Atlanta Equitable Division of Property & Debt Attorney
Family Law Firm Serving Georgians in Cobb, DeKalb, Gwinnett, Forsyth & Fulton Counties
Marital property and debt division is often a disputed matter in Georgia divorces. It can also be extremely complex, especially in cases where the couple has been married for a long time, many and varied assets have been acquired, family or spousal-owned businesses or professional practices have been created, and high net worth has been built over the life of the marriage. Unless you and your spouse have a valid prenuptial or postnuptial agreement that details how assets and financial matters are to be handled in a divorce, this issue will need to be resolved through negotiation and mediation or in court.
Rob Wellon has a 40+-year background as a skilled trial attorney who understands all aspects of Georgia divorce law, how to build comprehensive cases, and how to present them convincingly to the court. You can rely on the knowledge, skills, and dedication he brings to every client. He understands how important this issue can be to your future financial security. You will want your divorce to result in optimum circumstances, and your ability to transition to a new life as an unmarried person may depend on it.
Discuss your case with our lawyer in a free initial consultation. Contact Rob online or at (404) 856-3241.
Georgia’s marital property division policy is designated as “equitable,” which means dividing as fairly as possible but not necessarily equally. This differs from “community” property in a handful of other states that divide property evenly.
The first consideration in dividing marital property in this way is to determine what is part of the marital estate and what is not. Property that was acquired in your name only and titled to you before your marriage, as well as inheritances and gifts given only to you during the marriage, are considered “separate” property and not subject to division. The exception to this is if these separate assets/property were “commingled” into the marital property through earned appreciation, paydown of loans, or other actions.
The marital estate consists of assets and property such as:
- The family home and other residential or commercial real estate
- Bank accounts
- Stocks and bonds
- Other investments
- Expensive art, jewelry, or collectibles
- Retirement accounts
- Business interests, family-owned businesses, and professional practices
- Any other significant assets
In complicated cases, the assessment and advice of other experts may be needed, such as CPAs, forensic accountants, business valuation experts, appraisers, and tax consultants. Hidden assets may need to be located and identified. Retirement and pensions may require additional legal steps to be completed so that division and distribution may occur.
How is Property & Debt Division Decided?
Courts will look at many factors in determining what is equitable in this matter.
These factors can include but are not limited to:
- Ages and health conditions of both parties
- What each party contributed to the marital estate in terms of assets
- What each party contributed to the marriage in terms of service
- The length of the marriage
- Income, financial resources, and earning capacities of each party
- The financial needs of both parties
- Whether either party squandered assets without the knowledge or consent of the other party
- How debts were accrued and by whom
- Any other factors the court deems pertinent
Protect Your Financial Interests
with Experienced Representation
Marital property and debt division can be a challenging and complex issue. Ensure your future is protected with representation from Rob Wellon, who has successfully helped thousands of Georgians for over 40 years.
Complete an online contact form or call (404) 856-3241 today.