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.

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.

It remains imperative for you to understand a few facts about property and debt division. First, you should know about the two kinds of assets that are involved in a divorce case. There are community assets which involve everything that was acquired during the period of your union. During divorce, it is the community assets that get divided among the partners.

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.

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.

Getting to an agreement about debts and credit can be nerve-wracking. Even in a no-fault divorce, couples tend to have issues when deciding who will settle the debts. Normally, any debt that is solely in your name is your personal responsibility. On the other hand, debts in joint accounts are supposed to be divided equally. Even so, a debt under your name only that was used to acquire jointly owned property should be divided.

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.

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: