If you're going through a divorce, it's a good idea to sit down and think about unusual assets that you could be forgetting in your asset list. You may not know about all the assets your spouse has in their possession, but with a little creative thinking, it's possible to find more of the assets you share, so that you can get a better payout upon divorce.
When you ask your spouse for a divorce, there's certainly no guarantee that he or she will accept that request civilly and move forward. In many cases, one person feels hurt or angry, and those feelings cause tensions to escalate. This can lead to a toxic divorce.
What do you have to disclose about your financial affairs to your spouse during a divorce?
With any high-asset divorce, there are many assets on the line. People in these situations need to do everything they can to protect their own interests. Georgia is an equitable distribution state, which means that you're not guaranteed anything except what is perceived as your fair share of the marital estate.
If you're getting divorced, one of the most valuable assets you have may be one you've technically never used before: your spouse's pension plan.
There are many key aspects of the divorce process, with property division high on most everyone's list. As you focus on your assets and debts, you may come to find the family home is what means the most to you as you divorce. Your spouse, however, may feel the same way. The question of who will get the house in a divorce depends on a variety of factors.
When you file for divorce, you know that you will have to split up the assets that you have amassed during your marriage. You might automatically think about the large stuff like the house and vehicles, which are certainly serious matters.
When you go through with a divorce, one of the most difficult things is having to go through your possessions and divide them with your spouse. Georgia is an equitable distribution state, so there is no 50-50 requirement. While that's good for some people, it is also more complicated than in a community property state.
With any divorce, it is important to know what your assets are before you file. The reasons for this are numerous, but the most important reason to identify your assets is the potential for them to suddenly "disappear."
Are you in the process of a divorce or think you may be headed that way? If so, make sure that you don't end up getting a raw deal when you divide the marital assets. It's often smart to have a financial advisor on your team as you go through the process of dividing assets -- particularly if those assets are substantial. The larger the assets that have to be divided, the greater the potential for a serious mistake.