable distribution state, meaning that absent an agreement between the parties, assets and debts are divided in a manner that the court deems fair, but which may not be equal.

Prenuptial agreements on the rise

The number of couples using prenuptial agreements is growing, but since no one is required to report it and many people find the subject distasteful or embarrassing, the exact numbers are unknown. Prenuptial agreements carry a stigma and many people think that they are only for the rich who want to protect themselves from gold diggers. However, these marital agreements are a practical tool that could offer Georgia couples security and a chance to discuss important matters regarding finances and property division.

Dealing with the home during a divorce

For divorcing Georgia couples, even contemplating the intricate process of property division can prove to be exhausting. Depending on the number and type of assets, it may be a more straightforward process or an incredibly complex one. In many cases, dealing with the couple's home can be an extreme challenge. If the home is rented, the issue is less difficult, but if the couple owns a home together, division may prove to be difficult. Often, one spouse buys out the other's share. This can be done with a new mortgage or gift or personal funds. In some cases, it may be difficult to determine which spouse will get the house. If need be, a divorcing person can see a lawyer to ask for advice on whether buying out the house is wise.

Should you settle your divorce outside of court?

Divorce is not only the end of a relationship, but also the division of a legal and financial partnership. As such, it is imperative to protect your short- and long-term interests by obtaining a fair and appropriate division of marital property. This is easier for some couples than for others. Depending on the amount and complexity of assets a couple has acquired, the best process for property division may vary.

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