How Separate Property Can Become Marital
The division of assets during a divorce can become highly complex. If you find yourself facing this situation, it’s in your best interest to work with Daniele Johnson, Atlanta divorce lawyer, as early in the process as possible. Although you may assume that some assets are yours alone, the law may view things differently. Whether you initiate or respond to a divorce complaint, your attorney will ensure that you understand asset division laws and help you place yourself in the most advantageous position going forward.
Your Atlanta Divorce Lawyer Explains the Comingling of Property
The definition of comingled property is something that either you or your spouse owned prior to marriage that became joint property during the marriage. Cash is a common example of an asset that both parties own after marriage. One spouse could have had money in a separate account and then transferred it to a joint account once legally married. This money would now belong to both parties. Family law judges are unlikely to separate this type of asset during divorce proceedings.
However, some exceptions may exist. In the case of cash, the spouse wishing to claim separate assets from the other spouse would need to hire an accountant and trace the pre-marriage money over the years. It’s a highly complex process and one that most people don’t consider pursuing.
The fact that Georgia is an equitable division state makes it even more important to hire an experienced Atlanta divorce lawyer. Equitable division means that the judge divides assets based on what he or she considers fair. It doesn’t necessarily guarantee that you will receive an even split. Equitable division can also make it nearly impossible to distinguish one spouse’s asset from their joint assets.
Non-Economic Contributions Can Affect the Division of Assets
Husbands and wives make contributions that benefit the family unit all the time that may not necessarily be financial in nature. A wife forgoing advancing her career to stay home with young children is a prime example. With a husband continuing to work full-time, he would have the opportunity to create greater financial assets on a personal level than the wife would. A wife working to put a husband through graduate school is another common example. Without her financial contributions while he was a student, he would not have the earning capacity that he enjoys today.
Family law judges consider these and other scenarios when it comes to equitable distribution of assets. This is a complex manner that requires the help of an Atlanta divorce lawyer to ensure that the division of assets really is equitable. While the final decision rests with the judge, Daniele Johnson will argue passionately for your right to fair treatment regardless of your individual situation. Keep in mind that judges also consider whether the financial value of an asset has appreciated or depreciated during the years you and your spouse remained married.
Speak with an Experienced Atlanta Divorce Lawyer Today
If you’re facing the stress of asset division in a divorce, Daniele Johnson is here to help. Please contact her office at 770-984-5311 or reach out online to request a free consultation to discuss the best strategy for your divorce case.
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