[an error occurred while processing this directive]
William C. Gentry, Attorney at Law
Call Today for a Free Initial Consultation
770-884-4171 888-365-5983

Marietta's Pre-Eminent Family Law Firm

Complex Legal Issues Deserve Bold, Intelligent Representation

Call for A Free consultation
Attorney

Know how much your house is worth for divorce

While many divorcing couples in DeKalb County will sell the marital home, split the proceeds and go on their respective ways, not everyone in Georgia wants to move following a divorce. Especially with low housing prices, expensive homes might not sell for as much as they are worth, so someone may wish to retain the home in the high-asset divorce. What is especially important, however, is to know exactly how much the home is worth.

Why is it so important to know how much a home is worth? Well, if a couple is operating on the incorrect value, one person could end up giving up more of the rest of the marital property than he or she needs to in order to compensate for taking the home. Say, for example, that a wife wanted to keep a $1 million home, but both the husband and wife thought the home was worth $1.2 million. In order to make the divorce equitable, the woman would need to give her former husband assets that total approximately half the value of the home. If they believe the home to cost $1.2 million, the wife will end up paying $100,000 more than she needs to.

One of the best ways to determine how much a home is worth is to get a home appraisal. Using a licensed and impartial appraiser is important, otherwise the court and the other side may question whether the appraisal is accurate. The best option is obviously for both spouses to agree on the appraiser. If two appraisals are done, it will be important to work with a divorce attorney who can help argue why one appraisal is inaccurate.

Divorce is more than just living separately and moving on with life; many divorces, especially between spouses with considerable assets, have complex property division that must be completed before the divorce can be finalized. An experienced divorce attorney can help navigate not only the property division aspects of a settlement, but also advise a client on how best to get what he or she wants.

Source: The Huffington Post, "Three Ways To Value Your Home In A Divorce," Joseph E. Cordell, March 1, 2013

You can learn more about high-asset divorces in Georgia by visiting our website.

No Comments

Leave a comment
Comment Information

Call Us When You Need Outstanding Legal Representation

Email Us For A Response

How Can We Help You?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Attorney
William C. Gentry, Attorney at Law Address

Office Location

William C. Gentry, Attorney at Law
506 Roswell Street SE
Suite 240
Marietta, GA 30060

Toll Free: 888-365-5983
Phone: 770-884-4171
Fax: 770-422-1347
Marietta Law Office Map