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Understanding value could help with Georgia property division

On Behalf of | Aug 29, 2013 | Divorce |

Though many couples in Georgia take a team approach when it comes to handling finances, there are many households where financial duties are delegated to one spouse. This method may be effective while a couple is married, but should a marriage end, the spouse who did not have much participation in financial endeavors may find him- or herself at a loss. Not only will an individual need to learn how to handle personal finances but knowing what their assets are worth could prove beneficial when it comes to property division.

Going through a divorce means a lot of changes will be occurring, and some individuals may worry about what they will be left with when the proceedings are over. If one party is not aware of what certain items are worth or what the worth really means, they could possibly come out on a lesser end financially. Though some property, such as a house, could be estimated to be worth a certain amount, that does not necessarily mean that amount is equal to the same amount in cash or compared to other items.

Information about what assets are really worth could go a long way in helping a party feel more confident in determining what they may be entitled to. Outside help may be needed when it comes to understanding financial situations and property worth if a spouse had little knowledge before. Outside help may also be beneficial when it comes to making sure all eligible assets are being considered when a couple goes through separation and division.

Alleviating fears when it comes to going through a divorce can do a great deal to ensure that everyone is getting their fair share. Property division can be a very complex process and without the proper help and information, an individual may not know how to handle the situation they are being placed in. By having knowledge on Georgia divorce and property division laws, a person could be much more prepared for the processes ahead.

Source: CBS News, Divorce financial planner: 3 common fears, Robert Pagliarini, Aug. 23, 2013


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