Can a prenuptial agreement determine how our marital property will be divided if we divorce? How do we determine marital property division? Divorcing couples in Mariettta and elsewhere may be asking these and other questions through the divorce process. A NASCAR star who just finished the divorce process may have also asked these questions as she and her former husband discussed their marital property.
NASCAR driver Danica Patrick has obtained a dissolution of marriage from her husband. The couple married in 2005 and do not have children. The couple reportedly signed a prenuptial agreement. According to the couple's divorce documents, the couple used a mediation process to come to a "fair and equitable" divorce agreement.
Couples may consider using an alternative dispute resolution process to arrive at a divorce settlement. Divorce settlements will address specifically how the marital property will be divided. In Georgia, if couples are unable to agree on marital property division, they may seek a court order. The court will decide property division based on an equitable distribution of marital property. It is important to understand that this does not necessarily mean the court will divide the property 50/50. Instead, the property will be divided based on factors that may include the financial circumstances of each spouse and the length of the marriage.
It can be complicated, and at times aggravating, to try to determine who gets the dresser or who gets the car that a couple has purchased together. However, with a positive attitude and a cooperative mindset, the transition after divorce may be brighter.