Divorces cause significant changes to a person’s standard of living as well as their rights to property. In situations where a couple has significant assets prior to seeking a divorce, the outcome of these cases can have a profound impact on their future.
Many people’s primary concern during a divorce is the proper allocation of marital assets – especially in cases involving hundreds of thousands or even millions of dollars. It is essential for either spouse to protect their rights to those items.
An Alpharetta high asset divorce lawyer can navigate court proceedings with those concerns in mind. An experienced divorce attorney from our team can help you file all the necessary paperwork, respond to served papers, and strive to protect your assets every step of the way.
There is a difference between marital property and personally owned assets. For example, a person’s inheritance might not be counted as marital property or subject to allocation during a divorce case.
Alpharetta is in an equitable distribution state, which means that all property which a couple acquires during their marriage is likely to be divided between both spouses upon divorce but is rarely split 50/50. Any dissolution of a marriage must make an equitable distribution of a couple’s shared assets, although this rarely results in a 50/50 ruling. Marital property which must be allocated equitably includes:
When making a determination of equitable distribution, an Alpharetta court must consider the length of the marriage, the contributions made by both spouses, financial circumstances upon the split, and any wrongdoing that may have led to the divorce. An Alpharetta high value divorce attorney can help an estranged spouse understand and prepare for asset allocation during litigation and work toward preserving their property rights.
Regardless of how many assets a couple has prior to filing for divorce, the overall process remains the same. However, those who cannot agree on the nature of those assets generally undergo a lengthier divorce.
All divorces begin with one party filing a complaint which outlines their reasons for wanting to end their marriage and asks the court to rule a certain way on specific matters such as asset division. The other spouse has 30 days to file an official response to establish their position on the matter.
Official Code of Georgia Annotated §19-5-3 defines several viable legal grounds for marriage dissolution, including:
Local judges may consider one party’s poor behavior as a reason to grant more property rights to the other. As high asset dissolution lawyer in Alpharetta can help draft thorough divorce complaints or responses.
Once the court receives these documents, it schedules a series of hearings that give both parties an opportunity to swap evidence. Through the process of discovery, both sides can ask questions, demand documents, and investigate the assets of the other. Especially in high asset divorces, this can be a lengthy and critical process.
Ultimately, a judge holds the final say over the distribution of a couple’s marital property. However, if the parties can come to an agreement independently over asset division, the court will likely accept and incorporate their wishes into a final divorce decree as long as it is equitable. A well-versed legal advocate from our firm can work to meet a person’s goals in a pending divorce.
Local courts have significant discretion when deciding property issues in a high value divorce. An Alpharetta high asset divorce lawyer can help you assert your property rights during litigation. From filing initial complaints and responses that stake your claim to those assets, to performing effective discovery and presenting a final case at trial, an attorney can help you fight for your financial future. Contact our intake team today to discuss your case.