Allocating and distributing marital property can present significant challenges in any divorce. You and your spouse may have vastly different ideas on how best to distribute the property you have accumulated during your marriage. Moreover, how your property is divided will dramatically impact your life in the years following a divorce.
It is critical to hire a lawyer who can manage this potential conflict and create workable solutions.
For a quarter-century, Atlanta property division attorney Bruce Steinfeld has devoted his professional life to helping people who are facing all types of complicated family issues. His experience, knowledge, and skill have led to positive outcomes for people across the region. More than a lawyer, Bruce strives to counsel and educate his clients about the various issues they are likely to face while their divorce is pending.
Dividing Marital Assets
In Georgia, all marital assets are equitably divided. It is perhaps easiest to define marital assets by what they are not. Generally speaking, property acquired before the marriage, or property acquired through a gift from a third party or inheritance, is not marital property. All other property is presumed to be marital property. While most judges will strive to make a 50/50 split of all marital property, it is crucial to understand that "equitable" and "equal" are not necessarily synonymous. Judges wield significant discretion when dividing marital assets and can order a different split based on several factors.
While these processes may sound relatively simple, any number of factors can create complications. For instance, when one or both spouses own professional practice, a closely held company or some other business, spouses may have substantially different ideas as to the value of the business. In these instances, Bruce will enlist the services of recognized experts to evaluate the value of a business fairly. Further, the division of 401(k)s, pensions, or other retirement benefits can lead to possible negative tax consequences and additional opportunity costs. Bruce Steinfeld offers a comprehensive understanding of these and other issues, and he knows how to protect the value of your property rights.
Whenever possible, Bruce seeks out collaborative, nonadversarial means to resolve property division and other issues in a divorce. These methods of dispute resolution can create efficient solutions that can place you on sound footing moving forward from your divorce.