Types of Valuable Assets
Our Athens Georgia marital asset lawyers assist with high-asset Property and Asset Division issues of all kinds, including those that involve intrinsic value property such as:
Family Businesses or Business Interests
Family Businesses and Business Interest are subject to division in divorce if they are deemed marital property by the divorce judge. Even if the family business is inherited, if the appreciation in interests has increased because of efforts of both spouses, the former spouses are entitled to a considerable percentage.
Professional practices, such as medical practices or law firms.
Professional services businesses can only be owned by the licensed spouse, but that doesn’t mean that they are not subject to division in the divorce. The court might order you to pay your spouse an amount of her share if the business is considered marital property.
Inheritances are not considered marital property in the law. They are considered separate property and hence, they are not subject to equitable division in a divorce.
Premarital and Marital Property
The premarital property refers to the property that belonged to you before marriage and is separate. Everything earned during the course of the marriage is considered marital property. Pre-marital property may also be considered marital if its value increased because of efforts of both spouses, and then can be subjected to division.
Real Estate, Including Family Homes, Vacation Property, and Other Investments
Real estate is divided between both spouses either equally or with the percentage ordered by the court. The percentage may also be decided by the spouses themselves with legal assistance.
Stocks, Stock Options, Equity Assets, and Commodities
The spouses may reach an agreement to offset the agreed-upon value of the stock with another asset. The value of the assets is subjected to division; hence the amount can be paid by one spouse to the other in order to retain them.
Closely Held Businesses
Closely held businesses have contributions from both parties and hence are subject to equitable division. However, to retain ownership, the most popular method is to buy off the other spouse’s interests.
Retirement Accounts and Pensions
The retirement benefits and pensions are divided among the spouses either equally or on an agreed percentage. A QDRO is necessary for the division of these benefits in the account of the spouse. Once it is issued, the account is forwarded to the plan administrator.
Benefits Such as Life Insurance, Military Benefits, Disability, and Others
Benefits such as insurance, disability, and others are considered separate and not divisible in divorce. However, the ex-spouse might be entitled to receive some benefits like military ones for a limited time.
Other assets are also subject to division, but the division needn’t be always equal. It depends on a number of factors that are taken into account by the divorce judge. These assets may not be subject to division if they come from the inheritance of one spouse. They include:
- Gold, Silver, Platinum, and Other Precious Metals
- High-End and Antique Automobiles