Atlanta High-Asset Divorce Law Blog

January is known as "divorce month," and as such, it's a good time to talk about how the new tax rules and other changes could affect your divorce. Couples who plan to divorce in 2019 should be aware that new spousal support tax rules could change the way they want to approach this typical negotiation.

Spousal support is paid to one spouse from the other. The amount and length of time it's paid varies, but it's primarily determined based on how long the couple has been married, their ages, the health of each party and how much they both earn.

Many parents who go through child custody cases soon find that the children are doing things with one parent that they know the other won't allow. There isn't anything necessarily wrong with this unless the children are playing one parent against the other, which is a problematic. You and your ex might have to work to ensure that this isn't happening.

There are several things that might signal that your children are trying to play you against your ex just so they can get their own way. One of the most common is that the kids will go to each adult separately. If the first one doesn't give them the answer they want, they might change up their plea a bit so that they have a chance of getting the other one to agree.

With any high-asset divorce, there are many assets on the line. People in these situations need to do everything they can to protect their own interests. Georgia is an equitable distribution state, which means that you're not guaranteed anything except what is perceived as your fair share of the marital estate.

As someone who is divorcing with a high net worth, it is usually a good idea to have accountants, attorneys and other professionals assist you. You'll want to document your finances as well as where your money goes. There are a few extra steps you may want to take to guarantee there aren't hidden assets or missed assets as well. Those include:

• Reviewing bank account statements
• Checking for retirement accounts
• Reviewing stocks and bonds
• Obtaining a credit report

When deciding what your family will look like after a divorce, issues of child custody and child support have to come up. They may get resolved easily if you and your ex can work together for the best interests of the child. They may grow contentious if you both fail to see eye-to-eye on these important topics.

Either way, money is going to be a central issue that you need to deal with. Raising the children is not cheap. Caring for them costs you time, money and energy. You have to think about this while deciding where the kids will live, when you'll see them, how to split up the costs, who will pay for specific things and much more.