Kenneth C. Griffin, the billionaire hedge fund manager, made headlines and may have caught the interest of Georgia couples when he decided to divorce his wife, Anne, to whom he has been married for 11 years. On Sept. 2, she filed documents in Cook County, Illinois, that formally requested she be allowed to move to New York and take sole custody of their children. According to court documents, she asserts that their prenuptial agreement, which she signed on the day before their wedding in July 2003, should be voided because she was pressured into agreeing to it under stressful circumstances.
Georgia spouses who would like to have an amicable divorce may decide to pursue mediation. Litigation is not always the answer for individuals, especially if they may be able to reach a mutual decision that is in the best interest for both of them. Mediation may help couples negotiate their divorce.
Divorcing Georgia couples dividing up their financial assets may be able to learn from the experience of Hollywood actor Terrence Howard. Howard and his ex-wife are divorced, but he has told the court he cannot afford to pay her the $325,000 in spousal support stipulated in the divorce settlement. The reason, he said, is that all of the income he makes from his movies goes directly to his first wife to pay spousal and child support. After taking out the money, she then writes him a check, leaving him with less than $6,000 a month.
Movie fans in Georgia and elsewhere in America may be familiar with filmmaker Michael Moore and his highly publicized divorce. Moore recently ended his marriage of over two decades with wife Kathy Glynn; the settlement was finalized on July 22.
Having the right strategy for property division at the end of a marriage could significantly improve an individual's financial security as a divorcee. People going through the divorce process, especially those 50 and older, may want to consider any retirement assets of a spouse during negotiations. In Georgia and most states, marital property is divided equitably in a divorce by a judge who presides over the settlement agreement according to the National Endowment for Financial Education.
In Georgia and elsewhere, a contested divorce can easily become a complex wrangle of financial disputes, and these cases get even more complicated when legal fees are at issue. This was the case in California, where the principle asset owned by a divorcing husband and wife happened to be a major league baseball team. The couple finally managed to reach a settlement but found themselves back in court when the ex-wife contested the agreement.
Divorcing couples in Georgia already have a lot to deal with emotionally, but remembering a few tips early on could reduce stress and eliminate headaches later. Ending a marriage can put both parties in a different tax bracket, and preparing for that as soon as possible can help avoid a shock at tax time. The preparation process can include making decisions on joint debts and assets, how employment income could affect alimony payments, and child custody issues.
There may be no more difficult experience for a parent than a child custody battle. Facing the prospect of losing time with one's child can be incredibly emotional, frustrating and confusing. Many Georgia residents may be aware that one of the co-hosts of the popular daytime television show "The View" is currently in the midst of not one but two custody disputes.
Infidelity is a common cause of divorce. If you or your spouse has decided to end your marriage due to cheating, you might be wondering how adultery affects the divorce process in Georgia. You may have heard, for example, that Liberty Ross and Rupert Sanders recently settled their divorce and Ross walked away with "guilt money."
Many people in Georgia put off divorce because they are worried about the effect it will have on their children. The truth is that divorce does affect children--whether they are young or whether they are all grown up. However, being sensitive to children's emotions and offering them the support they need is often the key to parenting well during divorce. Unfortunately, many parents are engulfed by the stress and trauma of divorce themselves, and their children's needs wind up on the back burner.