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August 2017 Archives

Car insurance must be addressed carefully in a divorce

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.

How shared parenting can benefit children, parents

Georgia parents who are getting a divorce might want to consider shared parenting as a custody option. In around 80 percent of cases, mothers still get custody, but this can be a poor arrangement for the mothers, the fathers and the children. In a shared parenting arrangement, a child spends equal or nearly equal time with each parent.

The tax status of alimony payments

When a Georgia couple gets divorced, it is possible that one party will pay alimony to the other. One benefit to paying alimony is that it may be treated as a tax-deductible payment. This is only true, however, if a series of requirements are met such as the payment being made in cash or a cash equivalent.

How finances change after divorce

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.

Why mediation should be avoided for abusive relationships

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.

How to handle the financial side of divorce

A divorce can have significant emotional and financial impacts on Georgia couples. The average cost of legal fees, mediation fees and court costs related to a divorce is $20,000. However, there are other long-term costs that a person may not think about after a marriage ends. For instance, parents may be required to pay child support until a child turns 18.

Determining the value of a business in a divorce

Although Georgia divorces are already complex to begin with, they can become even more complicated if one spouse has a business. If the business was started after the parties were married or it grew significantly during the marriage, determining what value the business has is a crucial step in the property division phase.

Divorces most common after holidays and among young couples

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.

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Hecht Family Law
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