Understanding How Stock Assets Are Treated in a Divorce

By October 12, 2017 Articles

A divorce requires assets to be identified, valued, and divided between both parties. This includes real estate property, automobiles, and other personal items of significant value.

Stock assets are also subject to division in many cases. But this depends on a wide range of factors that you need to understand.

A family law attorney will provide the information needed in order to protect stock assets in a divorce. Georgia equitable distribution laws impact the division of stocks and other assets.

Understanding those laws and choosing the right legal solutions will protect your financial wellbeing before, during, and after your divorce.

Stock Asset Considerations in a Divorce

Although there are many types of assets that can be scrutinized in a divorce, stocks and other financial assets can make up a large portion of the marital assets.

Many professionals are issued stock options by employers. These give them the right to own a specific number of shares in a company’s stock within a specified time period and price.

But the individual receiving the stock option must choose to exercise the option to buy the stock. Whether this is done before or during a marriage is an important factor in how these assets may be divided in a divorce.

There may be restrictions in place that prevent the employee who owns the stocks to transfer them to a spouse who isn’t employed by the company.

In addition, stock options may have been awarded and vested before an individual was married. But if those stock options were exercised during the marriage, they may be viewed as marital property.

Restricted stocks can be difficult to divide in a divorce compared to those that can be easily liquidated. Offsetting the value of restricted stocks with other assets is one way to ensure their equitable distribution.

Your attorney can help you determine all of the options that are available to you as you move forward in your divorce proceedings.

Georgia Law, Stocks, and Divorce

Georgia views assets that are acquired as a result of the work and investments carried out during a marriage as subject to equitable division. This applies to all property and assets.

When dividing stock assets, the dates on which stocks are purchased, awarded, vested, or exercised must all be taken into account. This can mean the difference between those assets being viewed as marital or separate property.

The reasons why employers issue stock options and any funds used when exercising those options can also impact how they’re viewed and divided in a divorce case.

If stock options are viewed as marital property, courts can use a quantitative formula to determine what portion relates to the marriage period and is subject to division.

Protecting Your Stock Assets in a Divorce

Having the right legal resources helps you protect your stock assets in a divorce.

Understanding the factors that impact whether or not they can be divided along with your other assets is the first step in ensuring that your rights are protected under Georgia state law.

Your attorney can help you determine how much of your stock assets may be considered separate property and how much may be viewed as marital property by the courts.

Stock options that are granted for future services, as opposed to those granted for current and previous services, can be protected from equitable division in a divorce. But these and other factors depend on the unique circumstances of your case.

A skilled family law attorney understands the laws related to stock assets, the calculations used to determine their value and divisibility, and the best legal options for your needs.

Obtaining a fair divorce settlement secures your financial wellbeing and prevent many of the costly issues that can arise when your stock assets are at stake in a divorce.

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What You Need to Know When Dividing and Protecting Your Motorized Recreational Vehicles in a Divorce

By September 28, 2017 Articles

Dividing property in a divorce can be one of the most complex parts of the entire process. There may be real estate, financial accounts, collectibles, and other assets that individuals want to protect from their spouses.

Motorized recreational vehicles are a common factor in many divorce cases, and understanding how they can be protected is essential to the outcome of your case.

State laws can vary, and they may change over time. So working with a skilled attorney can give you the resources you need to protect your recreational vehicles and maintain your rightful ownership.

The Division of Property in Divorce

The division of property in a divorce case is determined by state laws.

Any assets that were acquired prior to the marriage are considered “separate” in the state of Georgia. This includes personal gifts or inheritances as well as assets that both spouses have agreed to classify as “separate” property.  Any assets acquired during the marriage are considered marital and are divided equitably, meaning however is most fair. 

Georgia courts typically consider a number of factors when dividing marital property. Future needs, financial status, actions that resulted in the loss of assets, and behavior of each spouse during the marriage can influence the court’s decisions.

Courts can also base their decisions on the fault of individuals in a divorce case. Cases that involve adultery and other misconduct can cause one spouse to obtain a larger share of assets.

Recreational Vehicles in Divorce

Recreational vehicles including motorcycles, dirt bike, jet skis, RVs, ATVs, boats, that were acquired during a marriage are included in marital assets that must be divided..

Most people are unaware that the name on a vehicle’s title may not necessarily reflect the person who will actually be granted the vehicle once the case is settled.

That’s why it’s important to consult with a skilled attorney who can help you determine the options for protecting your recreational vehicles.

You’ll need to determine the value of each vehicle and gather the documentation related to each in order to ensure that they remain protected during a divorce.

You will also need to document the make, model, year, license number, and outstanding balances on all of your recreational vehicles prior to your divorce proceedings.

Legal Protection for Your Recreational Vehicles

If vehicles were purchased and paid for prior to the marriage, or if they were purchased during the marriage and paid for with funds that weren’t directly connected to marital assets, they may be exempt from division.

Vehicles that were given to you as gifts and are in your name can also be free from the risk of being included in the marital assets.

Along with the manner in which recreational vehicles were obtained, other factors such as the funds used for their purchase and maintenance can also influence the court’s decisions on how they’ll be divided.

Your attorney will help you understand the laws related to divorce and property division.

Having an attorney help you to present your case is essential to achieving the outcome you want so that you protect your assets and continue to meet all of your lifestyle needs after your divorce.

