Marietta Property Division Lawyer

Marietta Property Division Attorney

If you are preparing to divorce in Marietta, this process requires addressing multiple issues, and one of the most contentious is likely to be property division. It’s common for divorcing couples to disagree when it comes to dividing marital property, and it’s important for both parties to understand Georgia’s property division laws. A Marietta property division lawyer at Young Law Firm, LLC, can be a valuable asset for handling this aspect of your divorce.

Determining and dividing marital property is a complex problem that can be emotionally draining for divorcing spouses. Dividing this property requires long-term planning and a thorough understanding of divorce, financial planning and tax law.

Regardless of the value of marital assets, you need an experienced attorney willing to fight to get you the best resolution. Thankfully, you do not have to solve this problem alone. Since 1985, Diana Whipkey Young has earned a reputation for helping people in Georgia successfully divide their assets and protect their financial futures.

Our attorney, Diana Whipkey Young, is more than just a divorce lawyer in Marietta. She is also a proven trial attorney with more than 40 years of legal experience. She will prepare your case for the courtroom if negotiations fail, she is ready to litigate on your behalf. When your 401(k) accounts and retirement assets are at stake, she will do everything in her power to defend your lifestyle and property. You can schedule your free, 30-minute initial consultation at our Marietta office by calling us at 770-795-9596.

How Is Property Divided In A Divorce In Georgia?

Only marital property is subject to the equitable division of property in a divorce. Marital property includes anything acquired during the marriage, such as a familial home or debts accrued. Generally, the property acquired before marriage, inherited or received from third parties as a gift is not considered marital.

The judge or jury in your divorce case will determine what real and personal property is marital. While nonmarital property is not considered in property division cases, it may be taken into account when making other decisions, such as determining alimony.

In Georgia divorce proceedings, marital property must be divided equitably. Equitable means what is fair. There are many factors that the court may consider in determining what is appropriate, including how much each spouse contributed to obtaining the property, the length of the marriage and a variety of other factors. Because the judge plays such a critical role when dividing property, it is beneficial to have a lawyer by your side who can effectively make your case.

Under the equitable distribution rule, it is important to understand that property division entails more than just the total amount of marital property you and your spouse control. When determining what would be the most equitable division of marital property, the court will need to consider how much income each spouse earns, their future earning capacity, and the amount of separate property they each control.

One spouse may receive a larger share of marital property to account for lower income or lower earning capacity. It is also possible for the divorce to entail an alimony determination. After completing property division, the court may determine that one spouse needs financial assistance to manage their new living conditions and maintain their standard of living after divorce.

Your Marietta property division lawyer can explain all the various interactions you should expect between property division, alimony, and other aspects of your divorce case.

Property Division: What Can And Cannot Be Divided

As an equitable division state, Georgia divides marital assets fairly based on the divorce circumstances rather than a strict 50/50 split. Divisible marital property includes assets acquired during the marriage. Examples include:

• Retirement accounts
• Joint savings and investments
• Homes and large assets acquired during marriage
• Vehicles acquired during the marriage
• Business interests developed or expanded during marriage
• Pensions accrued during marriage
• Stocks, bonds or other financial assets

However, certain types of property are not considered marital. Examples include:

• Inheritances or gifts received by one spouse
• Property owned before marriage that was not substantially changed using marital assets.

Mediation and negotiations can help ensure high-value assets remain intact. For instance, one spouse may trade their share in a business to keep the marital home or agree to a buyout for their portion of an asset. This approach can minimize disruptions and allow both parties to achieve their financial goals.

While there is some flexibility in negotiating property division in divorce, it is important to understand that these negotiations require oversight from an experienced attorney if you want to ensure your financial future following divorce.

It is important to consider not only the things you must resolve in your divorce case but also the future implications of your divorce, and a Marietta property division lawyer can help you make more informed decisions.

Additionally, some divorce cases are hotly contested. While it is possible for some divorcing couples to explore mediation and other forms of alternative dispute resolution to effectively streamline their divorce proceedings, it is not always a viable option. If you and your spouse cannot agree on anything and either one of you is unwilling to negotiate, you will need to resolve property division through divorce litigation.

Understanding Financial Disclosure in Divorce

One of the most important elements of any divorce will be financial disclosure. Both of the divorcing spouses are required to submit complete and accurate financial records that show all of their assets and liabilities. Your Marietta property division lawyer can help you complete this submission and address any discrepancies between you and your spouse’s records.

It is imperative to be truthful with your financial disclosure statement. While it is natural to want as much as possible out of your property division determination, any attempt to hide assets in divorce proceedings can lead to severe consequences. If you suspect your spouse has hidden assets, your Marietta property division lawyer can help you prove the truth of the situation.

A spouse found to have intentionally hidden assets from the financial disclosure process can potentially face contempt of court, fines, and even jail time. It is also likely that the court will find them responsible for the other spouse’s legal expenses.

Divorcing spouses may attempt to use offshore accounts, make large loans to friends or relatives, or ask their employers to hold bonuses or commissions until after they divorce to shield assets from divorce proceedings.

Securing Your Complex And Valuable Assets

Complex assets, such as a business, investment account or investment properties, are often not easily divided in a divorce. These intricate assets often become the basis of litigation because both parties may feel strongly about what they deserve. If you face a complicated property division matter, you need the skills of an experienced attorney who will fight for you.

At Young Law Firm, LLC, our in-depth investigation and analysis help us get to the facts in the valuation and the subsequent division of complex assets. We work hard to find hidden assets and identify any “off the books” revenue streams. Our lawyer will aggressively pursue your deserved assets and fight to safeguard your property.

Learn More By Contacting A Marietta Property Division Attorney

For reliable and experienced representation from a Georgia property division divorce lawyer, call our law firm at 770-795-9596 or contact us online to set up your 30-minute initial consultation. Our Marietta office represents clients in Cobb County, Paulding County, Bartow County and Cherokee County, as well as the surrounding areas. We return all messages promptly.