Atlanta Equitable Distribution Attorney
If you’re dealing with divorce or the division of assets in Atlanta, you may have heard the term “equitable distribution.” This legal concept often leads to many questions: What is it? How does it work? What are your rights? This guide aims to answer all these questions and more, helping you understand why partnering with our Atlanta equitable distribution attorney at Kaye, Lembeck, Hitt & French can make a significant difference in your case.
Understanding Equitable Distribution in Atlanta
Equitable distribution is the legal principle guiding the fair division of marital assets and debts between spouses during a divorce. Contrary to popular belief, “equitable” does not necessarily mean “equal.” Instead, the courts in Atlanta and throughout Georgia aim to distribute assets in a manner that is fair and just to both parties.
In Georgia, the courts consider a variety of factors when determining equitable distribution. Some of these factors include:
- The length of the marriage
- The financial and non-financial contributions of each spouse to the marriage
- The financial needs and liabilities of each spouse
- Each spouse’s earning capacity and future financial prospects
After evaluating these factors, the court allocates marital assets and debts accordingly.
An example of equitable distribution:
Consider a couple in Atlanta where one spouse earned a significantly higher income but the other spouse was responsible for homemaking and raising the children. In this case, the court may decide to allocate a larger portion of the marital assets to the lower-earning spouse to account for their non-financial contributions to the marriage.
Calculating equitable distribution:
While there’s no fixed formula for equitable distribution in Georgia, the courts generally:
- Identify marital property: Distinguish between marital and separate property. Only marital property is subject to equitable distribution.
- Valuate assets: Determine the value of the marital property.
- Consider factors: Take into account various factors like the length of the marriage, each spouse’s contributions, and so on.
- Allocate: Divide the assets based on the evaluation of these factors.
How We Can Help
Before meeting with your attorney, gather all relevant financial documents, including:
– Bank statements
– Property deeds
– Retirement accounts
– Investment portfolios
– Debt records
– Income tax returns
This will assist your attorney in making a comprehensive assessment of your assets and debts.
Our attorneys offer:
- Expert guidance: They provide insights into Georgia’s specific laws surrounding equitable distribution, enhancing your understanding and making the process more transparent.
- Advocacy: They represent your interests, either in negotiations or before the court, ensuring that you receive your fair share.
- Stress-reduction: Handling legalities can be overwhelming; an attorney takes on this burden, allowing you to focus on other aspects of your life.
- Comprehensive analysis: They can identify hidden assets, calculate the value of marital property, and assess debts, ensuring that nothing is overlooked.
In the absence of a will, asset distribution in cases of death is governed by Georgia’s intestate succession laws, not equitable distribution principles. These laws define a strict hierarchy of beneficiaries who are eligible to inherit the deceased person’s assets. Our Atlanta equitable distribution attorneys can guide you through estate planning to ensure a fair distribution as per your wishes.
People often underestimate the complexity of asset division. Our equitable distribution attorneys provide specialized knowledge in both law and finance. We guide you through asset valuation, tax implications, and even the emotional aspects of asset division. We also ensure that your rights are protected throughout the process.
Contact Kaye, Lembeck, Hitt & French
Understanding equitable distribution and navigating the complexities of asset division can be challenging. Our Atlanta equitable distribution attorney at Kaye, Lembeck, Hitt & French can make this process easier, ensuring that your interests are fully represented and you receive a fair share of the marital property. From preparation to representation, having an expert by your side is invaluable. Contact us today for assistance.