When you’re going through a divorce in Atlanta, alimony is a key issue that can keep you up at night. In marriages where substantial assets and income are involved, spousal support becomes far more complicated than a simple monthly payment. With millions, if not tens of millions, on the line, decisions about alimony can drastically affect both parties’ lifestyles for years to come. And if you’re in this situation, you’re probably already considering how a lawyer can protect your interests.
At Hobson & Hobson, P.C., our Atlanta divorce attorneys know how important spousal support is. That’s why we work to protect your assets and future at every stage of the divorce process. If you have large assets and properties, you need a law firm that understands how much is truly at stake.
High Net Worth Divorces: A Different Ballgame
High net worth divorces bring a unique set of challenges. If you or your spouse own multiple properties, hold investment portfolios, or have business stakes, these complexities extend to alimony. Courts consider various factors when determining support, but in Atlanta, trends show that more wealth often leads to longer, larger alimony arrangements.
However, these trends aren’t just about dollar amounts—they’re also about how the courts handle high-profile cases. For instance, the public nature of these divorces in the Atlanta area can influence outcomes, as there is often a need to protect privacy and manage reputations. This is especially true when someone is a well-known business leader or public figure.
Current Trends in High Net Worth Alimony in Atlanta
As the economy and social expectations evolve, so do the trends in alimony and spousal support.
Extended Alimony Agreements
One major trend is the increased length of alimony agreements. In some high net worth cases, courts are extending the duration of spousal support far beyond the “rehabilitative” period seen in more moderate divorces. Why? Because the lifestyle cultivated during the marriage often sets the standard, and courts aim to ensure that the lower-earning spouse doesn’t experience a drastic drop in their standard of living.
Structured Payment Plans
In Atlanta, particularly, many divorces involve tech executives, real estate moguls, and other professionals with fluctuating incomes. This factor alone can create significant challenges in determining what “fair” support looks like. Many courts lean toward structured payment plans that adjust based on income shifts or other financial changes, which could mean monthly amounts that change year to year.
Lump Sum Alimony
Another important trend in high net worth divorces in the city is lump-sum alimony. Many wealthy individuals choose to settle alimony in a one-time, large payout rather than a monthly sum. This can benefit both parties—the payor avoids the long-term commitment, while the recipient gains more financial freedom immediately. However, these agreements can be complicated to negotiate, requiring expert financial advice and legal support to ensure they’re beneficial in the long run.
Atlanta’s Influence on Alimony Trends
Atlanta’s booming industries—tech, film, real estate—mean that high-income couples in this area are more likely to have complex asset portfolios, with the potential for hidden assets. Unlike some states, Georgia courts don’t automatically divide marital property 50/50, and that nuance extends to alimony decisions as well. You might find that both the amount and length of your alimony arrangement will be tied to the overall division of assets, the length of your marriage, and even the reputation of the parties involved.
Additionally, Atlanta’s real estate market plays a large role in divorce cases. Homes in neighborhoods like Buckhead, Druid Hills, and Sandy Springs come with hefty price tags, which courts factor into alimony decisions. If one spouse wants to maintain the family home, for example, the mortgage payments and property taxes in those areas could be considered when calculating spousal support.
The Impact of Georgia Law on High Net Worth Alimony
In high net worth cases, two key state-specific statutes often come into play: the calculation of alimony and the modification of alimony.
First, under Georgia Code § 19-6-5, courts take into account a range of factors when determining alimony, including the standard of living established during the marriage, the length of the marriage, and the financial resources of both parties. However, in high net worth cases, courts often put special weight on the income disparity between spouses. If one spouse has limited earning potential compared to the other—perhaps because they didn’t work during the marriage or they were involved in managing the household—they may be entitled to larger alimony payments.
Second, Georgia Code § 19-6-19 allows for the modification of alimony if there is a “substantial change in the financial circumstances” of either party. This is particularly relevant in high net worth divorces, where financial circumstances can change quickly due to business ventures, investments, or even market downturns. Alimony agreements in these cases are often structured with this in mind, allowing for modifications when needed.
Contact Our Atlanta Divorce Lawyers Today
While national trends can give you a broad sense of where things are headed, local experience is irreplaceable in a high net worth divorce. Atlanta’s courts have their own intricacies, and local attorneys, like those at Hobson & Hobson, P.C., know how judges typically handle spousal support in cases involving substantial assets. If you’re in the middle of or about to start the divorce process, call us at (770) 284-6153 or fill out our confidential contact form!
Attorney Sarah Hobson at Hobson and Hobson, P.C. are powerful advocates for those who fight for better futures for those going through divorce and custody law matters.
