Family law rules and standards – while generally sharing many similarities – are far from being unvaried in their substance and application among the various states.
Celebrity cases, owing to their media prominence, sometimes serve to readily point that out. Much is being said in news stories presently about what looks to be the likely divorces of Courteney Cox and Christina Aguilera. These wealthy women were married to their spouses, and will probably be divorcing, in California, which is a community property state. The law there presumes that in property division matters, absent an instrument such as a prenuptial agreement, the assets a couple acquired during marriage will be split evenly.
Georgia is not a community property state. Rather, it is an equitable division state, which doesn’t necessarily equate to a 50/50 split of assets and debt in a divorce settlement.
There can be many property division factors at play in a Georgia divorce, and a number of things to consider. For example, questions such as the following often need to be asked and resolved: Is it marital or separate property? What about the house, vehicles and household furnishings? Have all tax consequences been considered? Have all retirement accounts, pensions and investments been identified and properly valuated? Is there a family business involved? Are there additional complex and/or high-value asset division concerns?
An accomplished family law attorney with experience in asset and property division can answer questions, identify concerns and help an individual or couple create a sound strategy for addressing relevant property division matters in a divorce.
Related Resource: www.x17online.com “Christina Aguilera and Courteney Cox Divorces: What’s at Stake?” October 12, 2010