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How is Debt Divided in Divorce in Georgia?

When entering into divorce, many people look at dividing the assets as one of the most important factors to consider. And it is. However, a lot of people fail to think about debts. It is easy to assume that whichever party took on a debt should be the one who absorbs the liability for the debt once the divorce is finalized. But this is not always the case.

How is property divided in Georgia?

There are many things to be concerned about in a divorce: Your children, where are you going to live, how much support will you pay or receive, and other similar concerns are common.

Is fault required for divorce in Georgia?

One of the most common questions we get asked by clients is whether they need grounds for divorce. It is easy to get confused as to whether Georgia is a no-fault state and as to the various reasons that are acceptable for divorce in the state.

Too many divorcing millennials undervalue their 401k and IRA accounts.

Many young couples don't put much value on the retirement accounts and savings that are divided in divorce. For many in their 20s and 30s, items like houses and vehicles are seen as more important than the IRAs and 401k accounts.

Women Seem To Be Better At Handling Their Finances After a Divorce

Surveys conducted by CPA financial advisors show that more than three quarters of retirement age divorcees could improve on the way they handle their finances. There has been a steady increase in divorce rates of couples over 50 since the 90's, which has led to more adults scrambling to achieve financial security for their retirement years.

Protect your business ownership in divorce

If you are like most successful entrepreneurs and other business owners, the business itself represents your life work. It is one of the most important aspects of your life, something you want to protect against any attacks and challenges.

Protect your credit after your divorce.

People going through their first divorce are primarily concerned with the outcome of the divorce proceedings. They worry about whether they will get a favorable child support or spousal support ruling without thinking much about how these payments will be made.

Why mediation is a great tool for high-asset divorce

For many divorcing couples who have amassed a significant degree of wealth, mediation might not seem like the best choice. On first blush, it would appear that a high-asset divorce should be more contentious, and the courtroom would be the only appropriate venue for a divorcing couple to battle over every detail.

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