When a married couple in Georgia files for divorce, they have to divide their assets. Sometimes, this process is easy because they already have a marital agreement. Other times, it is the biggest source of conflict in the divorce.
As you prepare for court or negotiations with your ex and their attorney, it is crucial that you put the right price on your most valuable assets. What property deserves additional consideration as you establish the value of your marital estate?
Your marital home and other real estate
Few assets change in value as much over the course of a marriage as real estate could. Property values can shift dramatically in just a few years. Rather than reporting how much you paid for the home when you bought it, you likely need an appraisal to find out what the property is worth now.
A business or professional practice
Running a company is demanding and also expensive. Businesses have a lot of moving parts, ranging from contract payments due in the future to obligations to their employees for chemical exposure on the job. A proper business valuation is key to fairly divorcing when you run your own company.
Certain professionals, like executives, will have agreements in their contracts for deferred compensation based on job performance or longevity in their position. If either you or your spouse has deferred compensation outstanding during the marriage but not yet due and payable, you may need to figure out a fair market value for that compensation to split it in your divorce.
Identifying the assets that can complicate property division can help you push for a fair split of your belongings and debts during a high-asset divorce in Georgia.