At Tessie D. Edwards & Associates, we understand the complexities that arise in high-asset divorces. A crucial factor to consider is Georgia’s equitable distribution laws. Unlike community property states, where assets are divided 50/50, Georgia operates under an equitable distribution system, meaning assets are divided “fairly” but not necessarily equally.
Navigating High-Asset Divorce and Asset Division
In a high-asset divorce, determining what is fair becomes particularly challenging. High-net-worth individuals often have complex financial portfolios that include real estate, investments, businesses, and retirement accounts. Georgia law considers factors such as the duration of the marriage, the financial condition of each spouse, and each party’s contribution to the marital assets when determining a fair distribution.
The Role of Separate Property in Georgia Divorces
Another significant aspect is the distinction between separate and marital property. Typically, any assets acquired before the marriage or through inheritance or gifts (even during the marriage) are considered separate property. However, the line can blur, especially with high-asset cases, if separate property has increased in value due to actions taken during the marriage. Determining what constitutes separate property in Georgia can significantly impact the asset division outcome.
Potential Complications in High-Asset Divorces
High-asset divorces can be complicated, especially when one spouse owned a business before marriage that increased in value over the marriage’s duration. The increase may be considered marital property and subject to division. Furthermore, determining the value of certain assets, like a privately held business or complex investments, may require professional evaluation. These complications make it crucial to have legal assistance well-versed in Georgia’s equitable distribution laws.
Retaining Legal Counsel in High-Asset Divorces
When dealing with a high-asset divorce in Georgia, it’s essential to have skilled and experienced legal representation. At Tessie D. Edwards & Associates, P.C., we are equipped to handle the complexity of such cases. We understand the financial implications and strive to ensure a fair division of marital assets while prioritizing your interests. Our collective experience spans across areas of financial analysis, property valuation, business and tax law, and more, ensuring we can provide comprehensive representation for high-asset divorces.
Contact Tessie D. Edwards & Associates
If you’re dealing with a high-asset divorce and need guidance through Georgia’s equitable distribution laws, don’t hesitate to reach out to us. When you work with a dedicated attorney at Tessie D. Edwards & Associates, P.C., we use every available strategy to achieve your goals and develop a support plan to meet your needs. Call us at (404) 330-8833 for a confidential consultation to learn more about how we can assist in your case.