Couples report that the financial hit that people can take during the divorce process is a top concern for those contemplating a separation. In fact, outside of child custody is appears to be the number one concern for all couples that are getting divorced.
The average cost of a divorce is $15,000. However, there is obviously much more than $15,000 at stake when couples do divorce. Property division, the splitting of assets and what to do with the home and the equity in the home can all come with a price tag.
The cost of retaining a Georgia attorney may keep certain individuals from hiring one on during the divorce process. However, not having access to legal rights and options during the divorce process can result in disastrous financial decisions.
Especially in marriage break-ups involving a large amount of assets, property division in the divorce process can be complex. In the event of disagreements concerning this property courts will attempt to come up with an equitable solution. However, with assets brought in prior to the marriage, assets purchased during the marriage, money accumulated in retirement accounts and the ups and downs of the housing market, determining what is equitable is anything but simple.
Sometimes spouses do not play fair. Though parties to a divorce are obligated to reveal the assets that they own, some spouses nevertheless attempt to hide what they have.
Representation by an experienced family law attorney can help insure that the property division process is fair. Lawyers know what to look for when it comes to a property division and will alert their clients if red flags are raised.
Source: Huffington Post, “Divorce Study Indicates That Cost of Splitting Up Is Top Concern For Divorcing Couples,” Aug. 1, 2013