Georgia is an equitable distribution state, which means that the primary objective of the court will be reaching a fair division of marital property rather than a strictly equal one. Nevertheless, a 50-50 split of marital assets will usually represent a starting point for property division issues, subject to adjustment based on the specific interests and needs of each party. Contact Vayman & Teitelbaum, P.C., to learn how experienced divorce attorneys can guide you through the process of dividing marital property.

The first step to dividing marital assets is to determine exactly what is and what is not marital property. Property acquired before marriage will usually be treated as separate property that will not be subject to division, but the non-marital character of an asset can sometimes be lost during the marriage. In some instances, a premarital agreement will dictate what property each party will be entitled to in the event of divorce. In other situations, such as a family business in which one spouse was a partner in name only, the issues may be less clear.

Once it is determined that certain assets and liabilities are part of the marital estate, there must be an accurate valuation of the property. Our experience with business valuation as well as the valuation of family assets is a significant advantage in a complex divorce. We can help you identify the right ways to assess and protect the value of such assets as:

  • Businesses including S corporations, C corporations, LLCs and family-owned businesses.
  • Volatile or non-liquid assets such as stocks, bonds, collectible items or artwork.
  • Professional practices including physician’s offices, dental offices, law firms, veterinary clinics and accounting firms.
  • Real estate property including second homes, vacation property, commercial property or agricultural land.
  • Retirement accounts and pension plans.
  • Investments such as stocks, bonds, trusts or gold.

Many high net worth couples have executed prenuptial or postnuptial agreements that, if valid, will largely dictate the division of property in a divorce. If there is a strong disparity in financial strength or earning power between the spouses, arrangements for temporary spousal support or access to bank accounts will need to be made while the divorce and property division issues are pending. Similar arrangements may be necessary for the payment of marital and nonmarital debts such as mortgages, utilities, credit card bills, medical bills, student loans or taxes.

At Vayman & Teitelbaum, P.C., our Atlanta divorce lawyers can help you find fair and sensible resolutions to even the most complex property division problems. Contact our office to learn more about how we can serve your needs.