High Asset Divorce Attorney Atlanta
Nobody wants to experience the hardship that is divorce. After all, the idea of separating a family well into a marriage is very daunting. These matters become even more challenging when you are a business professional with a high value of assets that may be divided in the separation.
Whether you work for a high-level business or you and your spouse own a business together, high-value assets create a significant number of challenges that must be carefully navigated. Before you go through with your divorce, there are a few things you should know.
What is a High Asset Divorce?
When you decide to dissolve your marriage, the courts may become involved during the property division stage. Part of this process involves the division of assets that you and your spouse earned together throughout the course of your marriage. Typically, they don't factor in assets from before the marriage or gifts such as inheritances.
A separation involving high-value assets increases the complexities because there are many things the court must consider. For instance, the court may consider if one party made more than the other during the marriage. They may also look into 401k benefits, retirement funds, and more.
The challenges arise when you consider how much the couple has in assets. The courts may look into an equitable division of athletes: when both parties receive the same amount as part of the agreement.
Dealing with Complex Asset Division
Many couples try to go through this complicated stage on their own. They try to negotiate spousal support or alimony without legal advice. However, there are many mistakes to be made that can result in you leaving with a less-than-favorable outcome.
When you go through these matters, you should recognize some of the problems that may arise. This can include:
- One spouse attempting to hide additional assets from the court
- One spouse attempting to claim less income than he or she really makes
- One spouse attempting to hide stocks and bonds
- One spouse attempting to clear a bank account prior to filing for divorce
These can be significantly challenging aspects to endure, especially when you are unsure of what they mean. Having a lawyer on your side can help you identify any missing assets, how the high net-worth property division works, and what you can do to protect your rights moving forward through the process.
What to Expect in the Process
When you file, you go through the court process to get the dissolution of your marriage started. Both parties must present factual and accurate information regarding incomes, assets, and more. If either you or your spouse fail to disclose specific assets that you may have, this could lead to significant trouble in your case.
When the court divides property, they must consider shared assets, such as a family home and vehicles. You and your spouse must make decisions regarding these assets. For instance, if you and your spouse cannot decide on home ownership, the court may order you to sell the home and split the amount earned as equitable division.
Why Hire a Lawyer
The legal matters surrounding this type of case can become contentious. There's often significant amounts of arguing and disagreement between you and your soon-to-be former spouse. Coming up with a plan that makes all parties happy can be fairly challenging.
The most effective thing you can do is hire legal representation who can guide you through every step of the process. Working with a dedicated advocate helps protect your rights, uncover any hidden assets, and puts you in the most favorable position possible.
At Atlanta Family Law Group LLC, we make you and your needs our top priority. We'll work with you to help you fully understand your options and stay aware of what comes next during the process. You can have peace of mind focusing on what's important while our team tenaciously pursues the outcome you deserve.
We know this can be a very difficult time for you and your family. We'll empower you to make the decisions that fit your situation best, while also being empathetic of the situation at hand. Our Atlanta high net worth divorce attorneys are ready to stand by your side every step of the way.
To schedule a consultation with our office, we encourage you to call us today at (404) 963-9452. Let us be your trusted and passionate companion during one of life's most stressful times.