During proceedings for a divorce in Georgia, the division of marital property is often the subject of disputes, particularly if the couple has significant assets. When these assets include a business, such as a sole proprietorship, a partnership, or a Limited Liability Corporation (LLC), property division can become even more contentious. Dividing business interests in a divorce can have a significant impact on your current and future security, making it important to understand the guidelines the court uses in handling these types of cases.
Even in the most amicable of cases, obtaining a divorce in Georgia can be a complicated process. Before any judgments can be made in your case or a settlement approved, divorce papers must be served on the appropriate parties involved. Failing to file and properly serve the appropriate documents could jeopardize your rights in these proceedings, and can result in your divorce being delayed or even denied completely.
Going through a divorce means dividing assets that you and your former spouse may have spent a considerable number of years accumulating. In addition to real estate, cars, furnishings, and other types of personal property, this involves untangling your financial accounts as well.
You may not see a connection between your retirement accounts and divorce, particularly if these funds were earned specifically by one of the parties and deducted directly from a paycheck. It is important to realize that, as marital assets, they can be divided during a divorce, and included as a part of your property settlement.
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