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.

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.

Fights over home ownership are not new. Even so, you may want to understand that the spouse who is required to have custody of the children most of the time always gets the house. If your union did not bear any children, then the topic has to be negotiated upon. In case it is challenging to make a decision, then you can always opt to have the house sold for you to divide the proceeds.

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.

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.




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