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Atlanta High-Asset Divorce Law Blog

Why spousal support may be worth fighting for

Alimony used to be commonly awarded to the wife in a Georgia divorce. But in recent years, that trend has changed. Now, it's called spousal support instead of alimony, and either spouse may be the recipient of these payments. But it is far likelier that neither will be awarded spousal support in the divorce.

Yet, this sometimes is worth seeking in your divorce. Even when spousal support is of limited duration, it provides a post-divorce cushion that can be quite helpful when getting back onto your feet and re-entering the workforce.

How does divorce differ for wealthy couples?

Divorces can be complex matters when the couple has amassed considerable wealth and resources during their time together. It certainly is not as easy to disentangle yourself from a 20-year marriage and split the financial accounts, vacation homes and art collections as it is for young couples with few assets.

It typically will be especially important for those with more assets and resources to strategize their exits from their marriages. After all, those who have more also have a great deal more to lose in a divorce.

Mediation preserves privacy in divorce

Divorcing parents should do all that they can to shield their children from the harsher realities of the split. However, because divorce proceedings are public records, no matter how circumspect the parents may be, there is always a risk — either now or in the future — that the kids could become privy to the details of their parents' divorce.

One good way to lessen the risk of prying eyes reviewing the more salacious or just private aspects of your divorce is to mediate rather than litigate it. Below are some clear advantages to mediation.

Be mindful of timing with high asset divorces

Couples who have few or no assets can divorce with relative ease. But for couples with significant resources and assets, the divorce process is usually much more complex.

It is the latter group who may need to strategize their divorce filing in order to make the most of any tax benefits of being part of a married couple as opposed to a divorced single.

Tips for surviving the holidays when you're divorced

The winter holidays can be fraught with drama for divorced parents struggling to co-parent for the first time. Of course, both of you want to spend Thanksgiving with your kids. But often, that just isn't possible.

After all, you don't want your kids' childhood memories to focus on car trips between mom's and dad's house every holiday. No child deserves that. To avoid just that scenario, it's important to work with your ex to find a compromise so each of you gets to spend quality time with the kids.

You don't have to lose your business in divorce

You've been running your Atlanta business for the past 20 years, which is coincidentally how long you have been married. But, as it turns out, your marriage is now ending. You certainly don't want to lose your business as well.

It is never a foregone conclusion that you will lose your business in a divorce. Your spouse may indeed have a legitimate claim to some ownership of the business. But that does not necessarily spell doom for you, either.

3 divorce situations that often require a forensic accountant

Going through a divorce is often stressful. Fortunately, if you and your spouse have substantial marital assets, you are apt to have a successful financial future through a fair division of property.

In Georgia, judges assume both partners have an equitable interest in marital property. When preparing for the end of your marriage, you may want to add a few different professionals to your divorce team to ensure you receive what is rightfully yours. If any of the following situations apply to you, you probably want to have a forensic accountant on your side. 

How can we divide our assets in the divorce?

With the exception of some custody matters, typically the property settlement portion of a divorce is the most difficult to resolve. If you and your soon-to-be ex are struggling with the division of assets and debts, you are certainly not alone.

Couples with little property and few debts have an easier time with this part of the divorce process. The more resources you have acquired and bills you've run up, the more complex it will be to extract yourself from the relationship.

Should you change your last name after a divorce?

A divorce is a tumultuous time, but it is also an opportunity for a fresh take on life. You may want to signify that change by reverting back to your maiden name. 

Divorcing your spouse does not automatically result in a name change. You still need to go through all the legal processes, as would be the case any other time. Fortunately, Georgia makes it easy to file for a name change following completion of the divorce process, but you need to decide what you want to do during the proceedings. However, you need to weigh the pros and cons of a name change to determine if it is right for you and any children you share with your former spouse.

Should you seek alimony in your Georgia divorce?

While alimony paid by the husband to the wife was once almost automatically included in every divorce, this is no longer the case here in Georgia as well as elsewhere in the United States. Family law courts are increasingly not awarding alimony to be paid to ex-wives. In some cases, the wives may even have to pay spousal support to their ex-husbands.

It can be challenging to transition to a lesser standard of living than what you enjoyed while you were one-half of a couple. That's why judges frequently order rehabilitative alimony for a limited number of months or years. Its purpose is to ease the transition into a new life while also giving the recipient spouse time to return to school or acquire the skills to re-enter the workforce and become self-supporting.

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