Tag: divorce

The Rings, After the Divorce

in Divorce

There are a lot of decisions that have to be made when a couple decides to divorce.  There are marital debts and the division of assets that must be discussed and negotiated.  What do we do with the wedding videos, pictures and other momentos? Do I hold on to the dress? Who gets the dog and who gets the cat?  I want the sofa and you want the bed. One of the things that often gets overlooked is what to do with the rings. The wedding rings hold a great deal of symbolism and quite possibly, monetary value.  

There are lots of options for dealing with now unwanted wedding rings and lots of questions as well.  Does the woman automatically hand her wedding rings back to her soon to be ex considering that he gave it to them.  Do exes keep the rings to give to their children one day when they get married? Do they go down to the nearest pawn shop or jewelry store and ry to get as much monetary value from them as possible.  Honestly, there’s no one right answer. What works for you may not be what someone else does and you have to make your own decision based on your personal feelings.

All things considered, what are my options?

The feelings you have about your wedding rings are very personal.  Some people may look back and remember, “the good times” in the relationship.  Some people, especially those with children may want to hold on to the ring(s) to pass down to children due to sentimental value.  On the other hand, if your marriage was tumultuous, stressful or even abusive, you may have no desire whatsoever to hold on to a reminder of just how tough things were.  

Here are some possible options for what to do with your rings:

  • You can always give the ring back to your spouse.
  • You may save the rings and give them to your children when they decide to get married.
  • You can sell the rings and use the money to make some positive steps like paying off debt, investing in yourself, or buying something special.
  • You can have the ring melted down and used to created a new piece of jewelry.
  • You can sell the rings and donate the money to charity, especially if you were in an abusive relationship.

Even if the rings remind you of a bad marriage, it doesn’t mean you should toss them into the nearest body of water. They’re likely worth some money, so it’s more productive to sell them and use the money for something positive.

If you find your marriage is struggling and you and your spouse have decided to end it, give the attorneys at Harmon and Gorove a call today to discuss how we can help you file an uncontested divorce to end your marriage in an amicable and cost effective way.

Bankruptcy and Divorce: They often go hand in hand

in Bankruptcy

Financial problems are often a source of major problems in a marriage. Many couples in Georgia have found themselves facing the prospect of divorce at least in part due to unsustainable debt or different spending habits. Many couples choose to file a Chapter 13 bankruptcy in an effort to save their marriages from divorce.  Unfortunately, this decision doesn’t always end up working out and leaves divorce as the only option. Divorce can leave the parties wondering how their bankruptcy will be impacted.

There are several factors that play into the options for people facing divorce in this situation. Bankrate states, some people may be able to convert their Chapter 13 case to a Chapter 7. Another important thing to consider when looking at your options is whether the case was filed as a joint case or a single case.

There is a different set of circumstances for those who did not begin their bankruptcy proceedings before deciding to get divorced.  Those people will need to look at which type of bankruptcy plan is best for them according to a blog called My Horizon Today. The types of debt, the new incomes of the divorcing parties and the expenses incurred by new living situations are just some of the factors that will contribute to this decision.

Another important thing to think about during this time is how well the divorcing couples are able to work together to achieve their financial goals. If the divorce is not amicable and the former spouses are unable to communicate, a Chapter 13 bankruptcy might not be the best idea. However, for divorced couples who can get along and communicate, this type of plan may be the best thing for them even though they would likely have to communicate and work together through the 3 to 5 year bankruptcy term.

If you find yourself facing debt problems that could potentially lead you to divorce or you are divorcing and find your new financial reality untenable, contact the compassionate attorneys at Harmon and Gorove. We offer same day appointments and free consultation so we can show you how we can help you achieve a new level of financial freedom and get your life back on track.