Guide To Asset Division in Georgia: Real Estate

/in /by

For many people, one of the most significant concerns during a divorce is the division of assets. In Georgia, property division during divorce is guided by specific laws and principles. If you find yourself going through a divorce and facing the complexities of asset division, The Edwards Law Group is here to provide you with the legal advice and support you need during your divorce process.

When it comes to real estate, the stakes can feel particularly high. The family home holds not only financial value but also sentimental attachments and memories. As you navigate the complex details of property division, it’s important to understand how real estate is viewed and divided in a Georgia divorce.

Separating Marital Property and Non-Marital Property

When dividing real estate, it’s essential to distinguish between marital property and non-marital property. Marital property generally includes assets acquired during the marriage, such as the family home purchased after the wedding. Non-marital property consists of assets owned individually before the marriage or acquired through gifts or inheritances.

During asset division, it’s crucial to gather documentation and evidence to support the classification of property as marital or non-marital. This includes deeds, purchase agreements, financial records, and any other relevant documents.

Who Gets the House in a Divorce?

Often, the most significant marital asset is the family house. Determining who gets the house in a divorce depends on several factors. While it’s understandable to have an emotional attachment to your family home, the final decision will be based on a thorough evaluation of the circumstances.

If the couple purchased their marital residence together during their marriage, it is generally considered marital property. Similarly, if one party acquired the house before marriage but the other made contributions to it, such as through renovations, the property may be deemed marital property and subject to division.

How Can the House Be Divided?

There are several ways the house can be divided during a divorce. One option is for one spouse to keep the house while the other receives other assets of comparable value. In this case, it’s crucial to accurately determine the fair market value of the property to ensure an equitable distribution.

Another option is to sell the house and divide the proceeds between the spouses. This approach allows for a clean break and a fresh start for both parties. However, selling the house can be a complex process, and it’s important to work with experienced professionals to ensure a smooth transaction.

Is It Possible to Co-Own the House?

In some situations, co-owning the house may be a viable solution. This arrangement can be beneficial, especially when there are children involved or when neither spouse is willing nor financially able to buy out the other. However, co-ownership requires careful consideration and clear agreements on matters such as mortgage payments, property maintenance, and future sale or buyout possibilities.

Georgia’s Separate Property Laws

In Georgia, property is generally categorized as either separate or marital property. Separate property, which could be considered your personal property, includes assets acquired before the marriage, as well as gifts or inheritances received by one spouse individually. This type of property is typically not subject to division during divorce and remains with the spouse who owns it. 

Marital Property in Georgia

Unlike some other states, Georgia does not follow a strict community property system. Instead, it adheres to an equitable distribution approach, which means that marital property is divided in a fair and just manner, not necessarily equal, taking into consideration various factors.

  • Length of the Marriage: The duration of the marriage plays a role in determining how property is divided. Longer marriages may result in a more equal distribution of assets.
  • Contributions to the Marriage: The contributions made by each spouse during the marriage, both financial and non-financial, are taken into account. This includes contributions to the acquisition, preservation, or appreciation of marital property.
  • Economic Status of Each Spouse: The economic circumstances and earning capacities of both spouses are considered. Factors such as income, future earning potential, and financial needs are taken into account to ensure a fair division.
  • Child Custody and Support: If there are children involved, the custody arrangement and child support obligations may influence the division of assets. The court considers the best interests of the child when making property division decisions.
  • Age and Health of Each Spouse: The age and health of the spouses can be factors in property division. For example, if one spouse has health issues or is approaching retirement age, they may require additional financial support.
  • Debts and Liabilities: The court also takes into consideration the debts and liabilities of each spouse. This includes mortgages, loans, credit card debts, and any other financial obligations.
  • Marital Misconduct: While Georgia is a no-fault divorce state, instances of marital misconduct such as adultery or financial misconduct can still be considered as factors in property division.
  • Future Financial Prospects: The court may consider the future financial prospects of each spouse, including potential inheritances, career advancements, or the ability to generate income in the future.

These factors are not exhaustive, and the court has discretion in determining the weight given to each factor based on the specific circumstances of the case. Additionally, property division can be influenced by other applicable laws and legal precedents.

If you are going through a divorce and have concerns about the division of marital property, it’s crucial to consult with an experienced divorce attorney who can provide personalized guidance based on your situation. The Edwards Law Group is here to support you and protect your interests during this challenging process. Contact us today for a consultation to discuss your case in detail.

Get Legal Assistance When Dividing Property in Georgia

Navigating the division of real estate during a divorce in Georgia can be a complex and emotionally charged process. Understanding the state’s separate property laws, the concept of community property, and the available options for dividing the house is crucial.

