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Posts tagged "property division"

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.

Understanding the current divorce rate

Residents in Georgia may be surprised to hear that the national divorce statistics may not be on the rapid increase that have many grown to expect. Despite widespread public perception, recent studies suggest that the divorce rate is not as high as 50 percent and is not increasing as many have been led to believe. New statistics show that the high divorce rate realized during the late '70s and early '80s were more akin to outliers than long lasting trends.

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.

Divorce, marital property and retirement benefits

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.

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.

Divorce and the appreciation and division of stocks

One of the most difficult parts of the divorce process is the division of property. This can be particularly complicated for couples who have significant or complex financial assets--such as stock portfolios, vacation properties and retirement plans. In any case, it is critical that property and assets are divided appropriately in order to protect the financial interests of the parties involved.

Georgia woman sues fiancé for breaking engagement

Many people in Cherokee County heard the news story last month about a woman who sued her fiancé for breaking their engagement to marry. The Georgia man has now been ordered by a state appeals court to pay his ex-fiancée $50,000. So, does this mean that any Georgia resident can sue an ex for calling off a wedding? Not exactly.

How is pet custody determined in divorce?

Several years ago in this Cherokee County Divorce Law Blog we discussed the issue of pet custody. Pet custody disputes come up often in divorce and they are perhaps becoming more and more common. Many divorcing couples are still surprised, however, when they find out that there is no legal procedure to determine a pet's custody after divorce. Under Georgia law, pets are considered property and as such most family law judges will give no consideration to a pet custody dispute.

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