Property Division in Divorce
When you end your marriage, all marital property has to be divided. This is far from a clear-cut process, and it is critical to have a skilled lawyer on your side to ensure you do not lose the property and assets you worked hard to attain.
The outcome of the property division process will affect you for years to come, if not the rest of your life. You cannot afford to entrust your future to an inexperienced attorney. Since 1993, our law office has been trusted to get results for our clients — and we deliver.
At Burns Smith Law, PC, in Canton, Georgia, we represent clients in divorce cases throughout Cherokee County and the surrounding areas. Call us at 770-956-1400 for a consultation.
What Is Equitable Division?
You might have heard that Georgia is one of the equitable division states. What does this mean? Equitable division is just a fancy way of saying fair. This creates a significant gray area in many divorce cases, because the law does not require property to be divided equally. It only requires property to be divided fairly — and what’s fair? Fair is in the eye of the beholder.
The first step we take to help our clients obtain fair property division settlements is to take stock of the marital estate. We identify assets as marital property or separate property (sheltered from division) and ensure a proper value is given to all the marital assets. Only then can we go about the process of negotiating or litigating property division. As strategic negotiators and strong fighters, we are prepared to get you the best possible property division arrangement.
Complex Property Division Experience
While we provide divorce representation for people from all walks of life, we do have a great deal of experience in cases involving complex property division matters. If you or your spouse owns a business or professional practice, or your marital estate involves extensive or complicated property holdings, we can help.
Burns Smith Law, PC, will work diligently to protect your rights and assets at all stages of the legal process.
Dealing With Retirement Funds
Getting divorced can be a harrowing experience. Social stigmas aside, issues like dividing property might lead to charged confrontations that make the process much harder than it ought to be. Where assets like pensions and retirement funds are concerned, these affairs can become emotionally and mentally trying.
The compassionate attorneys at Burns Smith Law, PC, understand the sensitive nature of divorce. We understand that our clients are going through more than enough without having to endure legal wrangling, so we work to represent their rights properly. We’re honored to help families in Canton and the rest of Georgia start off fresh following a divorce.
The Trouble With Retirement Funds And Divorces
When couples get divorced, many interests are at play. Individuals who worked for their 401(k) plans and pensions might want to ensure they keep them, while their spouses often feel entitled to some of the benefits. Although both concerns are equally valid, many couples fail to anticipate challenges like:
- The penalties and taxes incurred when withdrawing funds before retirement to transfer them to an ex-spouse
- The need to draft Qualified Domestic Relations Orders, or QDROs, to legally split certain plans
- The way courts determine what constitutes equitable distributions of delayed benefit property such as pensions and savings accounts
Even if you don’t foresee your split as becoming particularly contentious, these considerations make it critical to obtain sound legal advisement. At Burns Smith Law, PC, we focus on drafting agreements and orders that support smart decision-making. By conducting in-depth reviews of separation agreements and acting on behalf of those who can’t come to terms with their soon-to-be exes, our lawyers help Georgians overcome the negative aspects of divorce and face the future with confidence.
Understanding How Divorces Impact Retirement Assets
Winning an award for a portion of a retirement plan or negotiating a favorable QDRO doesn’t mean you automatically obtain benefits. The plan’s original terms may demand that new recipients wait until they or the original pension holder reaches retirement age to receive anything. Some courts try to offset such stipulations by awarding other properties earlier. In other cases, they might order delayed alimony payments upon receipt of benefits.
The nuances of retirement fund division can catch people unprepared if they’re not familiar with how things work. Our lawyers are committed to keeping you informed so that you can plan ahead. We don’t believe that separating from your spouse should jeopardize your retirement. Call us today at 770-956-1400 or contact us online to find out how your divorce might affect your pension or savings.
Contact Our Experienced Attorneys
For a consultation about a property division matter, call Burns Smith Law, PC, at 770-956-1400.