Jump to Navigation

Property division and its impact on a woman's retirement

Divorce can have a negative impact on a couple's financial situation in Georgia. Many times the impact on a woman is greater than it is on a man. A recent study at a noted college found that divorcing women may be better off than previously believed. The key determining factor, according to the study, is whether the woman owns a home of her own. This is something to consider when negotiating property division.

The study finds that divorced women have been historically better at accumulating assets for retirement than single, never married women. The key to this is home ownership because divorced women are more likely to own a home than women who have never married. Many women who divorce retain ownership of the family home.

There are other issues to be considered when making such a decision. Does a woman anticipate staying in the home long term? Are there financial means available to maintain the house and provide for emergencies? If there is any doubt in this regard, it may be best to right-size and sell the home and then purchase a more manageable one.

Regardless of what decision is made, owning a home gives a woman access to a significant asset that can be used in retirement. A woman considering divorce in Georgia may wish to consult with an experienced family law attorney. A knowledgeable lawyer can review a person's financial situation and possibly assist her in making a decision regarding property division that will benefit her in the near term and for the long term.

No Comments

Leave a comment
Comment Information

Let Us Help You

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close
Subscribe to This Blog's Feed

Office Location

Evans Office
Harrison & Medlin, P.C.
254 North Belair Road
Evans, GA 30809

Toll Free: 800-406-1621
Phone: 706-250-7653
Evans Law Office Map

Lincolnton Office
286 N. Peachtree Street
P.O. Box 1150
Lincolnton, GA 30817
Map and Directions

Facebook google plus

FindLaw Network