Last updated on April 8, 2021
There are a number of losses that are associated with divorce in Georgia. The loss of the relationship and time with children may be the most difficult for some, but determining which items you will keep and which will go to your spouse can also cause emotional distress. This may be particularly true when it comes to possessions that have sentimental value. We at the Siemon Law Firm have provided legal advice to many people seeking a divorce agreement that allows them to keep assets they love without losing their fair share of the settlement.
Having a strong emotional attachment to one of your tangible assets could lead you into trouble in a divorce. According to CNBC.com, allowing your feelings to guide you during the process of property division may be detrimental. It may be a good idea to have a financial value placed on each asset before negotiation begins in order to prevent a lopsided settlement. Experts recommend that this valuation come from an expert who can determine the actual fair market value.
A financial professional such as an accountant may be a person you want on your team as you determine which of your possessions you do not want to live without. After all, if the marital asset you are fighting for also has significant financial value, and you win it in the divorce decree, it could lead to unforeseen negative consequences, such as hefty payments or tax implications. To learn more about divorce settlements, please visit our web page.
