Nascar Driver Divorces Arrives At Equitable Settlement
Posted on May 10, 2013 12:00am PDT
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.