Many married couples recognize that investments are one of the best ways to prepare for their future. Unfortunately, divorce has the potential to create substantial obstacles in a person’s life, which includes reducing the size of a couple’s investments. Many people who enter the divorce process must deal with the challenge of dividing up shared stocks as well as other investments following a divorce.
Georgia Divorce and Property Division Law
Georgia has some specific laws regarding how property is divided during the divorce process. Assets that are classified by a Georgia court of law as marital must be divided equitably between the spouses. Many people find it is a wise idea to obtain the assistance of an experienced attorney to handle the separation of assets. An experienced attorney is able to understand the case law that supports your side and to find the strongest way to argue that property should be divided in your favor.
The Division of Marital Assets in Georgia
Georgia is classified as a joint property state, which means that all of the assets that a company acquires during a marriage is viewed by the court as joint property of both spouses. These assets can include things like checking accounts, credit card debt, retirement funds, stocks, and other tangible physical property. Not only are assets divided equally among couples, but liabilities are, too. In deciding how to separate assets among spouses, judge often consider things like marital misconduct and fault for the divorce.
Vested v. Unvested Stock
Not only is it critical for a couple to determine whether stock options are joint or marital property, it also becomes important to determine whether or not the options are vested. The phrase “vesting” refers to how long a person is required to wait before he or she is able to “exercise” the option. In situations in which vesting requires waiting, the decision of how to divide stocks between a divorcing couple can be even more complicated.
What Happens to Stocks in a Divorce?
In some cases, stocks might not be marital property because a spouse might have purchased them prior to marriage. It is important to understand, however, that if the value of stocks increased during the marriage, then that gain must be divided between the former couple. In many cases, if a spouse would like to retain the stocks rather than sell them, there will likely be an exchange of other property that the couple owns to make up for it. To successfully navigate these matters, it is often a wise idea to obtain the assistance of an experienced attorney.
Speak with an Experienced Georgia Divorce Attorney
Even though divorce is a particularly complex time, the assistance of an experienced divorce attorney can make it all much easier. Contact Vayman & Teitelbaum P.C. today to speak with an experienced attorney who will remain committed to fighting for the best possible results in your case.