Important Issues in High Asset Divorces in Georgia
Going through a high asset divorce in Georgia is complicated, stressful, and requires diligent and experienced attention to detail. On top of child custody issues, emotional tolls, and the overwhelming urge to move on with your life, at Buckhead Family Law, we understand that the division of assets is a very important aspect of the divorce process that requires your full attention.
Lofty finances and assets can include real estate, businesses, stocks, deferred compensation and equity incentives, inheritances, and much more. So, if you are going through a high asset divorce, you need an experienced divorce attorney who will look out for your best interests and guide you through the process. The assistance of a forensic CPA may also be advantageous in your case.
Divorce and organization go hand in hand. Having everything together and gathering all of the paperwork that you need requires some time, patience, and organization. But before you begin contemplating filing for divorce, it’s best to get all of the documents that you need together, and make sure you don’t skip over anything. A good place to start is with your tax documents, but obviously, your document list will be extensive in a high asset divorce.
Once you have spoken with an attorney experienced in high asset divorces, you will have a better idea of what you will need moving forward. Some of those items will include trust agreements, prenuptial agreements, postnuptial agreements, tax records, bank statements, business records, and more. Being thorough with your paper trail is important.
In many cases, privacy matters. This may impact your life if you are the face of a business or have a public-facing career. You don’t want all of your marital issues on display for all to see. Maintaining a level of discreetness may help you to proceed through the divorce process more quickly and efficiently. Proceeding through arbitration rather than the public courts may be a better option for your family when dealing with the unique issues presented by a high asset divorce.
Underhanded, Sneaky Steps
When going through a high asset divorce in Georgia, it is likely that one party will try something a little underhanded. Your soon-to-be ex-spouse may try to hide money or assets, “lose” or omit information pertaining to an important account, or take actions that are not fully appropriate or honest. And unfortunately, without an experienced good lawyer on your side, they may get away with their dishonest acts.
It’s important not to be sneaky or underhanded because this can result in you appearing dishonest before the court or not getting what you want due to your less than reputable actions. The best approach in a high asset divorce is to be strategic but not underhanded.
Spousal Support Issues
Spousal support or alimony plays a big part in a high asset divorce in Georgia. This issue often occurs when one person makes far more money than the other, and the less fortunate party hasn’t quite landed on their feet just yet. Spousal support can last for a set length of time and may be modified at a later date depending on the case.
Another thing to consider when navigating through a high asset divorce is your tax burden. Taxes are a legal obligation for us all, so you need to prepare for them.
When you get a high asset divorce, your filing status changes, and you will need to understand the legal ramifications. Additionally, some of the things you receive in your divorce may be subject to capital gains, which will be a tax liability in the future.
It is important to keep yourself educated about tax issues and guarantee that you have a knowledgeable accountant on your side.
Going Through A High Asset Divorce in Georgia? We’ll Help
If you need help managing your divorce and breaking down your assets, our team of legal experts is here to help you. At Buckhead Family Law, our experienced legal team can ensure that you get the compensation you deserve so you are not taken advantage of. Schedule a consultation today by calling at 404-600-1403.