According to the CDC, the number of divorces each year top over 746 thousand. High asset divorces are where one or both spouses have complex, high incomes that require a complicated division of assets. If you embark on a Georgia high asset divorce, you will need a Georgia family attorney to represent you. A Georgia family lawyer will keep you up to date on the most critical points of your high asset divorce proceedings, ensuring the division of assets is swift and fair.
Money can be divided evenly based on earnings and prenuptial or marital legal agreements. However, the complexity of high asset divorces comes with some assets that aren’t so easily split in two.
Joint ventures such as accounts, businesses, stocks, mutual funds, trusts, real estate, and retirement accounts are examples of assets that spouses have joint ownership of and require complicated divisions. Georgia family attorneys must determine the value and then contributions, payouts, income, and disparity in assets before claiming in the case for dividing the assets along legal lines.
Open assets are assets that are owned by one or either of the spouses separately. These assets are recorded and presented to counsel. Open assets, though easier to access and reconcile, must still be divided per legal agreements.
Hidden assets are just that, undisclosed. In some cases, concealment is by accident, but often it is purposeful. It is essential to keep in mind that if hidden assets are found, fines will be implemented, and, often, other rulings will be made not in favor of the dishonest party. Hidden assets can also prolong the length of proceedings.
Another reason to bring in experienced, professional legal counsel in a Georgia high asset divorce is familiarity with such cases. Working with lawyers who have experience in high-profile proceedings ensures that privacy will be a priority to maintain integrity.
If you are maneuvering a high asset divorce, our lawyers can help you secure the case results you want. Contact O’Driscoll Keller Law Group, LLC in Georgia today.