Family Law Archives

Staying in control of finances during a split

Georgia residents considering the divorce process will need to stay on top of their finances as they prepare for life post-divorce. This is particularly important for older couples who experience divorce as they are entering or are already in retirement. However, all residents who are preparing or going through this process can stay in control of their finances so that they can have a healthier financial life.

How divorce affects taxes

For couples with a combined income of $612,350 or more in 2019, income taxes are actually higher than if the two were unmarried. However, marriage still offers a number of other benefits that couples lose access to if they divorce. Georgia couples who are considering a divorce should keep these benefits in mind.

Signs that a marriage may be heading toward divorce

Georgia residents may be interested to know that there are signs, according to experts, that indicate a couple may be headed for divorce. Some of these signs are clearly seen by outsiders. Others are things that only the individual contemplating divorce knows is going on inside.

Buying out a family home during a divorce

One option that many Georgia couples consider when getting a divorce is to sell the family home and use it as part of the divorce settlement. Another option, especially when children are involved, is for one spouse to buy out the family home from their soon-to-be ex-spouse and continue living in it. When a couple decides to do that, they need to calculate the house buyout.

Divorce could lead to credit score damage

Divorce presents several emotional and financial issues. However, many soon-to-be exes in Georgia may overlook the potential impact on their credit scores. Most married couples have joint accounts and joint debts, like shared credit cards, loans and mortgages. While the divorce decree could make one spouse responsible for the repayment of a joint debt account, this does not affect the parties' contract with the lender.

Key activities to relieve stress during divorce

Going through a divorce can be one of the most difficult things Georgia couples experience in their lives. According to statistics published by the American Psychological Association, roughly half of all first marriages across the country end in divorce. The divorce process does not only mean losing a partner and co-parent; it can also mean giving up on long-standing plans and the hope of a continued loving relationship with a particular person. There are things people can do to help them make the transition less stressful and taxing.

Why a post-nuptial agreement may be beneficial for new parents

Expecting parents in Georgia may want to think about a potential divorce. Negotiating the terms of a divorce while the marriage is still strong can make it easier to create reasonable terms that each party can feel content with. A prenuptial or post-nuptial agreement can cover topics such as property division and spousal support. However, they generally cannot be used to create a child support or child custody arrangement.

Marital satisfaction may not steadily decline

When couples in Georgia get married, they often have hearts full of happiness, hope and excitement. Prevailing wisdom says that these feelings will soon wear off and that marital happiness will decline as the years go by. New research, though, is calling this idea into question.

Common divorce assumptions to avoid

Commonly believed myths about divorce could cause some people in Georgia to make mistakes during the divorce process. For example, some fathers may think there is no chance that they will be awarded custody, but this is not true. The court will make a decision based on the best interests of the child. If the father has been the child's main caregiver, he might get custody.

Spouses may hide assets in divorce cases

A common occurrence in divorce cases is one spouse hiding assets from the other in an attempt to keep the assets for himself or herself once the divorce is finalized. People in Georgia who are approaching or going through a divorce should be aware of some of the tactics a spouse might use to conceal marital assets. He or she might move money around by overpaying creditors or the IRS, purchasing antiques or art, investing in cryptocurrencies or redirecting account statements.

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