Separation Of Marital Assets in Alpharetta, GA
Property & Debt Division
Whether you have been married for 30 years or 10, it is likely you will have to divide assets and debt during your divorce that may require complex calculations and creative thinking. Additionally, if you owned assets prior to your marriage or contributed pre-marital money to a marital residence, separating your marital estate may be even more complex.
Protecting Your Assets in Divorce
At The Millard Law Firm, we understand the stress that divorce can bring to all parties involved. Whether you are concerned about keeping very specific assets or property or you simply want to ensure you get your fair share, our firm is here to help. We are committed to protecting your assets and ensuring your spouse does not try to take more than what is fair or hide assets from you during the divorce process.
A few examples of marital property that is divided in divorce include:
We have extensive experience valuing marital property and representing divorcing parties in the property division process. Regardless of whether you have significant assets or a small estate, consulting with a qualified Alpharetta divorce lawyer is in your best interest. We are dedicated to protecting your rights throughout every step of your divorce.
High Asset Divorce
In Georgia the courts attempt to distribute assets in a “fair and equitable way” during a divorce. However, this does not mean that all your assets will be divided evenly since they will be valued separately. The courts take into consideration who the original owner was. High asset divorce cases can be very and instese complex cases. In these cases one spouse has a higher financial standing than the other, this can make the spouse on the opposing side very tenacious to obtain partial or full ownership of all assets.
If you are divorcing and have highly valuable assets on the line, reach out to one of our attorneys immediately!
Our Alpharetta divorce lawyers have vast experience handling high conflict legal cases that include the division of high net worth and retirement accounts. We dig into the technicalities of your case and analyze the different factors that may affect the decision-making.
Division of marital property & Debt Allocation
What qualifies as a marital asset? Cars, real estate, stocks, bonds, investment, financial assets, pension, retirement funds, businesses, and business interests can all be considered marital assets subject to division during divorce. Separation of marital property can be a very complex procedure requiring calculations and creative thought. The complexity depends on whether or not you’ve owned assets before marriage.
Debt Allocation in Georgia
Debt allocation refers to the division of marital debt during a divorce. Much like separation of assets, debt that has been acquired during the marriage must also be separated upon divorce. What is considered marital debt? Marital debt refers to the sum of debt acquired during a marriage. Debt acquired before marriage from either spouse is considered separate debt.
In Georgia there is no set way that marital debt is divided. Each case is different and there are various factors that determine how that will be allocated during divorce. Spouses responsible for accumulating most of the debt during the marriage, current income, and ability to repay the debt are all factors that a judge will use in order to make a ruling over how the debt will actually be separated.
Arrange a Case Consultation Today
Without the support from a skilled family law firm, parties could give away equity that is actually their own separate property or assume a debt that is not their responsibility. Whether you have many assets or too much debt, please feel free to contact The Millard Law Firm today at (678) 319-9500 for a case consultation.