As a new year begins, January seems to be the month of divorce. Now that the holiday season is over and resolutions are being made, many want a clean slate with which to begin the new year. While this appears to be a logical course of action, it is important for those considering divorce in Georgia to be prepared for the proceedings to follow.
One important aspect is to understand the value of marital assets and liabilities. Although one party may have been in charge of the finances throughout the marriage, having a knowledge of what one’s assets are and how much they are worth can greatly ease the stress that typically comes with property division. Determining how these assets and debts can be divided efficiently prevent unnecessary conflict later on.
Reviewing one’s taxes can also prove to be helpful, especially since tax forms come out at this time of year. These forms may provide one with a more thorough understanding of what is owed and what one is holding. Other financial documents, including those related to retirement and real estate, are beneficial to have on hand before divorce proceedings begin.
Divorce can be a high-conflict process. However, preparing oneself before the proceedings begin with information concerning assets and liabilities can help make the divorce go smoothly and efficiently. Those in Georgia considering divorce can seek the guidance and support of a family lawyer. This family law professional can provide information about various aspects of the process and help devise and implement a plan focused on achieving a fair and balanced settlement.
Source: The Huffington Post, “January: The Month for Divorce”, Kyung Dickerson and Alan Plevy, Jan. 13, 2017