Deciding to end a marriage is seldom easy and is not usually taken lightly in Georgia. There are many aspects to consider when divorce proceedings are entered into. Property division can be complicated at any level but becomes particularly onerous for very wealthy couples.
While there is no specific number that may cause a divorce process to become more complex, an estate valued at $10 million or more may have several complicating facets. A less complex case may hinge on dividing property by two — for example, retirement accounts and other financial assets. Assets in a larger estate may not be as easy to assign a value to, as such assets can include works of art, the value of a business or foreign-held accounts. The value of these items is dependent on many factors.
Some couples entering into marriage when a large estate is already present may sign a prenuptial agreement that outlines what happens in the event of a divorce. In the event that the estate is amassed after the marriage, a post-nuptial agreement can also be created. In the absence of such an agreement, a divorce involving a sizable estate may be very complicated.
A wealthy person contemplating divorce in Georgia would probably benefit from consulting with professionals familiar with the possible issues involved in such a complex case. An experienced family law attorney can review the assets and other property held in a large estate, and may be able to help the client to arrive at a settlement that is amenable to all parties. The lawyer can also assist in seeing to it that all property is accounted for.