If you are going through a divorce and facing asset division, The Edwards Law Group is here to support you every step of the way. Our compassionate and knowledgeable attorneys will provide you with the guidance and expertise needed to protect your rights and ensure a fair outcome. 

We know that your family home and the assets tied to it hold significant value, both financially and emotionally. Trust The Edwards Law Group to guide you through the complexities of property division in Georgia. Let us be your partner in securing the future you deserve.

notebook on desk with 401k written in red ink retirement family law

Guide to Asset Division: Retirement

/in /by

Going through a divorce can be a challenging and emotional experience. In addition to dealing with the emotional impact of a divorce, dividing assets such as retirement accounts can be a complicated process. 

Retirement accounts can be significant assets and are often subject to division during a divorce in Georgia. Many times, after the equity in a couple’s home, their combined retirement is their largest asset. This is why it is essential to have a clear understanding of how these assets are divided. 

Our firm is proud to provide our community and clients with legal information related to family law. Any legal information here does not serve as qualified legal advice, however we hope to share some basic understanding of how the divorce process works. 

Let’s go over how asset division works in Georgia, specifically how it relates to retirement accounts. As an Atlanta-based family law firm, we are committed to providing you with the information and resources you need to navigate this challenging time in your life. If you’re considering a divorce but you’re worried about the impact it can have on your future give our firm a call.

Retirement Accounts and Divorce – What Georgia’s Laws Say

In Georgia, the courts aim to divide marital property equitably between the spouses, rather than equally. This equitable division approach ensures that the division of property is just and appropriate. Typically, all assets acquired during the marriage are considered marital property and are subject to division.

  • Assets accumulated before the marriage are considered separate property, and therefore not subject to division with your spouse. 
  • However, assets accumulated after the marriage are considered marital property, and must be distributed equitably in accordance with the law.

Georgia law mandates that all contributions made by either spouse to any retirement account, such as a 401(k), an IRA, or a pension, during their marriage are subject to equitable division. Although the earning spouse may keep any pre-marital balance as separate property, the portion accumulated during the marriage is subject to division. Even unvested retirement funds in a pension are considered marital property and can be divided accordingly.

401(k) specific funds can be divided with a QDRO, or Qualified Domestic Relations Order. A QDRO provides instructions to the plan administrator on how to distribute the benefits due to the non-employee spouse. The IRS recommends using this order before any disbursement of the 401(k) account by the administrator.

What a family law attorney can do to help

It is always advisable to consult with an experienced family law attorney who can guide you through the asset division process, ensuring that your rights and interests are protected. Our Atlanta-based family law firm is dedicated to helping our clients through every aspect of their divorce, including giving you a full breakdown of the asset division process of your case. If you have any questions about the asset division of retirement accounts, please do not hesitate to contact us for a consultation. We are here to help you through this difficult time.

What Happens To My Business If I Divorce?

/in /by

What Georgia Business Owners should know about divorce

If you are a small business owner in Georgia, you are accountable for your financial prosperity. Through your hard work and dedication to your business, you have been able to provide for your family.

A significant number of individuals in the wider Atlanta region derive a significant portion or all of their income from privately-owned enterprises. These businesses are often a crucial source of wealth for Georgia residents and hold a special place in their hearts. In some cases, these establishments have been family-operated for several generations, creating emotional bonds that are difficult to sever.

If you are contemplating divorce or suspect that your spouse is, it is understandable to be concerned about how the process may affect your business and financial stability. Conducting a thorough review of your situation and familiarizing yourself with Georgia’s property division regulations can assist you in devising a plan with your attorney to safeguard your business during a divorce.

When confronted with a divorce, a small business owner typically has three options.

The first is to transfer the business. This is an alternative when one spouse wants to relinquish their share of the company as part of the final property settlement or due to a trial. The second option is to divide the business. This option comes with advantages and disadvantages that are contingent on the company’s nature. Of course, the last option is selling the business. This can simplify the division of the company’s liquidated assets during the division of marital property, but it also entails relinquishing control of the business.

If you’re facing divorce and are a small business owner, taking the time to assess your situation is essential. Rather than creating unnecessary tension among your employees or hastily making decisions, a thorough evaluation can help determine the best course of action. The business’ value, operations, tangible and intangible assets, and the goals of each spouse are all important factors to consider. Based on these factors, it may be more advantageous to sell the business before the divorce, or to transfer or divide it instead.

Whatever road may be best for you, there is no single solution. For all small business owners experiencing a divorce, determining the best approach for your small business necessitates the expertise and experience of a reputable divorce attorney. Our firm is here so you don’t have to face the difficulties and headaches involved in divorce. We’ll help you assess which option is best for your business and link you with experienced commercial professionals to work side-by-side with us during the process.

Dating As A Single Mom Isn’t Easy

/in /by

Here are 3 Tips To Help You Get Back Out There

When it comes to dating as a single mother, there are unique difficulties to navigate. Add to the mix that you’re trying to date after a divorce, it can make everything more challenging. Attempting to balance your children’s needs with your romantic pursuits, is not the most straightforward thing. Juggling the search for suitable childcare and fitting in dates around your children’s schedules can be overwhelming. However, there are other obstacles to anticipate as well. Fortunately, for every challenge, there is a solution. Countless single moms embark on new relationships each day and eventually discover their happily ever after the divorce is finalized!

As a single parent, you may often feel like you are carrying a heavy load on your shoulders. You may question whether adding the additional pressure and responsibilities of dating to your already full plate is a wise decision. The stories of family conflict and turmoil resulting from blended families can be frightening, leaving you wondering if it is even worth it. But, there are ways to avoid such complications. As long as you possess the necessary tools, you can overcome any hurdle that comes your way.

Prior to considering dating, it is crucial to ensure your overall well-being, including emotional, mental, and spiritual health, is in a good place. Single mothers, and any parent, require patience, commitment, and understanding. Before you enter the dating scene you need to make sure you understand these three requirements

Only Date When You’re Ready

While some may choose single motherhood, it is not the case for all single parents. And if you’re reading this article, you are likely thinking about throwing your hit into the ring to start dating! The termination of a relationship can be devastating and transformative, especially when there are children involved. However, it doesn’t mean that you can’t move forward and develop a healthy partnership with someone new. Don’t let anyone else’s experience, horror stories, or success stories influence you. Start dating when YOU are ready. Go at your own pace. Remember, you are the captain of your ship and the controller of your destiny. 

Be Truthful With Your Child And Dates

Be direct with your date(s) that you are a single mom and that you’ve gone through a divorce. Being mysterious, evasive, or illusive won’t help you or your children. Honesty is the best policy when it comes to dating as a single mom. It is important to be transparent with your potential partners about your situation, including the fact that you have gone through a divorce and that you are a parent. This allows them to make an informed decision about whether or not they are willing and able to enter into a relationship with you, and it sets the foundation for open and honest communication moving forward. After all, you wouldn’t want to date someone who isn’t comfortable with you being a parent. 

Similarly, it is important to be age-appropriately direct with your child about your decision to start dating again. While it may be tempting to keep this part of your life hidden from them, being evasive or secretive will only lead to confusion and mistrust. Instead, be honest with your child about your desire to find love and companionship, and reassure them that they will always be a top priority in your life. That being said, it is IMPERATIVE that you do NOT introduce your children to anyone you are NOT in a serious relationship with.

Ultimately, being upfront and honest about your situation and intentions is the best way to build strong, healthy relationships with both your potential partners and your children.

Take Your Time. Don’t To Commit Until You’re Ready

As a single mom, entering the dating world can be an exhilarating experience. Taking the time to get to know your potential partner before making significant moves is crucial. Being a parent can be a double-edged sword. On the one hand, your kids, your parenthood, and your ability to manage make you strong. But, it’s also a vulnerability that some might want to exploit. 

It’s natural to want to involve your children in this process, but introducing them to someone too soon can be damaging if the relationship doesn’t work out. Children tend to form bonds with new people quickly, so it’s essential to be cautious and avoid causing them unnecessary heartbreak.

Communication is key in this situation. Make sure that you and your partner are on the same page regarding the timeline of the relationship. As a single mom, you may have specific boundaries and requirements in place that your partner needs to understand and respect. If they can’t, then they’re not the right fit for you or your family.

The right divorce attorney can represent you legally and guide you through the emotional process that most divorces and family law cases can bring on. Family law involves connections with loved ones that go deeper than friendship and careers, so things can cut deep when legal solutions are required. Our firm is proud to help and provide resources so that the divorce process and the aftermath of a divorce go as smoothly as possible for you and your children. 

Atlanta-Divorce-Lawyer-Blog

What You Need To Know About Divorce in 2023

/in /by

Ready to make the big leap this year?

What are the grounds for divorce in Georgia? What if my spouse (soon-to-be ex) and I are willing to cooperate? What if I have a kid? What do I need to know about Divorce in 2023?

All of these questions can be addressed and we’re here to do just that. If you’re looking for a top-rated divorce attorney in Atlanta, give us a call. We take on the ‘ugly’ in family law, so you don’t have to.

What are the grounds for divorce in Georgia?

