With divorce comes the division of assets, debts and property. If there are children involved, then child custody arrangements have to be worked through as well. When two parties begin this process, it is crucial for them to carefully plan and take into account all of these factors. Georgia family lawyers can provide guidance for clients as they determine property division, alimony and possible child custody arrangements.
The laws and guidelines concerning property division and divorce vary by state, and rarely is everything split 50/50. In order to have the most equitable split possible, it is highly important that both parties account for all assets and debts that they have individually and that they share. When taking these things into account, determining what is marital and what is separate property can assist in figuring out the distribution of these assets.
401Ks, IRAs, pensions, stocks and numerous other assets also have to be included when going through the divorce process. Thinking about the future and how alimony and property settlement will affect one’s finances can help divorcing parties make smarter arrangements. Family lawyers can assist clients as they account for assets and work through property division.
Property division during the divorce process can be difficult since most everything has come to be shared between the two parties. Georgia family lawyers who have experience in handling a variety of divorce cases and can provide guidance to clients as they work through the divorce process. Understanding the various factors that are involved and accounting for all assets can ease the stress that often comes with this process.
Source: seekingalpha.com, “Common Financial Mistakes Divorcing Women Make“, Russ Thornton, June 20, 2017