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Atlanta High-Asset Divorce Law Blog

Do you dread summer custody battles?

If you are a parent who shares custody of your children with their other parent, you may dread summer vacation because of the struggles you endure over their custody.

Whether your divorce is still pending, or you never formalized your relationship, you will still have to abide by any terms set forth in any interim or permanent custody order. For instance, you might want to head down to Florida for a week and let the kids get in some beach time. But if your custody order states that you may not take the kids out of state, you could have a big problem.

Can you operate a business together after a divorce?

When you co-own a business with your spouse, divorce becomes quite a bit trickier to execute. One of the fears of divorcing couples with a shared business to run is that their companies will take a hit from the divorce and not be sustainable.

That's why at least some divorcing couples decide to tough it out and remain in business together as partners. Perhaps surprisingly, some manage to make it work.

Can you challenge a prenuptial agreement?

No matter how many years of marital bliss you have experienced, a divorce can happen at any time. If you are splitting up with your partner late in life, it is natural to feel uneasy if your spouse was the primary breadwinner. To compound matters, you might be realizing that the prenuptial agreement you signed may leave you with a small percentage of the joint assets.

While many states require contracts to meet the set standards of The Uniform Prenuptial Agreement Act, Georgia does not follow this procedure. This fact, along with other factors, might put your agreement on shaky ground.  

The importance of using spousal support wisely

When it comes to alimony, our attorneys typically see recipients in Georgia approach these funds in one or two main ways. The first way involves holding on to that money as if it were a lifeline. They are terrified of using spousal support in case they need it for something major down the line. The second way involves spending the funds for outrageous purchases as if recipients just received a significant inheritance from a relative.

Both of these ways are improper. Not spending a single cent of spousal support is pointless and goes against the reasons why alimony came to exist. The second way is a complete waste of money and may leave you in serious financial distress at some point in the future.

Know how Georgia's laws affect your high-asset divorce

Any high-asset divorce has the potential to cause conflict. Both parties have a lot to lose, so it makes sense that they may fight tooth and nail to keep all they can.

While going through this kind of divorce, it's important to know how living in Georgia could affect your case. You are not in a community property state, so the first thing that is affected is your right to property. Yes, you do have a right to your marital property, but the percentage of property you're entitled to isn't necessarily going to be 50-50.

Is lump-sum alimony a good idea?

If you and your spouse are divorcing, spousal support (formerly known as alimony) may be one of the issues that needs to be hashed out. Spousal support payments often become a bone of contention in otherwise relatively routine divorce cases.

There are a few reasons why this is so. The paying spouse typically resents having to continue making payments to their ex after the divorce. If the two have minor children together, the issue of spousal support can damage their fragile co-parenting relationship.

It may be possible to simplify your Florida business divorce

In most cases, business and divorce do not make good bedfellows. The founder of the business is usually afraid of losing everything he or she has worked so hard to build. By contrast, the other spouse may worry about not getting a fair share of the business profits. All of this fear and concern has the unfortunate effect of overcomplicating divorces that involve business owners.

It may surprise you to learn that many of the concerns Florida spouses have about a business divorce are unfounded. Abandoning any assumptions you have about the outcome of your split can clear your mind and allow you to focus on what is truly at stake. We are pleased to offer you two tips to help you achieve this goal.

Follow these tips to make your high-asset divorce easier

Going through a divorce when you have a considerable amount of assets can be a complicated process. You and your spouse may have assets that are invested, saved or put aside that you'll have to access and disclosure during the divorce. You might have assets your spouse doesn't know about or vice-versa. These need to be fully disclosed.

From a practical standpoint, there are a few things that you should do when you're going through a high-asset divorce. The first is to do all you can to keep your divorce private and out of court when possible. If the case goes to trial, anyone who wants to may be able to see the documentation submitted.

Have you devised your summer child custody schedule yet?

Within weeks, kids will be out of school for another long, hot Atlanta summer. If you are a divorced parent who shares custody of your minor children with your ex, that can mean obstacles when coordinating summer child care responsibilities.

If you are in the throes of a divorce and/or contested custody action, it's important to include a plan for the summer. The two of you should ideally work together to create a workable plan that allows both parents to spend as much free time with the children as possible. Below are some tips to make that happen.

  • Communicate. Although this might be the last thing that you want to do with your ex, communication is key to avoiding custody problems. If you want to avoid actually talking, communicate via text or email or try one of the specialized apps for co-parent communications.
  • Plan ahead. Before scheduling your summer vacation or purchasing airline tickets for a trip to Disney World, make sure that your custody agreement allows you to remove the kids from Georgia and that your plans don't conflict with your co-parent's vacation plans.

Gray divorce involves special considerations

Often, married couples find that, once they reach a certain stage in the marriage, or once their children have moved on and established lives of their own, they no longer have as much in common as they once did. This is among the many reasons “gray” divorce is on the rise, but divorcing after 50 can involve certain challenges that differ from those faced by younger people.

Why? Part of the reasoning is the simple fact that the longer a marriage lasts, the longer a couple has to accrue shared assets or amass considerable wealth. The more wealth a couple has, the more they have to do to figure out how to divide it. So, what are some key issues you will typically need to work through when you divorce later in life?

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