Aspects You Must Understand Regarding Property And Debt Division During Fast Divorce GA

By James Sanders


Fast divorce is an enticing option for most couples that wish to have their marriages dissolved. Ideally, if the partners can amicably agree about different topics, then they can skip the emotional and financial nightmare associated with adversarial proceedings. Even though it is easy to agree on most topics, it can be extremely challenging to make decisions associated with property and debt division. If you want to file for fast divorce GA is an excellent place where you could begin your research.

While it is not easy to mutually agree on certain topics, nothing is impossible. An ideal lawyer will provide the guidance you need through every step and ascertain that you are able to meet in the middle even when dealing with complex topics. Getting the right assistance coupled with the willingness to make compromises will go a long way in ascertaining that your matter does not end up being determined by the family law courts.

Getting some facts straight will make it easier for you to know what to expect of the process. To begin with, you may want to know that there are two types of property in a divorce. The first is community assets and the second is non-community assets. Community property refers to all assets that were attained using money generated during the time of your marriage. Community assets are usually divided during a divorce.

On the other hand, there are non-community assets. This typically refers to property that is solely under the name of one spouse. It could be that your partner received a personal injury settlement or he or she received an inheritance. Any property that falls under non-community assets is normally not considered during the proceedings. It remains in the name of the designated individual.

Most couples battle over house ownership. Well, if you have kids, the partner supposed to live with the children most of the time is typically awarded the family home. In case there are no kids in your marriage, no hard rules apply and you could even decide to sell the house and split the proceeds. Your attorney can again assist in in reaching a sensible agreement.

Agreeing on property division is challenging. It is often even more difficult to agree on debts. Ideally, any credit that you took solely under your name is your own responsibility. Then again, debts accumulated in joint accounts ought to be split in the middle. In case you took credit under your name to purchase jointly owned assets, then this debt should also be divided equally between you and your spouse.

In some cases, a spouse may have cosigned against the debt of his or her partner. In this case the partners must agree on how the debt in question will be paid. This is because you will be held responsible for the debt by the law and also by the involved lender. In case your partner does not pay the debt as expected, then the lender will be allowed to legally demand that you settle the outstanding balance.

It is easy to make mistakes when agreeing on property and debt division. To avoid falling into traps, you must not overlook the need to work with an attorney. A seasoned professional will ensure that you make agreements that will ultimately work in your best interests.




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