The Siemon Law Firm
Call Us Today
866-497-5134

Asset valuation key in divorce settlement

The division of assets can sometimes be challenging and even contentious in a high-asset divorce case. Assets must be valued at a certain point in time for the court to properly divide them.

Although a valuation date may be at any time a court decides, each state has a specific rule it tries to abide by. Georgia's valuation date is the date of the final judgment. If something needs to be valued and there is no date of final judgment, a court will use the current date.

Many states use the date of separation or the date of filing the petition for dissolution of marriage. If you are filing a marital settlement agreement because your divorce is uncontested, you must have a date of valuation, so that asset division and property division is fair in the settlement agreement.

Because Georgia law says to use "today's date," that leaves it pretty open-ended. If the parties have been discussing divorce and decide they want to settle out of court, one of the parties could devalue an asset before the settlement agreement is signed. During initial divorce discussions, the parties should choose a fair valuation date and put it in the agreement, if they know the divorce will be uncontested.

A further potential complication is the division of liabilities. For example, one spouse could significantly devalue an asset because he or she doesn't want the other spouse to benefit from it. It money is owed on that asset, it cannot be sold for the amount owed, and it becomes a liability that cannot be disposed of easily.

If you own property or have high-value assets, contact a Georgia family law attorney experienced in high-asset divorce and equitable distribution for timely response to questions and concerns and diligent representation of your divorce-related legal interests.

Related Resource: Forbes, "How the valuation dates of different assets are decided during divorce" Oct. 12, 2011

No Comments

Leave a comment
Comment Information

Let Us Help You

Contact our Georgia Family Law Firm by calling
866-497-5134 or by completing this contact form. An attorney will respond within 24 business hours.

Email Our Team Today

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

We Have Offices in Atlanta, Cumming and Alpharetta for Your Convenience.

The Siemon Law Firm
4555 Mansell Road, Suite 300, #28
Alpharetta, GA 30022

Phone: 770-521-4316
Fax: 770-521-4317
Alpharetta Law Office Map

The Siemon Law Firm
3348 Peachtree Road Northeast, Suite 700, #721
Tower Place 200
Atlanta, GA 30326

Phone: 678-954-4917
Fax: 770-521-4317
Atlanta Law Office Map

The Siemon Law Firm
347 Dahlonega Street, Building 100
Cumming, GA 30040

Toll Free: 866.497.5134
Phone: 770-888-5120
Fax: 770-521-4317
Cumming Law Office Map