Divorce is not an easy process. It often causes heavy stresses and it can be expensive, in terms of emotion as well as finances. Many Georgia individuals and couples delay the process as long as possible in efforts to avoid these negative effects, but there are certain situations where the only course is to end the marriage. These include circumstances of addiction, abuse or severely poor parenting. Paradoxically, many individuals in such circumstances struggle to recognize them.
Married partners in Georgia generally work out how to share income and pay bills. Many people use a joint bank account, but trouble can arise if one spouse starts to act suspiciously with money. Financial advisers warn people that, even when the law could be on their side, recovering money after a spouse has moved it is always more difficult than preventing its loss.
In some ways, getting a divorce may be beneficial for Georgia residentslooking to end their marriages. For instance, it may be possible to get better returns on investments as one spouse may have been riskier with a portfolio than the other would have been. It may also provide an individual with an opportunity to reset their financial priorities overall or swap out a house for an affordable apartment.
Older couples in Georgia and other parts of the US might become part of a gray divorce epidemic. While the divorce rate has decreased for most demographics, gray divorces, or those for couples over 50, continue to increase. One of the concerning aspects of gray divorces is how high the cost of these can be.
Divorce law varies widely from state to state, but federal tax law is uniform across the country. In Georgia and the other states, for example, the Internal Revenue Service considers parties unmarried for the entirety of the year during which the divorce decree was finalized. Among the other ways in which divorce will affect taxes are with regard to alimony, dependents and certain tax breaks.
In Georgia, people end their marriages for many different reasons. A study reveals that people in certain professions may be much likelier to get divorced than those who work in other types of jobs. In general, those with the highest incomes are less likely to get divorced than those with lower incomes.
When a Georgia couple decides to end their marriage, the financial details of the split will demand their attention. A car insurance policy with both spouses named as the insured requires a specific process for creating separate policies. A mistake could cause someone to drive unknowingly without coverage. Usually, a divorce must be completed before the two parties can establish individual policies, but an earlier split could be achieved if necessary. In either situation, the parties must follow specific rules to avoid disputes or interruptions in coverage.
For many Georgia couples whose marriages are coming to an end, a divorce can mean financial challenges. Although women are increasingly working outside the home and earning more, they still tend to pay a higher price in a divorce in terms of financial insecurity. Because they tend to take on more caregiving duties, women also give up some of their earning power.
There are many reasons why a Georgia couple may wish to go through mediation when ending their marriage. Not only do they have more control over the final terms of their divorce, but it also gives them a chance to have a more satisfying ending. However, there are certain cases where mediation is not an appropriate option. For example, those coming out of abusive relationships should avoid it.
People in Georgia who are considering divorce might be interested to know that most separations happen following vacations and holidays. This is why the summer and post-Christmas period are some of the most common times for couples to choose to end their marriages. The stresses of family get-togethers, travel and, believe it or not, time away from work can highlight incompatibilities or put further pressure on a difficult relationship.