Deciding to divorce may be one of the most difficult decisions in a person's life. In Georgia and elsewhere, divorcing couples are faced with the challenge of dividing the marital property the couple has accumulated throughout the marriage. In fact, one reality television star has decided to end her marriage and may face this challenge.
Bethenny Frankel, known as a former television housewife has filed for divorce from her husband. The couple has been married for over two years and they have one daughter. Frankel is also the founder of Skinnygirl and is reportedly worth over $10 million. It has been reported that the couple has a prenuptial agreement.
In Georgia, if couples are unable to agree on property division in their divorce, a court will typically review the couple's assets and divide the property based on an equitable, or fair, distribution. A court will consider numerous factors, including: the length of the marriage and the earning capacity of each of the parties.
Not all property is divided in a divorce; typically, only property that was obtained in the marriage is subject to property division. Marital property may include the couple's home and properties, furniture, cars, investments and retirement accounts. Nonmarital property, property that is not generally divided in a marriage, includes gifts and inheritances made to one of the spouses.
Dividing property in a divorce may be complicated for those deciding to end a marriage. However, it is in the best interests of the couple to come to an agreement so that they may begin their new lives and have a fresh start.