See How Investments Are Distributed Under State Family Law
A great divorce attorney should help you identify and assess the value of assets along with securing your best interest. This will be simple if you and your spouse can reach an agreement on how all assets should be split. When you are unable, the solution is left to the judge in most states. Divorce courts handle all types of possessions including frequent flyer miles, houses, time shares, pensions, pets, family businesses, and countless others. When couples disagree, it is often out of anger and they are just arguing to see who gets the last word. In these situations, a mediator may be invited to come in to assist you in working together and finding common ground.
Marital property is considered to be any property or debt that was built up during the marriage. This also means any property profits or losses. Separate property consists of property owned before marriage including allowances or birth rights that were granted to you as an individual. Individual property should be detailed in a prenuptial agreement that will keep it secured regardless of the circumstances of the marriage.
Property arrangements are often resolved between the two of you. If you reach an agreement you will sign a binding certificate called a marital settlement agreement. Alternatively the superior court will award the property by the decree of divorce. Whenever the two of you cannot agree to a settlement, the court has specific processes it uses to divide the assets. Discovery process is used to decide what assets and debts are included in the marriage. A dollar value will then be assigned to each asset and debt. You should know that state family law includes equitable distribution for assets. Equitable distribution occurs when the judge uses certain things to determine how the property will be distributed fairly but not necessarily equally. These types of factors include income, age, and who is responsible for the children.
To receive a fair settlement and in order for your lawyer to be most effective, you need to know all your investments and whether they are marital or separate. Being able to define this for your attorney will make their job much easier and they can focus on more important things like filing all the documents and determining any course of action necessary. It is best to try to settle with your spouse so you can both get what you want or receive compensation. Otherwise a judge will do this for you and the decision could be crushing.
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In my research for this article I also found helpful information about accident attorneys & wrongful death lawyers from divorcelawyersofatlanta.com.
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