A spouse who wants to protect separate or nonmarital assets upon divorce may place their property in a trust. While a trust can be an effective alternative to a prenuptial agreement, an individual must follow certain legal procedures to ensure that their trust is valid. If a spouse attempts to shield or hide their assets in a trust so as to disadvantage their spouse during the divorce process, they may be found guilty of fraud.
Trusts have become a prominent battleground in divorce proceedings as client try to protect their assets in a trust or try to access trust assets for distribution. At Boyd Collar Nolen Tuggle & Roddenbery, our attorneys have extensive and nuanced experience in both safeguarding and challenging trusts within divorce litigation.
In our practice, our attorneys frequently handle unique property issues such as vehicles and pets on behalf of our clients. Drawing from our extensive experience in these areas, there are several important factors to keep in mind.
Often in a divorce, each party gets to keep the vehicle they are currently driving, and they will be responsible for the debts, maintenance, insurance, fuel and other expenses related to that vehicle.
Deciding which spouse will get the pets after a divorce can be one of the most contentious issues in the divorce process. While some pet owners consider their pets to be part of the family, Georgia treats them as marital property, so the rights to pets will be included in the divorce settlement or judicial order.
In determining which spouse will retain ownership (custody) of the pets, courts will consider the following: