Every divorce has unique emotional and legal challenges. When a couple has a large amount of financial assets, the situation can be especially complex. If you find yourself in this situation, it’s important to have experienced and honest divorce attorneys from Forsyth County on your side. Banks, Stubbs & McFarland, LLP, can help you through this difficult time by protecting your assets and negotiating a fair distribution.
Identifying and Categorizing All Assets
In all divorce cases, making a full accounting of all assets is essential at the beginning of the process. This accounting becomes even more vital when a couple holds many high-valued assets. It can take time and effort to gather all the required documentation for all your assets, but it’s time well spent.
Once you have a proper accounting of all assets, your team can begin sorting out which property is “marital” and which is “separate.” First, we consider any prenuptial agreements and the terms outlined in these documents. Otherwise, marital property is anything that either party has obtained during the time of the marriage. Separate property is that which either party had before the marriage began, or was obtained during the marriage by certain non-marital means, like an inheritance or individual gifts.
Preserving Assets by Avoiding Litigation
At Banks, Stubbs, and McFarland, LLP, we know all too well how expensive divorce litigation can be for both parties. If your case goes all the way to trial, you will need a strong plan with lots of hours of research and preparation behind it. Unfortunately, too many people spend large percentages of their assets in litigation just trying to protect what’s left.
Divorce doesn’t have to be this way. When you hire lawyers who are honest, experienced, and creative, you can avoid the most expensive part of divorce: litigation. Negotiations and settlements can save everyone a lot of money and emotional damage.
Don’t worry - attempting settlement doesn’t mean you get weaker representation. In fact, we find that clients who attempt negotiations first are in a stronger position to protect their assets, future earning potential, and emotional well-being, as they have already put together a plan for how they want their assets divided.
Special Considerations for High Asset Divorce
When couples have many assets or a high net-worth, there are some special considerations which come into play during the divorce process. For example, you need to consider these essential questions:
- Should you protect your financial privacy by sealing all records?
- How will you handle inherited wealth?
- What kinds of changes do you need to make in your estate planning?
- Do you need a forensic accountant to find your partner’s assets?
- Do you or your spouse own international assets? How are those handled?
- If you own a business, is this considered marital property?
- What tax implications should you consider?
Many other questions may come up as well during your high asset divorce. That’s why it’s essential to hire an attorney who has deep knowledge of the Georgia legal system and the issues that arise during high asset divorce proceedings.
Hire an Experienced Divorce Attorney in Cumming, GA
During this difficult time, you deserve representation that is both level-headed and forceful. If you need a high asset divorce attorney in Cumming, GA, contact us today. Swift action is important when large assets are at stake.