Investments are an excellent way for a person to build their career, supplement their income or build a nest egg for their future. Divorce is a major obstacle for anyone's future plans and can have a major impact on the future of a person's investments. It leaves many people questioning what will become of their investments, specifically stocks.
Georgia has unique laws regarding how property is divided during divorce. To put it simply, all your marital assets will need to be divided between you and your soon-to-be former spouse. How those assets are divided is a matter for debate.
When it comes to making that debate, the best way you can advocate for yourself is to hire an experienced divorce attorney. They will research your specific situation and do everything in their power to ensure you receive everything you need by the time your divorce is finalized.
Marital asset division in Georgia
As you may know, our state is a joint property state. This means that virtually all assets and liabilities acquired during your marriage are considered the property of both spouses and must be divided. Joint property includes stocks, retirement funds, checking accounts, credit card debt, cash, vehicles and homes. These assets and liabilities must be divided fairly, though not 50-50.
What is considered fair distribution will be decided by the court. A judge will consider how many assets each spouse entered the marriage with, fault regarding the divorce and marital misconduct, and legal agreements, among other things.
Where do the stocks go?
It may be the case that your stocks are already safe. If you acquired your stocks before you were legally married, then they are not considered marital property, and will thus remain yours. If you continued to acquire stocks during your marriage, then the portion you accrued in that time will need to be divided.
The division of assets allows for a certain amount of give-and-take. If you are set on retaining as many of your stocks as possible, you may opt to give your spouse the family car or take on the credit card debt that they charged up during your marriage. Each situation is different, which is why the counsel of a legal professional is so important.
Divorce is an extremely stressful time, but with a little planning you can come through it with the resources necessary to move onto your next chapter in life.