Dividing marital property can be a major challenge for divorcing couples. In Georgia, the law requires an equitable division, meaning a couple must divide marital property fairly but not necessarily equally. Understand what constitutes marital property versus separate property and how Georgia courts divide property.
Marital Property vs. Separate Property
Georgia courts distinguish what is “marital” and what is “separate” property. Marital property are assets acquired or bought during the marriage. Examples of marital assets include:
- Stocks and bonds
Assets defined as separate property include:
- Assets acquired before marriage
- Gifts from someone else other than your spouse
- Items spouses agree is separate property
How do Georgia Courts Divide Property?
In Georgia, courts have complete discretion when deciding how to award marital property and will distribute property in what they believe is fair based on the case. When deciding equitable division, courts consider the following factors:
- Financial status of each spouse
- Separate property
- Behavior of each spouse during the divorce process
- Any evidence of misconduct resulting in waste of assets by either spouse
- Future needs of each spouse
Keep in mind, a judge may favor one party over the other based upon who is at fault for divorce. For example, in a case of adultery, the innocent spouse may receive more from the settlement if they proved their spouse cheated and sexual relations outside the marriage occurred.
Be proactive during your divorce case and speak with an experienced divorce attorney especially going through this stage of the divorce process.
Contact Our Experienced Atlanta Metro Divorce Attorneys Today
Our experienced Atlanta divorce and family law attorneys are available to help you through the divorce process and understand your options and rights. Schedule a consultation and contact us today at 770-280-1488 or complete a contact form.