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March 2014 Archives

Complications of asset division in high net worth couples

High net worth individuals in Georgia face complications during their divorces that are not common to everyone. These individuals may have assets such as hedge funds and venture capital funds that are not liquid and therefore cannot easily and equitably be divided. Some people may attempt to hide certain marital property so that their spouse cannot ask for their share in a divorce. These are just some of the reasons that asset division is particularly challenging during high net worth divorces.

Extended support for education in a divorce agreement

Traditionally, child support extends until children reach the age of 18. Georgia residents might know that parents may decide to assist their children pay for higher education. This decision to support their child's education may be part of a divorce agreement detailing provisions for payment.

Insurance benefits after divorce

Marriage carries with it a lot of benefits, such as health insurance from a spouse's employer. If a marriage breaks apart, some people may see these benefits as the only thing stopping them from filing for divorce. People with preexisting conditions in Georgia may feel like they depend on their spouses' health insurance plans. Family law attorneys hope that with the implementation of the Affordable Care Act, fewer individuals will feel compelled to stay in a poor marriage just for insurance.

Pet custody included as a divorce legal issue

Family law attorneys in Georgia and around the country may have noticed that in divorce courts, more spouses are fighting over who will keep the cats and dogs. Since animal companions obtained during a marriage are considered marital property in the same legal category as a car or a piece of furniture, state property division rules are applied to them as well. Dogs were the most fought-over pet, with 88 percent of the total reported in a survey by the American Academy of Matrimonial Lawyers. Cats ran a distant second with just 5 percent of the total.