Marital vs Non-marital (Separate) Property
With respect to property division, many divorce cases require a factual determination of what assets (or debts) are marital property or non-marital (separate) property. The general basic rule (with several exceptions) is that property acquired during the marriage is marital property, and it is subject to equitable property division in the divorce. The other general basic rule is that separate property remains separate property. Tracy is experienced in helping her clients identify these different categories of property and presenting those issues to a judge or jury in a final trial of case.
Equitable Division of Property
In Georgia, marital property is subject to “equitable division.” Equitable does not necessarily mean equal. What each party receives as “equitable division of property” depends on many factors: the amount of assets and debt to be divided, any separate assets available to either spouse, and the needs and conduct of each spouse.
Division of Retirement Assetts
Division of retirement assets, including pensions, IRAs, annuities, and 401ks, is a complex issue in divorce and alimony cases. Tracy is experienced with division of retirement assets and helps her clients determine how to best divide these assets, giving special consideration to taxation, income production, and management of debt. Tracy also advises her clients to seek independent tax advice and works closely with accountants and tax advisers who can provide valuable insight and assistance throughout a divorce case.