Property and Asset Division in Georgia

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Property and Asset Division in Georgia

In Georgia, property, assets, and debts are not automatically divided 50/50 — Georgia law requires a just and equitable division of assets — when your marriage ends. The characterization of assets as community or separate property, the number of assets involved and many other factors affect the final outcome of property division in a divorce. High-asset divorces are even more complex, as the nature and structure of the assets can complicate the valuation and division processes.

Whatever is the case, both spouses are entitled to a considerable share of the marital property. Everything that has been made or whose value increased during the course of the marriage is deemed marital property and is subject to equitable division. Here at the Law Office of Samuel E Thomas and Alfred Fargione, our attorneys make sure that you get what is rightfully yours and receive a fair share in the trial.

Comprehensive Strategies from Seasoned Family Law Advocates

If you have complex assets in a divorce, to be sure you are treated in an equitable manner, turn to the seasoned Athens property division attorney at the Law Office of Samuel E Thomas and Alfred Fargione. We serve clients in Athens and throughout north Georgia providing them with the personal attention and honest legal advice they need to navigate through their divorces.

If you have filed for a divorce or received a notice from your spouse, the first thing you must do is seek legal assistance. Going unprepared in a trial can lead to unpleasant outcomes. We can help you create reasonable and well-documented evidence to claim your fair share of marital property.

Family law attorneys Samuel E Thomas and Alfred Fargione work extensively to create and execute effective asset and debt distribution plans for a wide variety of valuable property and assets. and

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
Professional practices, such as medical practices or law firms.
Inheritances
Premarital and Marital Property
Real Estate, Including Family Homes, Vacation Property, and Other Investments
Stocks, Stock Options, Equity Assets, and Commodities
Closely Held Businesses
Retirement Accounts
Pensions
Benefits Such as Life Insurance, Military Benefits, Disability, and Others
Trusts
Artwork
Jewelry
Gold, Silver, Platinum and Other Precious Metals
Livestock
High-End and Antique Automobiles

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

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:

Trusts
Artwork
Jewelry
Gold, Silver, Platinum, and Other Precious Metals
Livestock
High-End and Antique Automobiles

Property and Asset Division in Georgia

When it comes time to divide valuable assets in a divorce, it is vital to have an experienced lawyer on your team. Samuel Thomas and Alfred Fargione help high-asset divorce clients protect their interests, receive an equitable share of marital property, and to keep the separate property from being awarded to their spouses.

Drawing on the experience of our family law attorneys, we craft innovative divorce solutions for clients throughout Georgia. We work closely with financial experts and forensic accountants to ensure property is equitably valued and classified before the division process takes place. Based on this information, our attorneys custom-tailor their representation to your exact circumstances and to your specific goals.