"I'm 63 years of age and I can't be living like this," says now talk show host Sharon Osbourne. She is talking about her marriage with well-known rocker Ozzy Osbourne. The couple has been married for more than 30 years and is reportedly at the beginning of a divorce that's already making headlines.
Every divorce in Georgia or elsewhere in the United States includes dynamics that are unique to the couple. However, if your spouse is a foreign national or has dual citizenship, U.S. family law may not be the only legal factor that applies to your situation. At the Siemon Law Firm, we are aware of the importance of identifying the laws in a spouse’s home country to determine the impact they may have on a divorce involving international assets.
For better or worse, money is at the root of all or most of the disputes that arise during a divorce. This can be especially true when the financial stakes are higher than normal. For instance, if you and your soon-to-be ex accumulated significant assets prior to or during marriage, it is likely that many of your discussions will revolve around financial settlements.
For some people in Georgia, dividing the financial and tangible possessions from the marriage during a divorce may be fairly simple. If you have complex assets, though, the process of identifying them all in the discovery phase may be a challenge. Forbes suggests that locating and valuating marital assets may be best accomplished by hiring a forensic accountant, a person who has been trained in the identification and valuation of assets.
Dissolving your marriage in Georgia is a legal matter that may be as stressful financially as ending the relationship has been on your emotions. As you and your spouse go through the process of discovery, you will both need to provide all of your financial documents so the assets and liabilities can be divided equitably. If you have some concerns that your spouse is not providing a full account of these, you may want to hire a financial professional, but there is some information that should be easily accessible to you.
The process of dividing everything up during a divorce may seem complex if you and your spouse have a variety of assets such as tangible items, real estate and retirement accounts. Hiding financial information is illegal, and failing to disclose something could lead to conflict and litigation. When attempting to identify all shared property, Nasdaq suggests that you may also need to list your credit card rewards as marital assets.