Forsyth County Property Division Lawyer
While there are many couples who will not have to address issues related to minor children and alimony when ending their marriage, all parties to a Georgia divorce must address property division. Because classifying and divvying up assets is so central to the proceedings, it can also be one of the most contentious aspects of your case. Plus, many parties do not initially realize that the debts they accumulated during the marriage must also be distributed according to divorce law. Together, these concepts can make property division an extremely complex process.
Just as with many other divorce-related concepts, you have rights to protect when it comes to property division. Whether you are working out an agreement or taking the matter to court, it is essential to have experienced legal representation on your side. To learn how our team at Buckhead Family Law can serve your needs, please contact us to set up a consultation with a Forsyth County property division lawyer. Some background information may also help you understand the basics.
Unlike many other US states, Georgia has not enacted a statute dictating the distribution of assets in a divorce. There is a law prohibiting transfers of property after filing a petition for divorce, but the basis for property division is the cases that have been determined by judges over time. The law requires that all marital property is subject to equitable distribution, so the analysis of asset distribution is two-fold:
- Classifying Property: Only assets and debts acquired during the marriage are divided between the parties, so you must first classify them as marital or separate. Gifts and inheritances are typically designated as separate.
- Equitable Distribution: All marital property is divided according to the interests of equity, which may not mean an equal 50-50 split. Instead, a court may base a ruling upon the duration of the marriage, each spouse’s contribution to the household and family, and any misconduct that led to the divorce.
In some cases, divorcing spouses can reach a compromise on classifying and dividing marital assets. However, a hearing will be necessary to resolve disputes. The court will conduct the two-part analysis described above to divvy up marital assets, which can be complicated when it comes to valuable assets, high net worth individuals, business interests, and complex ownership structures.
The Forsyth County property division lawyers at Buckhead Family Law team will support you in achieving your goals in divorce. We will assist with negotiating and drafting a fair, equitable marital settlement agreement on asset distribution, but we are also prepared to fight for you in court as necessary to protect your interests.
For more information on asset distribution laws and your options in a divorce case, please call Buckhead Family Law at 404-390-0000 or check us out online. We can schedule a consultation with a Georgia property division lawyer who can explain how the laws apply to your unique situation.
