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Posts tagged "Divorce"

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.

Property division can be a costly undertaking

In Georgia and elsewhere, divorce proceedings can be contentious. This can be especially true when it comes to the division of property and assets. The more property and assets that are involved, the more complicated property division can become. Take, for example, the recent story of the divorcing couple who jointly owned an original Picasso.

Finances and divorce after 50

The rates at which couples dissolve their marriages in the United States have been on the decline in recent years. However, there is one age group for whom this does not hold true. For those over 50, the divorce rate has doubled since the 1990s. Though it clearly impacts both men and women in Georgia, one area affecting women more than men, particularly women over 50, is the area of finances.

Alimony, divorce and the new tax law

While many locations have seen a drop in the divorce rate recently, 2018 may prove to be the exception. With the changes to alimony created by the new tax law, people who may be contemplating a divorce in Georgia may decide to follow through with the idea. The new law changes how alimony is treated for tax purposes.

Divorce, alimony and the new tax law in Georgia

Divorce is not easy and is seldom entered into lightly. There are many issues that must be considered, including property division, child custody if there are children involved and financial matters. Under the new tax law, the financial issues in Georgia divorce proceedings may become more complex, in particular where alimony is concerned.

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