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Uncontested Georgia Divorce in 2023

Uncontested Divorce in 2023

Uncontested Divorce in Uncertain Times: A Benefit During an Economic Downturn

An economic downturn can be a nationwide condition or a financial condition in a single family. If one of you has lost a job and is having difficulty getting new employment, even if the American economy is booming, it is a major downturn for the individual and his/her family. When you are not fully employed with dignity, you are in a recession.

During these times, if you and your spouse are considering divorce, an uncontested divorce may be the best option. While every situation is different, an uncontested divorce can be cheaper, faster, and easier than a contested case. It is a way to move on and repair your life and finances with minimal harm.

Benefits of an Uncontested Divorce During a Recession

Child support and alimony depend on a party’s income and the standard of living maintained during the marriage. So, if your income is lower, that will also cause child support and alimony obligations to be lower. Additionally, the party who retains the financial accounts or real estate will take a smaller loss because of the lower value until the economy recovers and values increase. They will then gain more in the long run.

Downside of a Divorce During a Recession

The party with a lower income may come away with fewer assets after the property division. Both income and the value of assets will decrease during a recession. Therefore, divorcing during a recession can result in the party with the lower income receiving smaller amounts of alimony, child support, and division of property.

Parties Must Cooperate in an Uncontested Divorce During a Recession

Just as at any other time, an uncontested divorce in difficult economic times requires some cooperation between the parties.

If you are considering a divorce, it is smart to develop a strategy with your partner before you begin the divorce process. It is essential that you honestly and fully discuss the financial issues that you both can expect to be a part of the divorce and try to agree on the outcomes that benefit you both (or at least reduce the financial harm to each other).

Contact Us About Your Upcoming Divorce

If you wish to discuss how the economy may impact your divorce or develop a strategy with an experienced family law attorney, contact us today. We can provide guidance and help you through the process.