The division of property can be a highly contested issue in divorce. It may lead one or both of the spouses to engage in prohibited or unethical behavior in order to enhance their share of the assets.
For many Georgia couples, their home is their greatest asset. It is the place that contains the majority of their assets and that is worth more than any other asset that they have. While a couple's home differs from other assets because of its immense worth, it is treated the same as other assets if a couple decides to divorce, in that it must be divided during the divorce proceedings.
Dogs, cats and other pets can be as important to Georgia residents as any other members of their families. Pets help people get through the bad times in their lives and often the months spent involved in a divorce are some of the worst that people ever endure. When a divorce arises and a couple shares a pet, questions can surface over how ownership of the animal should be managed.
The property division process has a significant impact on divorcing parties as it determines their financial standing after the dissolution of their marriage. It is therefore important that those going through a divorce have a good grasp on their assets in order to fight for what they are entitled to when the assets are divided.
Student loans and other debts are an issue for many married couples. When a couple divorces, the common question is whether both spouses will be liable for such debts or whether they are the responsibility of the party acquiring them.
Property division can be complex and heated, especially when significant assets are involved. Spouses should be aware of their rights and obligations when going through the property division process.
An important issue to determine in a divorce is the distribution of property between the former couple as it details their finances from that point on. Spouses should be aware of the rules governing this division and how property is classified and valued.
Retirement accounts are often given less consideration during a divorce than other assets since they often aren't used for many years in the future. These assets, though, may become a couple's largest assets and their distribution should be handled correctly.
Dividing property pursuant to a divorce is done based on the rules of the state in which a couple resides. These rules are different from state to state and spouses must be aware of their responsibilities to accurately report assets and not try to hide them or deceive the other party regarding their value. Georgia happens to be an equitable distribution state.
The division of property pursuant to a divorce may entail significant discovery and investigations into the assets of the parties and to whom they belong. The following article details some tips that parties involved in a divorce may find helpful in the property division process.