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How to Protect Multiple Homes in a Divorce Case

By September 14, 2017 Articles

Your home may be one of the largest investments that can be lost in a divorce. But what happens when there are multiple homes in a divorce case?

Divorces that involve high net worth individuals or a high level of assets can lead to extensive losses without the right legal protection.

These cases can be complex due to the number of assets that are involved and the many ways in which they can be divided.

Knowing how to protect multiple homes in a divorce simplifies the process and ensures that you get the protection you need.

High-Asset Divorce Cases in Georgia

Determining how property is valued and divided between both parties is the biggest issue related to high-asset divorce cases.

The classification of properties impacts their level of protection and is the primary cause of contention in many divorces.

Consulting with an experienced attorney helps you make sure that your homes are classified and valued appropriately.

The state of Georgia classifies any property acquired during the marriage as “marital property”. This means that assets may be subject to equitable distribution in a divorce.

Other types of property may not fall under the same classification. These “separate” properties include those that were acquired before the marriage or as a gift or inheritance from another party.

If a prenuptial or postnuptial agreement has been established, your property may not be subject to equitable division and distribution.

Protecting Your Homes

Premarital agreements protect multiple homes and other assets in a divorce. When prepared correctly, a prenuptial agreement addresses all aspects of your finances and prevents common disputes that arise in divorce cases.

Take the time to know your legal rights in a divorce case. You need a support system that will look after your financial interests. In addition to a family law attorney, working with a financial advisor, accountant, and estate planner can provide you with the best options for protecting your homes.

A divorce case affects your assets, tax liabilities, and other aspects of your financial wellbeing. So having legal resources in place can support your case and help you protect multiple homes in a divorce.

The Legal Protection You Need

An attorney helps you complete the process of characterizing and valuing your properties. Taking the proper legal steps helps you protect your home investments and long-term financial wellbeing.

Spouses may have hidden assets that can be uncovered, and your attorney can help you determine what assets are rightfully yours.

Protecting multiple homes requires individuals to work with home appraisers, finance professionals such as forensic and certified public accountants, and others.

This can be a difficult process for those who are unfamiliar with the aspects related to property ownership in divorce cases. Divorce attorneys who are skilled in high-asset cases can determine the best options for your needs.

They have the expertise to protect your homes and address stock portfolios, investment property, timeshares, taxes, life insurance, and outstanding debt issues.

Consult with an experienced high asset divorce attorney to help you protect your rights and assets. You’ll prevent any unnecessary losses while protecting your multiple homes and the financial security they provide.

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What Busy Professionals Need to Know When Creating a Parenting Plan

By August 24, 2017 Articles

Busy professionals face unique challenges in a divorce. The legal proceedings related to a divorce often place added stress on an already overwhelming personal and professional life.

Creating a parenting plan requires the consideration of the best interests of children while accommodating the time, location, and financial concerns of each parent.

Busy professionals must understand the factors involved in creating parenting plans that serve the needs of the entire family while providing the resources that children need as they develop.

The following are the essentials that you need to know as you move through this process. You’ll create an effective parenting plan that supports you and your child’s long-term wellbeing.

The Right Parenting Plan

The right parenting plan provides the resources that your child needs when facing a divorce.

It outlines the terms that direct how the child will be raised, when the parents will have custody, how visitations will be carried out, and other aspects related to the family’s daily activities.

Parenting plans help everyone have a clear understanding of what’s to be expected as you move forward after your divorce.

But busy professionals may find it difficult to agree on terms that work for both parents. This makes the process more complex and requires the use of a skilled family law attorney who understands the unique needs of today’s professionals.

The child’s emotional and physical needs must be prioritized when developing a plan that affects his or her education, medical needs, religious upbringing, and other important factors.

The limitations that busy professionals have must also be integrated into the parenting plan to avoid unwanted issues down the line.

Creating a Flexible Parenting Plan

A flexible parenting plan can make it easier for parents to ensure that the needs of their children are met.

The needs of children evolve over time. As they socially mature, their relationships, educational needs, daily schedules, and location may change.

Busy professionals can consider creating a parenting plan that has a limited duration. Implementing a plan for a specific period of time allows you to have greater flexibility in revising that plan as the child’s needs change.

This accommodates changes in the parents’ living arrangements, work travel schedules, and other factors without disrupting the child’s lifestyle.

Legal Support for Busy Professionals

Regardless of the demands placed on busy professionals, all parents should be able to play an active role in the growth and development of their children after a divorce.

Maintaining visitation and custody schedules alongside busy work and travel schedules can impact the relationships within families. The right legal support helps busy professionals create parenting plans that work for everyone.

There are many parenting plan options that most parents aren’t aware of. Working with a family law attorney gives you the resources and options that meet your family’s needs.

Parenting plans for busy professionals must balance work responsibilities with the needs of each family member. But this can be difficult when you don’t know what options are available and how to develop an effective plan.

Disagreements between parents can further add to the complexity of this process, and the services provided by your family law attorney will prevent these and other obstacles.

The right parenting plan gives you the peace of mind in knowing that your child’s best interests and your professional needs will be met.

Parenting plans must be customized to each individual case. Taking this approach ensures that you can move on from your divorce while protecting the relationships within your entire family.

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