In Georgia, filing for divorce requires both spouses to complete a series of necessary steps to ensure a smooth and efficient process. While divorce is simply the legal termination of a marriage, the complexities of asset and property division, debt, and family matters make it anything but straightforward.

In line with many other states, Georgia recognizes both fault-based and no-fault divorce. There are a total of 13 grounds for divorce in Georgia, with 12 being fault-based and only 1 being a no-fault ground. Additionally, there are five grounds for annulment of a marriage, although it’s important to note that annulments are much less common than divorces. 

The no-fault ground for divorce is the grounds for a ‘no-fault’ divorce. It can be described in different forms, “irretrievably broken,” “general incompatibility,” and other ways to describe a general no-fault breakdown in the relationship. Even when there has been infidelity in a marriage, which is one of the 12 fault-based grounds for divorce, many attorneys might still advise on going through a no-fault route.

What if my spouse (soon-to-be ex) and I are willing to cooperate during our divorce?

First, let’s start by saying: Great! Of Course, divorce is tough. And, even if spouses are willing to cooperate, a lot of emotions will still surface. However, if both parties are willing to cooperate during the divorce proceedings, it can significantly ease the process and make it less stressful. Here’s what you can do (and we can help with) if you’re going to collaborate together to move on from your marriage. 

We can help you create a plan. This plan can include things like how you will divide property, how you will share custody of any children, and how you will handle finances. Having a plan in place can help reduce uncertainty and conflict.If there are areas where you and your ex-spouse are having trouble coming to an agreement, we can use a mediator to help facilitate the conversation. A mediator is a neutral third party who can help you find common ground and reach a resolution that works for both of you. Once both sides have come to an agreement, we’ll make sure to put everything in writing. This can help prevent misunderstandings and provide a clear record of what was agreed upon.

There’s a child involved in our marriage, what do I do?

First things first. We can’t advise you on how to proceed with a divorce without a consultation. Our articles online are written to give some indication of the laws, processes, and mistakes we see as family law professionals. Family law, is not easy. It involves emotions. It involves family, exes, and sometimes children. If you’re taking the step to end your marriage, and you’re a parent, you have not just yourself to consider but of course your most cherished loved one. Here’s what we can tell you without dragging on this article for a hundred pages: give us a call.

Our firm is trusted by many families and individuals in Atlanta and the greater metro area. We can advise you on how to proceed with your family law situation and get you on the right path!

How Do You Know If We Are The Right Law Firm For You?

/in /by
Read more

Is Your Marriage Like Death By A Thousand Cuts

/in /by
Read more

You Made It Through The Holidays… Are You Ready For That Divorce?

/in /by
Read more

Adoption doesn’t have to be scary when you hire an adoption lawyer

/in /by

Adoption is a beautiful and rewarding experience, but it can also be a daunting and overwhelming process. However, hiring an adoption lawyer can ease the burden and make the journey less scary.

As adoption lawyers, we are legal professionals who specialize in adoption law and can guide you through the complex legal process, including the legal paperwork and court appearances, ensuring that everything is done correctly and in a timely manner.

What an Adoption Lawyer can help you with:

Working with families seeking to legalize their family unit gives us the opportunity to be a part of a transformative and meaningful experience. We LOVE that for you and us! Adoption is not just a legal process, it’s a journey that brings new families together and creates lifelong bonds. We take great pride in being able to play a small role in this special moment for our clients.

We also appreciate the diversity of the families we work with. Adoption is not a one-size-fits-all process, and we enjoy the challenge of tailoring our services to meet the unique needs of each family. Whether it’s a same-sex couple, a single parent, or a family with a special needs child, we are honored to help make their adoption dream a reality. There’s also more than one type of adoption, including step-parent adoptions, second-parent adoptions, and more.

We take our role in the legal process very seriously. We help ensure that all parties understand their rights and responsibilities in the process.  We can also work with an adoption agency or facilitator to make sure that the adoption is legally sound and that all state and federal laws are being followed.

An adoption lawyer can also help you with post-adoption issues, such as changing the child’s name or obtaining a new birth certificate. Adoption attorneys can provide guidance on ongoing legal issues. Should any arise.

At our Atlanta family law firm, we have a deep understanding of the laws and regulations surrounding adoption, and we make sure to stay up to date with any changes in legislation. This ensures that our clients have the most current information and that the adoption process goes as smoothly as possible.

Hiring an adoption lawyer is an investment in the future of your family. We can provide valuable legal advice, representation, and support throughout the adoption process. We know that choosing an attorney you feel comfortable with is a big commitment and a sign of trust. So, pick up the phone, give us a call and we’ll help you with your family expansion.