Facts You Should Know About Dividing Property And Debt During Fast Divorce GA

By James Sanders


More and more couples are currently choosing agreed divorce over its combative counterpart. Such proceedings are quick and cheap and you can save yourself from going through emotional and financial turmoil when trying to get your marriage dissolved in a legal manner. While there are numerous topics that must be agreed upon before partners can go their different ways, one of the most complex topics that needs to be tackled is assets and debt division. If you are interested in fast divorce GA could provide you with numerous dependable attorneys who could offer the legal representation you need.

It is possible to come up with mutually agreeable solutions without getting into a tug of war. A reliable attorney will be there to guide you through each step and will generally ensure that you and your spouse are able to meet in the middle and make fair agreements. With the right assistance and the willingness to compromise, it will not be necessary for you to have decisions made for you by the family law courts.

You will need to get well acquainted with some facts regarding asset and debt division. Usually, there are two types of properties and the first is community assets. This refers to the wealth you accumulated during the time you and your partner were married. Community assets should always be divided equally among the spouses.

Non-community assets are properties that are specifically under your name or the name of your partner. Such properties are not divided and they remain in the ownership of the designated individual. Non-community properties can include inheritances or even personal injury settlements paid to a specific spouse.

It is normal for couples to fight over home ownership. Well, the partner who is supposed to stay with the kids most of the time will usually get the family house. If your marriage was not blessed with kids, then you could agree on who gets the home. To avoid confrontations, most couples decide to sell the house and split the earnings.

Settling matters of credit and debt can be challenging. Well, you may want to know that debt that is under your name is your sole responsibility. However, debt under joint accounts should be split equally between you and your partner. In case you used an account under your name to possess jointly owned assets, then the matter can be reviewed and the debt will be shared.

When a spouse consigns against the credit of a partner, he or she will be legally obligated to get the debt settled in case the spouse fails to make repayments as expected. The lender that is involved will therefore pursue you to have the debt repaid. It is best to discuss about such debts and make solid agreements before parting ways.

The chances of making mistakes when negotiating about property and debt division are usually very high. Because of this, you cannot afford to work without an attorney in your corner. An experienced specialist can help you dodge blunders that can haunt you for the rest of your life.




About the Author:



No comments:

Post a Comment