Divorce is an extremely emotional time in any man or woman’s life. Whether you were the one to leave or the one that is being left, there are numerous feelings you are processing that make even the most stoic of Georgians not know what to do next. For many people in Marietta, the thought of dealing with the number of Georgia family law issues that come with divorce makes their heads spin, which is why it is so important to always work with legal professionals when filing for and finalizing a divorce.
There are numerous things that a person must consider when negotiating a divorce settlement, including whether keeping the marital home will be worth it in the long run. In order to maintain some sort of normalcy in the lives of their children, the custodial parents may ask for the family home, but homes are an extremely illiquid asset. What happens if you can no longer afford the mortgage, the maintenance costs, utilities or taxes? It is often very difficult to sell the home quickly and, thus, it may not be the best asset to ask for.
If you have children in college, it is also extremely important for you and your soon-to-be former spouse to decide how you will pay for your children’s college tuition and expenses. If you do not, you may find yourself paying the entire cost of sending your children to school. Even if you and your spouse are unsure of if you will completely cover college or simply take out loans, working college tuition costs out in the divorce settlement protects you from having to re-hash the decision later.
Finally, one of the most important things you can do is gather the documents you will need for your divorce and bring them to your lawyer. You should have copies of your savings and checking account records, insurance policies, retirement plans, tax information, marriage certificate and a prenuptial agreement, if it exists. While your lawyer will probably need more, the sooner you can deliver this information, the easier your divorce settlement negotiation will be.
Source: The Huffington Post, “We’re Getting A Divorce, Now What?” Linda Descano, Feb. 1, 2012