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Property division second greatest fear about divorce

A recent survey sought to determine the top concerns that most Americans have when it comes to the issue of divorce. Approximately 900 individuals were asked what they found most concerning about the divorce process. Their answers, along with the responses of nearly 400 attorneys who practice family law, give some insight into the issues that Georgia spouses find most troublesome. The survey results suggest that aside from issues concerning child custody, the cost of a divorce is the number one concern that spouses face; coming in a close second was the ins and outs of property division.

These answers are not surprising, given the fact that the ultimate cost of a divorce and the results of property division are difficult to accurately predict at the beginning stages of a divorce. The end of a marriage also signifies a new beginning, and spouses who are preparing to divorce are simultaneously preparing to set out on a new course in life. Having the financial means to move forward is an essential concern, and rightfully so.

On average, the cost of a divorce sits near $15,000. However, each scenario is unique, and many couples will find that their divorce is more complex than average, and that their legal fees will far surpass this amount. These costs come into play on top of the results of property division, which can wreak significant financial havoc on one or both parties.

While these concerns are certainly understandable, Georgia spouses should understand that there is no divorce concern that cannot be adequately addressed within the divorce process. There are ways that parties can work to reduce their overall legal fees, and the results of property division can usually be offset by savvy financial planning strategies. One's divorce attorney can be very helpful in educating clients on these and other divorce topics, and can help structure an approach that minimizes the financial repercussions of one's divorce.

Source: Forbes, Two Divorce Trends Identified In The Legal Marketplace, Jeff Landers, Sept. 10. 2013

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