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Marietta Family Law Blog

How could divorce impact your small business?

When you started your business, you were optimistic for the future and looked forward to what success for your business will look like. Years later, you are enjoying success and stability as a business owner, but you may be dealing with complications in your personal life. If divorce is on the horizon, you may wonder what this process would mean for your company.

It's appropriate to start the process of protecting your interests and developing a strategy for approaching your business assets as soon as possible in a divorce. Preparing for what is ahead is a key component to securing a final order that is fair and reasonable for both parties. As you look ahead, it's smart to resolve to handle your divorce with a focus on what will be best for the future -- not necessarily what you feel like in the moment.

Recognizing when mediation isn't working

No matter the reason for your marriage breakup, you had hopes of maintaining a civil relationship after the divorce. Perhaps you have children to consider or you simply want to avoid the emotional turmoil a litigated divorce can bring.

To meet your goals, you suggested mediation to resolve the issues and arrive at a cordial settlement. Although your spouse initially agreed to mediation, you may be worried that he or she did not make the agreement in good faith. When you are in the thick of things, it may be difficult to tell if mediation is going well, but there are signs to look for that may indicate it is time to abandon mediation and get ready for court.

Divorce does not have to strap you financially

You may be one of the few for whom careful planning was a large part of the financial success of your family. Creating a budget, saving without compromise and taking advantage of ways to maximize your wealth may have allowed you to weather many storms throughout your marriage and come out with your finances intact. On the other hand, you may be among the many who never bothered with a financial plan and built your success on sheer luck.

Whichever is your style of managing money, if you are facing a divorce, adopting a new method of financial planning is critical for you. While you may be going through an emotional phase that has you thinking more about your past, you will not want to wake up one day after the divorce is final and wish you had put a strategy in place.

Your divorce and your retirement: Protecting your future

Georgia readers know their decision to move forward with a divorce will greatly impact their future, especially if they are age 50 and up. The choice to end a marriage will signal may significant financial changes, including changes to retirement plans. If you are nearing retirement and facing divorce, it is prudent to take steps to shield your future interests. 

Gray divorce is a divorce involving two people age 50 and over. These are financially complex divorces for various reasons. Perhaps you and your spouse were together for decades and have significant savings together. Maybe this is your second marriage and you are concerned about paying spousal support. No matter the details of your individual situation, you would be wise to proceed thoughtfully and carefully as you make choices that will greatly impact your future.

The discovery phase will play a vital role in your divorce

As much as you may have wanted to settle your divorce out of court, you find yourself facing litigation. Perhaps certain issues were too important for you to compromise, or your spouse may be digging in and refusing to cooperate. Whatever the reason, you may feel intimidated by the process -- and with good cause. Some couples feel they lose control of their divorce once the courts get involved, so it will be helpful if you understand as much as possible before moving forward.

One of the first steps in the divorce process is the discovery phase. During this time, your attorney and your spouse's attorney will attempt to gain a complete picture of your marriage, particularly concerning your finances and your goals for child custody, if applicable. Discovery is critical if you expect to get a fair share of property division.

Even complex divorce cases can benefit from mediation

Many Georgia residents who have complex issues to figure out in their divorce proceedings may feel that they have to go to court to achieve resolution and marriage dissolution. That is not actually true. Even complex divorce cases can benefit from mediation.

What is mediation? Why should I consider it? Can it really work with the type of issues that are present in my divorce case?

Is financial abuse keeping you from seeking divorce?

Every marriage has its complexities, and yours is no exception. Unfortunately, what makes your marriage complex is the control your spouse has over you. If you are the victim of physical or emotional abuse from your spouse, you may also be the victim of financial abuse. Many spouses are not aware of the control their partners have over them financially until they try to leave the marriage.

One way in which a spouse can manage the actions of a partner is to prevent the partner from having any financial freedom within the marriage. Without access to money or earning power, a spouse has few alternatives for a future outside the relationship. If you find yourself in this situation and plan to divorce your controlling spouse, you would do well to seek experienced legal assistance.

A lower divorce rate does not mean marriages are happier

While many in Georgia who marry hope their bonds will last a lifetime, some believe it is more realistic to assume the marriage will end in divorce. After all, for decades couples have heard the discouraging statistics that half or more of all marriages do not survive.

This number may be grossly exaggerated, and more recent studies show the rate of divorce around 39 percent. Yes, it seems that more marriages are lasting than in past decades. However, even this statistic can be misleading, and it does not take into consideration many important factors about marriage and divorce.

Mediation could give you a better start to co-parenting

Raising children takes a lot of work under the best of circumstances. Each phase of their lives provides new challenges for parents. During the good times of your marriage, you had each other to lean on when times got tough.

Now that your relationship has deteriorated and you are contemplating divorce, you wonder whether you can continue to present a united front to the children, even though you no longer live together. Co-parenting after your divorce does not have to be fraught with contention and chaos. Instead, you could take steps to make sure that you have the best start possible.

Money conflicts place wealthy marriages at risk

You and your spouse probably had many plans for your future, and some of those plans may have included material success. You focused on your career, or you supported your spouse's business endeavors. You did well, and perhaps your friends envy your financial success.

Unfortunately, you now understand that money does not buy happiness. While most studies show that financial conflict is among the top reasons for couples to divorce, a lack of money doesn't always bring about these conflicts. More often, it is a mismatch of attitudes and values about earning, saving, spending and borrowing that breeds discontent and frustration between spouses.

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