Property Division Related Questions
If someone lives in Georgia, and is facing divorce, can the spouse filing for the divorce seek alimony and child support against the business?Many states are equitable distribution states and Georgia is one of these states. What this means is; all marital property is subject to fair distribution. However, property that has been gained as a gift or by inheritance cannot be part of the distribution. A 50/50 split is not always the outcome of an equitable distribution. There are generally a couple of factors taken into consideration to conclude what a fair distribution might be.
As far as the alimony, the court usually determines the amount. After the alimony has been set, the amount can be modified if financial situations change or if both parties can agree to a modification. Marital fault usually doesn't play a part in the decision to award alimony.
How can my family settle a property division when one of the siblings refuse to agree?Usually if parties involved cannot come to an agreement, a mediator will be brought in to assist and resolve the settlement. In the event the mediator doesn't resolve the settlement, the parties go to court to determine rights. Generally, if this goes to court, a judge will either split the property between the parties or order the property to be sold and the money to be divided among the parties. One of the parties could place an offer to buy the other parties share of the property in order to settle the property division and stop any further legal expenses.
Do you know the laws for Division of Property in a divorce settlement for the state of Georgia?In Georgia, if a couple cannot agree on the division of property, a judge will distribute the assets equitably. This doesn't always mean a 50/50 split. While the court will distribute marital property in this fashion, non-marital property isn't. Generally, the court looks at each spouses future needs, income and assets when deciding how the division of property will be split.
Is division of property or retirement mandatory in a military divorce, even if your only married for less than 2 years?When you divorce, the laws of the state where the divorce was granted will control how division of property will work. The length of your marriage has no bearing on how division of property will work. All property that is obtained during the marriage is considered marital property and is subject to division of property. The only exception to this rule is an inheritance or any gifts that either spouse has acquired during the marriage. However, if the gifts comingle with other marital property, it will be considered marital property and subject to division.
Concerning the division of property among full and half brothers and sisters when one dies, what percentages would each sibling get? I live in Kentucky.Kentucky laws state that if a person dies and doesn't have a will, that person's assets will go to their children. If the deceased has no children, the estate will be passed to the deceased person's siblings. Siblings who are half-blood (half brother or sister) will receive half as much as the full blooded siblings.
Division of property is generally connected to divorce. However, division of property can also play a role in a person's will. Many people are unfamiliar with how division of property works. If you are facing a divorce and want to learn more about division of property, you should ask an Expert for assistance.