In Georgia and elsewhere, couples are facing the financial and emotional
challenges of divorce. For most couples, many questions arise regarding
property division and the possibility of spousal support. A movie actor
and his wife must begin the difficult task of sifting through these family
law topics after recently filing for divorce.
Oscar winner Russell Crowe and his wife of nine years recently announced
they are seeking a divorce. The couple's property assets are estimated
to be worth $50 million. This includes millions of dollars for each of
their two sons. Together, the couple owns a penthouse and farmland worth
more than $10 million; they also have an investment in an Australian football
club and a beef production company. Russell Crowe has reportedly earned
over $100 million for his acting roles. There have been reports that the
couple signed a prenuptial agreement, which includes a stipulation that
if the couple did not divorce within three years of being married, Russell
Crowe's wife would receive at least $15 million.
One of the main concerns for many divorcing couples is property division.
In Georgia, property is divided on an equitable standard. It is in the
best interest of the couple to come to an agreement on how to divide their
property; if they are unable to agree, a court must decide what is most
fair to the parties. Only marital assets, which are assets that were accumulated
during a marriage, may be divided. Gifts and inheritances are excluded.
Marital assets generally include income earned and property obtained during
While divorce may be contentious and frustrating for couples, it is the
opportunity to create a new life for each spouse. It is important that
each spouse understands their rights to marital assets as they create
two different households from one.