Atlanta Asset & Debt Division Attorney
Navigating the terrain of asset and debt division can be one of the most challenging aspects of family law cases in Atlanta, Georgia. This process becomes even more complex if you are going through a divorce, given the emotional and financial stakes involved. In such situations, our experienced Atlanta asset & debt division attorney at Kaye, Lembeck, Hitt & French can be your most valuable ally and can help you gain an understanding of what asset & debt division entails in Atlanta from a family law perspective.
Understanding Asset and Debt Division in Atlanta
Asset and debt division refers to the legal process of equitably dividing marital assets and liabilities between spouses during divorce or legal separation. This includes everything from real estate and retirement accounts to credit card debt and student loans. In Atlanta, like the rest of Georgia, the law requires “equitable distribution,” which doesn’t necessarily mean a 50/50 split but a fair distribution based on various factors.
What you need to know before getting asset and debt division in Atlanta:
- Gather financial documentation: Collect bank statements, mortgage documents, credit card bills, and any other financial records.
- Understand marital vs. separate property: Consult with your Atlanta asset & debt division attorney to determine which assets and debts are marital and which are separate.
- Be transparent: Hidden assets can result in legal consequences and an unfair distribution.
Some assets, like businesses or investment portfolios, require special consideration and expertise to value and divide.
In a divorce, debt is divided just like assets. The court will typically allocate marital debt based on who is more financially capable of paying it, or who was primarily responsible for incurring it. Factors like income, earning potential, and individual needs are considered in this allocation.
Assets are divided based on equitable distribution. The court considers various factors such as:
- The length of the marriage
- Each spouse’s financial condition
- Each spouse’s contribution to the acquisition of marital assets
Protecting Your Rights
In Georgia, both spouses have rights to marital property, which includes assets acquired during the marriage. This applies to both husbands and wives. Separate property owned before marriage or acquired through inheritance usually remains with the original owner. You also have the right to legal representation to protect your interests during this process.
How We Can Help
- Expertise in valuation: Your attorney can consult with financial experts to value complex assets like businesses or real estate.
- Negotiation skills: An experienced Atlanta asset & debt division lawyer can negotiate effectively with your spouse’s attorney for a fair settlement.
- Court representation: If a settlement can’t be reached, your lawyer can present a compelling case in court for a fair division of assets and debts.
- Ensuring compliance: Your attorney will ensure that all court orders for asset and debt division are followed through, safeguarding your interests.
Contact Kaye, Lembeck, Hitt & French – Atlanta Attorneys Specializing in Asset & Debt Division
Asset and debt division in Atlanta is a complicated process, requiring meticulous attention to detail and a nuanced understanding of Georgia’s family laws. Given the stakes, both emotional and financial, it’s crucial to consult with our experienced Atlanta asset & debt division attorney at Kaye, Lembeck, Hitt & French who can guide you through this complex terrain. Whether it’s valuing assets, negotiating with a spouse, or litigating in court, a skilled attorney can significantly affect the outcome of your asset and debt division case. Contact us today for assistance.