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Alpharetta Family Law Blog

Dealing with a divorce after creating a start-up company

When Georgia couples decide to end their marriage, it can be difficult to decide how marital assets will be divided. However, for those who become lucky with their startups, going through the divorce process can be even more difficult due to the amount of money and business assets that may be at stake.

Because Georgia is an equitable distribution state, a court will endeavor to divide marital assets in a fair manner. When it comes to startups that are successful, dividing up the assets is a relatively simple process in theory. However, it is considerably more difficult if the company does not yet have a monetary value.

Selling a home after divorce

While there are many reasons one might wish to keep a home following a divorce, it may make sense in many cases to sell the home instead. Here is what Georgia residents need to know when evaluating what to do with a marital house.

First, one should consider what he or she must trade in order to keep the home. This may involve giving up a 401(k), a pension, investments or savings. The amount one must trade to secure a home might hinder financial security and stability. Additionally, affording a home on one salary can be a hardship. One must consider the costs of property tax, mortgages, insurance and home maintenance.

Negotiating a divorce settlement

Georgia couples who are facing the end of their marriages might want to negotiate a settlement agreement rather than having a judge make the decisions. For some, the process can be more amicable than for others, but in all cases, walking into negotiation sessions prepared is the key to successfully completing the process without it dragging on and having costs mount up.

There are certain things people can do to prepare for the divorce settlement negotiations. The first is to be clear about their wants and needs. This includes making a budget that realistically addresses what they want their life post-divorce to look like. Then, they can prioritize what they need and want and go into the negotiations with a clear idea of what is most important to them. In addition, the more a person knows about the other party's needs and wants, the easier the proceedings might go.

Working together to sell the family home

Georgia couples that are divorcing will also be negotiating over what share of the assets each person should get. Part of this negotiation might include the decision to sell the family home. In order to get the most for their home, divorcing couples should work together to get it ready for sale and through the selling process.

Being fair about property division might mean a more stable financial life post-divorce. If selling the family home is in the plans, experts recommend couples should attempt to put aside their differences so they can be in agreement about their sales goals. They should agree on which spouse will be the one communicating directly with the real estate agent since having both spouses continuously talk to the agent might lead to confusion, particularly if the couple have certain points with which they don't agree. The couple and the agent should also plan their sales strategy together.

Divorce in the new year

For some Georgia residents, the new year means taking steps toward divorce. They are not alone; making the decision to divorce after the holidays seems to be common. Experts believe that divorce filings might increase during this time because something going wrong with the holidays might be the last straw for an already failing relationship.

For those who find themselves on this path, preparation might be the most important tool they can use early on. One of the first things people can do when preparing for divorce is to educate themselves about the basic legislation of the process. This can be easily done by reading information available from reliable online sources, such as the pages for their state bar association and their state's courts.

3 reasons doctors are more likely to face divorce

While being a doctor doesn't guarantee that you'll go through a divorce, it can mean that your relationship will face additional struggles that others may not. There are dozens of reasons why doctors might become more prone to divorce.

From stress on the job to problems making time for your spouse, being a doctor makes life a little more complicated. Here are three reasons why doctors may need to prepare for divorces in their futures.

The financial impact of a divorce

While filing for divorce may not have an impact on a Georgia resident's credit score, actions taken after the divorce could. For instance, it may be necessary to refinance a home as part of a divorce settlement. This may require a hard credit check, which could be enough to reduce a person's score. It is possible that living on one income makes it harder to keep up with debt obligations.

This may result in missing debt payments or paying them later than normal. Ultimately, it could have a negative impact on an individual's credit score in the short and long term. In some cases, debts are not split evenly when a marriage ends, which means that one person may have a larger debt load. It is also possible that one spouse fails to pay his or her share of a joint debt.

Survey looks at financial status of people after divorce

People in Georgia might want to consider preparing for divorce just as they would for any other kind of unexpected incident, such as a disability or long-term illness. Around 40 percent of marriages end in divorce, and people tend to have lower incomes after a divorce.

For example, one survey found that divorced people tended to have an annual income that was $9,800 less than that of married people. Nearly half of divorced people said they were not saving or investing take-home pay compared to fewer than one-third of married people.

Manipulation can hurt parent-child bonds

For Georgia parents, one of the most difficult parts of going through a divorce can be their concerns about the effect of the end of the marriage on their children. The emotional, loving bond between parent and child is one of the most important bond in a person's life, and children who are placed in the middle of a contentious high-asset divorce can suffer psychological effects that are long-lasting and undermine the importance of this relationship. Child custody issues can linger on for years after the parenting plan is in place and the settlement signed.

It's always in the best interests of the children when parents can work together after the end of their marriage to protect their children and cooperate in supporting their development and growth. Unfortunately, some co-parenting relationships can be poisoned by parental alienation or deliberately false complaints against one parent by the other. A parent may find that the other parent refuses to cooperate with custody schedules or, on the extreme end, even files false reports with teachers, counselors or child protective services.

Jodie Sweetin to pay $2,800 in child support for daughter

Entertainers like Jodie Sweetin, the star of "Fuller House", might appear to viewers in Georgia to lead exciting lives, but they also have to follow court orders. A court has decided that Sweetin needs to pay her ex-husband $2,800 every month to support their 7-year-old daughter.

The court order states that the payments will continue until the girl attains age 18, dies, marries or is emancipated. Her father is to receive two payments per month with $1,400 due from Sweetin on the first of every month with another $1,400 to follow by the 15th of every month.

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