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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.

Divorce, children and financial aid for college

When a couple decides to divorce in Georgia there are many decisions to be made and different issues to consider. Not least among these is the current and future well-being of children involved in the divorce. However, one issue that is often overlooked, particularly if the children are very young, is providing for college education when the time comes.

Divorce can be costly but preparation can help

Divorce is an unpleasant and costly undertaking in Georgia. While little can be done to ameliorate the unpleasantness factor, there are steps that can be taken to possibly reduce or at least to improve the financial implications of a divorce. A little bit of forethought and research can be helpful.

Divorce, alimony and the new tax law

The recently passed tax law will change the way alimony is handled in Georgia for tax purposes, effective Jan. 1, 2019. Since 1942, tax law allowed the person paying alimony to deduct the amount from his or her income and the person receiving the alimony paid income tax on the amount received. Since the income of the alimony recipient is typically lower than that of the person paying alimony, the recipient is likely being taxed at a lower rate than the person paying the alimony.

Finances can surprise in a case of divorce

Divorce is never a decision to be made lightly or to go into blindly in Georgia. In a recent study by online marketplace Worthy, 46 percent of women said they were surprised by one or more financial implications of divorce. Being familiar with family finances can help reduce or eliminate such a surprise.

Different paths to a divorce settlement

The decision to divorce is seldom arrived at lightly in Georgia. But once the decision is made, there are different options available as to how the final agreement can be reached. In a recent high profile divorce, the couple agreed that spousal support would be determined through mediation. There are three principal processes that a divorce proceeding can follow, mediation, collaborative or the more traditional litigation.

How is debt responsibility apportioned in a divorce?

Making the decision to divorce in Georgia is never an easy one. Once the decision is made, arriving at a final settlement can be difficult and become contentious. This is particularly true where financial matters are concerned. These matters can add to the complication of a divorce.

How IRAs can figure in alimony payments with the new tax law

The financial components of divorce may look a little different in Georgia starting in 2019. The alimony deduction is disappearing with the advent of a provision in the new tax law which will then be in effect. There is another option that may provide some tax benefits if the circumstances are right.

Divorce and property settlements are not easy

Divorce in Georgia can lead to very contentious situations. The more property and assets that are involved, the more antagonistic the situation can become. Such is the case in a prolonged divorce settlement of a high profile couple in Atlanta. Their wedding was a lavish affair in 1995. Two very successful people were getting married and chances are they did not have divorce on their mind.

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